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The retail world is changing fast, and 2025 has been a tough year for many big-name retailers.

From long-standing department stores to popular specialty chains, several companies have closed locations—or shut down entirely—as shopping habits and economic pressures continue to evolve.

Joann

The craft and fabric store Joann made headlines this year when it announced plans to close all of its stores.

The chain, which had previously filed for Chapter 11 bankruptcy in March 2024, filed again in January 2025.

According to court documents, the second bankruptcy was intended to facilitate a sale and reduce costs.

Despite attempts to stay afloat, Joann ultimately held liquidation sales and closed its remaining locations in May 2025.

Customers can now only find Joann products in Michaels stores under the Knit & Sew Shop brand.

Volcom, Billabong, and Quiksilver

Outdoor and surf apparel brands Volcom, Billabong, and Quiksilver also faced closures. Their parent company, Liberated Brands, filed for Chapter 11 in Delaware.

According to Fox 26, a spokesperson said, "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."

While over 100 stores will close, the clothing lines will remain available at other retailers, including Dick's Sporting Goods and Kohl's.

JCPenney

JCPenney is closing a handful of locations this year. The company stated, "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."

JCPenney encouraged customers to visit other stores or shop online, emphasizing its commitment to serving diverse working families.

Macy's and Kohl's

Department stores are also tightening operations. Macy's plans to close 66 stores in 2025 and approximately 150 by 2026, focusing on "underproductive stores."

Kohl's announced it will shutter 27 locations by April, a small fraction of its more than 1,150 stores, targeting underperforming outlets.

Walmart, Walgreens, and Starbucks

Even retail giants like Walmart have seen closures, with six stores shutting in 2024 due to underperformance.

Walgreens is expected to close 500 stores in 2025, part of a plan to reach 1,200 closures by 2027. Starbucks is also trimming locations to optimize operations.

Restaurants and Specialty Stores

Denny's expects to close between 70 and 90 restaurants in 2025, while Dollar Tree, Office Depot, and Party City have all announced select store closures.

Party City, in particular, will permanently shut all locations, affecting 12,000 employees. Other mall staples, such as Claire's, have filed for bankruptcy again, closing nearly 300 stores so far, Cheapism reported.

Why It's Happening

Experts say the closures reflect multiple challenges: rising inflation, post-pandemic shifts in spending, and growing online competition.

Retailers must adapt to survive, often consolidating or focusing on stronger locations. Some companies, like Big Lots, have reopened stores under new ownership, while others, like Joann and Party City, have exited the market entirely.

The retail landscape in 2025 highlights a simple truth: shoppers are changing, and stores that can't adapt may not last.

For consumers, this means fewer brick-and-mortar options—but also the chance to discover new shopping models, online conveniences, and specialty outlets that are evolving to meet today's demands.