More than 2,000 closures in 2024: Find out how many stores Walmart, CVS, Walgreens closed this year...

The US retail crisis continues. According to an analysis by Business Insider, it is expected that by the end of 2024 more than 2,000 branches of various stores will have closed throughout the United States, suggesting a bleak outlook for retailers, who have not fully recovered from the Covid-19 economic crisis that began in the US in March 2020.

According to the report, a total of 13 retail brands announced closures affecting a total of 2,045 locations throughout the year. While this is an alarming number, it is not a new phenomenon. In 2023, approximately 2,800 store closures were recorded, most of which were the result of the collapse of Bed Bath & Beyond. Recently, Walgreens announced the closure of 1,200 locations over the next three years.

The reasons behind the mass store closures vary from company to company. However, most of them point to a transformation in the retail landscape, encompassing reasons such as rising operating costs, declining consumer spending and the rise of e-commerce, to name a few.

According to Business Insider analysts, if this trend continues, the total number of store closures in the United States could exceed 45,000 branches in the next five years, reflecting the magnitude of the current crisis.

You may also be interested in: Walgreens to close 1,200 stores over next 3 years: locations and dates

More than 2,000 closures in 2024: Find out how many stores Walmart, CVS, Walgreens closed this year.

In Walgreens’ case, the closures are tied to an adjustment of its operating structure to deal with economic difficulties, something that other brands have also cited as the reason for their closures, including Family Dollar, CVS and 7-Eleven.

On the other hand, stores such as LL Flooring and Conn’s have been forced to close after declaring bankruptcy. This is also the case for Big Lots which initiated voluntary Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware in September.

Below, we share a list of companies that have announced closures in 2024, as well as the number of stores that have closed so far or so far this year, in addition to Walgreens that plans closures in the next three years.