FILE-People walk by a Macy's store in Brooklyn after the company announced it was closing the store along with over 60 others on January 13, 2025 in New York City. (Photo by Spencer Platt/Getty Images)
Some big-name retailers have closed stores in 2025 amid a changing industry and shifting consumer spending habits.
These store chains have shut down multiple locations in 2025, and here’s what you need to know.
Joann
Joann reportedly plans to close 500 of its roughly 850 stores nationwide as part of its ongoing bankruptcy restructuring.
The closures come after Joann first filed for Chapter 11 in March 2024, then again in January 2025 to facilitate a sale process.
RELATED: Joann, the fabric and craft chain, reportedly closing several locations
The backstory:
Joann has been battling financial difficulties for years. In its first Chapter 11 bankruptcy filing in March 2024, the company secured $132 million in new financing but still carried around $1 billion in debt.
Despite moving forward as a private company, Joann struggled to regain stability, leading to its second bankruptcy filing in January 2025. According to court filings, Joann’s latest restructuring aims to maximize the company’s value through a sale process while reducing costs through store closures.
Volcom, Billabong and Quicksilver stores closing
Over 100 Volcom, Billabong, and Quicksilver stores across the nation are set to close after Liberated Brands filed for Chapter 11 bankruptcy.
What we know:
Liberated Brands filed for Chapter 11 bankruptcy earlier this week in Delaware. The company, which operates several outdoor, lifestyle, and sports apparel brands and is headquartered in Costa Mesa, California, blamed sustained high interest rates and inflation, as well as a shift in consumer preferences for "‘fast fashion’ and e-commerce as opposed to branded apparel and brick-and-mortar retail."
RELATED: Volcom, Billabong, Quicksilver stores closing in the US: What to know
While over 100 retail locations will eventually close, licenses for the brands themselves have been transferred to another operator – meaning the clothing products will still be available. As Fast Company notes, many of these brands are already sold at other retailers, including Dick’s Sporting Goods, PacSun, and Kohl’s.
"This filing does not impact the future of the brands, as they have already transitioned to new, well-capitalized partners who are actively investing in their growth and long-term success," a Liberated Brands spokesperson said in a statement shared with FOX Television Stations.
What we don't know:
There was no immediate timeline for the closures other than "following the liquidation" of the parent company. Meanwhile, the status of the company’s nine retail locations in Hawaii was still being negotiated.
The backstory:
Billabong, Volcom and Quicksilver are all known for their millennial skate and surf-inspired apparel. These are one of many brick-and-mortar chains that have suffered amid a decrease in consumer spending post-pandemic and the rise of cheaper "fast fashion" options online.
JCPenney
JCPenney announced that some of its stores will close by the middle of the year.
What we know:
The company told FOX Television Stations they expect a handful of locations. They add that the closures are unrelated to the recent Catalyst Brands merger.
RELATED: JCPenney closing more stores later this year: Find out where
What we don't know:
JCPenney would not confirm the list of closures to FOX Television Stations.
What they're saying:
"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."
The backstory:
JCPenney, which emerged from Chapter 11 reorganization in December 2020 with new owners, not only has grappled with years of internal issues but also faces an uncertain economy that has challenged healthier department stores.
Macy’s
Macy's is closing 66 stores this year as part of a comprehensive strategy to revive its struggling business, the department store said in January.
Overall, Macy’s said it plans to close approximately 150 "underproductive stores" through 2026 – including stores in Philadelphia, Detroit, and elsewhere coast-to-coast.
RELATED: Macy's is closing 66 stores in 2025 – see the list
Kohl’s
Kohl’s said it plans to close 27 "underperforming" stores across the U.S. by April 2025. The company, headquartered in the Milwaukee suburb of Menomonee Falls, Wisconsin, on Jan. 10 announced the closures. It accounts for under 3% of its more than 1,150 stores.
RELATED: List: Kohl's to close 27 ‘underperforming’ stores by April 2025
Walmart
Six Walmart stores have closed so far in 2024, according to reports – including a pair of stores in California and one in Maryland.
One Walmart location closed in Ohio and another pair of stores closed in San Diego that the company said did not meet financial performance expectations.
RELATED: US store openings currently outpace closures by 20%, report says
The retail giant is also planning to build or convert more than 150 stores over the next five years.
Walgreens
Walgreens announced the closing of 1,200 stores and is expected to close 500 locations in the 2025 fiscal year, and the total closures will amount to 1,200 by the end of 2027.
Starbucks
Starbucks will close several stores in 2025 as the company looks to optimize operations.
Denny's
Denny's closed 88 locations in 2024, according to the company, and said in 2025 it expects to close "between 70 and 90" restaurants. The restaurant chain also anticipates opening between 25 and 40 restaurants – half of which are expected to be Denny’s and the other half Keke's Breakfast Café, which is acquired in 2025.
Dollar Tree
Dollar Tree is planning to close select underperforming locations in 2025.
Office Depot
Office Depot has been downsizing for years, and 2025 will see even more closures. The shift to remote work and digital offices has reduced demand for office supplies.
Party City
Party City is permanently closing its doors after 40 years. The company had more than 700 company-owned and franchised stores as of late October, FOX Business reported, citing a press release from the company.
RELATED: Party City closing after 40 years in business
Foot Locker
Foot Locker announced in 2023 that it planned to close more than 400 low-performing stores in shopping malls through 2026.
The footwear company also said it would focus on better-performing locations and new concept stores outside of malls targeting niche consumers such as sneakerheads, children and higher-income shoppers.
As of 2023, there were about 1,300 Foot Locker stores in malls in North America. Foot Locker said it anticipated closing 25% of its locations in A- and B-rated malls and 50% of its stores in C- and D- rated malls. Mall ratings reflect sales per square foot.
CVS
Pharmacy giant CVS has already announced plans to close hundreds of stores over the next few years. In 2025, the closures will target areas with overlapping locations or low foot traffic, as the company focuses on expanding its healthcare services.
Sears
Sears will have a wave of closures in 2025 with only a few remaining stores that are mainly open in high-cost areas.
Gamestop
GameStop’s struggles continue despite efforts to pivot its business model. Many locations in smaller towns or declining malls will close in 2025. The company launched a plan to sell retro game consoles and games and is transitioning its in-store product selection to feature gaming merchandise like toys and shirts.
Advanced Autoparts
Advanced Auto Parts is closing more than 700 locations by the middle of 2025. USA Today reported that the car parts supplier plans to introduce a new three-year financial plan to revive its struggling business.