2025 is shaping up to be a tough year for businesses across the U.S. From big-name blogs to iconic restaurants and household retailers, the landscape of American commerce is shifting faster than ever.
According to Consumer Reports, even some of the most iconic stores are struggling to survive, with many expected to shut their doors for good if they can’t reinvent themselves and win back customers.
With companies like Best Buy already closing over 24 stores and Forever 21 falling into bankruptcy, the America we know is slowly fading. Soon, there may be no malls or stores left to hang out at (cue the sad sigh).
Brace yourself as we take you through the complete rundown of all the stores closing their doors in 2025.
Forever 21
Bloomberg first reported that the fast-fashion brand is considering closing its stores, including its Los Angeles corporate office, after filing for bankruptcy.
At its peak, Forever 21 operated over 800 stores globally, with 500 in the U.S. Today, the company manages just 350 stores, many of which are also on the chopping block.
However, Forever 21 isn’t disappearing altogether. The company is shifting toward a more online-centric model in a bid to better compete with fast-fashion juggernauts like Shein and Temu.
“Forever 21’s U.S. business is said to be pivoting to a digital-first strategy, supported by a streamlined retail footprint focused on approximately 100 top-performing stores,” a representative for Forever 21 shared with People.
Macy’s
In January, Macy’s revealed plans to close 66 stores across the U.S. as part of its “Bold New Chapter” strategy.
The move is aimed at steering the company toward sustainable and profitable sales growth, which includes shutting down approximately 150 underperforming stores over the next three years while investing in its 350 go-forward locations that will continue to operate through fiscal 2026.
Best Buy
Best Buy has been quietly closing locations over the past few years, but the gradual pace hasn’t made much of a public impact since not all stores have shut down at once.
According to Money Digest, Best Buy plans to close 24 stores in 2024, with another 10 to 15 expected to shutter in 2025.
But before you panic about where to score those electronics at unbeatable prices, it’s important to note that these closures are part of a larger strategy to revamp the company’s presence and attract new customers.
“First, we will open small locations in a couple outstate markets where we have no prior physical presence and our omnichannel sales penetration is low to measure our ability to capture untapped share,” said Best Buy CEO Corie Barry.
Nordstrom
With the rising cost of basically everything since the pandemic, Nordstrom is looking to close more stores in the coming months.
Most of these closures will be in suburban markets, where the company has faced more challenges.
Joann’s Fabrics
In February, Joann reportedly closed over 850 stores nationwide as part of its ongoing bankruptcy restructuring. Joann first filed for Chapter 11 in March 2024, then again in January 2025.
Since the filings, Joann has made several changes, including halting returns and refusing to validate gift cards, sparking frustration among consumers.
One frustrated customer voiced their anger on Instagram, saying, “Regardless of the fact that you are closing, your business took money and now refuses to give the product in exchange for it. Wrong.”
In response, the company issued a statement, saying, “We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders.
“We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years.”
Hooters
One of America’s favorite restaurant chains, Hooters, is facing bankruptcy. Just last year, the iconic brand closed about 40 locations and was reported to have over $300 million in asset-backed bonds, per The Independent.
Since news broke about the potential closure, several celebrities, including Kelly Clarkson, have rallied to save the beloved franchise, sparking widespread petitions and support from fans.
BIG Lots!
BIG Lots! announced on its Facebook page that its stores were entering their “final weekend” with “prices slashed until it’s gone!”
The Columbus, Ohio-based company, which once employed about 27,700 people and operated over 1,300 stores across 48 states, filed for Chapter 11 bankruptcy protection in September.
However, not all is lost. According to Fast Company, about 200 locations are set to reopen under new ownership, with Variety Wholesalers planning to relaunch the first wave of stores in April.
Kohl’s
While Kohl’s has managed to stay afloat, the department store has been struggling to keep above water for years.
Reports from Axios show a sharp decline in the company’s stock, driven by drops in sales. In January, the retailer announced plans to close at least 27 underperforming stores by April 2025.
However, Jill Timm, Kohl’s Chief Financial Officer, told Axios that the company’s overall fleet is “incredibly healthy” and emphasized that it “didn’t have a lot of stores that were underperforming.”
JC Penney
In February, JCPenney announced plans to close eight stores nationwide. While the company has fared better than some competitors, it hasn’t been immune to the pressures of inflation and growing competition from Amazon.
JCPenney previously filed for Chapter 11 bankruptcy and has been working to stabilize its business.
“The decision to close a store is never an easy one, but isolated closures do happen from time to time due to expiring lease agreements, market changes or other factors,” the company said in a statement.
“We are grateful to our dedicated associates and the loyal customers who have shopped at these locations. We continue to work to make every dollar count for America’s diverse, working families and welcome them to shop at our other JCPenney stores in the area and at JCPenney.com.”
CVS
Pharmacy giant CVS has announced plans to close nearly 100 stores over the next two years.
According to the company’s website, the closures will primarily target locations with overlapping stores or low foot traffic, as CVS shifts its focus toward expanding healthcare services.
Walgreens
Following in CVS’s footsteps, Walgreens is set to close several stores in oversaturated markets.
As consumer habits shift toward online healthcare solutions, the company is focusing on expanding its digital health services and streamlining its brick-and-mortar presence.
Game Stop
Gaming is going digital, and GameStop is feeling the heat.
To combat declining sales, the retailer plans to shut down over 250 stores across the U.S., according to Finance Buzz.
The company recently launched a strategy to sell retro gaming consoles and games while shifting its in-store focus to gaming merchandise like toys and apparel.
Dollar General
Even budget-friendly stores aren’t immune to the retail shakeup.
Dollar General recently announced plans to close 96 Dollar General stores and 45 Popshelf locations.
Additionally, the company is set to convert six Popshelf stores back into Dollar General locations within the first quarter of the fiscal year ending Jan. 30, 2026.
Denny’s
America’s diner is scaling back but not disappearing entirely.
After closing 88 locations in 2024, Denny’s has announced plans to shut down between 70 and 90 more restaurants in 2025
However, the company is also planning to open over 40 new locations, with half set to be Denny’s and the other half Keke’s Breakfast Café, the company’s growing breakfast chain.
Party City
After years of speculation, Party City is officially closing up shop.
“This is without question the most difficult message that I’ve ever had to deliver,” CEO Barry Litwin said during a December conference call with CNN.
He admitted that despite the company’s “very best efforts,” it has not been able to overcome its financial struggles.
