One of the largest craft and fabric retailers in the country officially filed for Chapter 11 bankruptcy with 35 locations in Illinois. What does the future look like for Joann Fabrics?
Many companies are going through a bit of upheaval and Walgreens is definitely among them. They just announced a rash of layoffs including many store locations being closed and there's already one confirmed to shut their doors in Illinois.
2023 was another tough year for retail and that even included major retailers like Walmart. In 2023 alone, they closed more stores in Illinois than any other state and they've already begun closing some locations in 2024. Will Illinois once again see more of these neighborhood big box stores putting "we're closed" on the front doors?
It must be a bad year for a lot of national chains. Just like Walmart and David's Bridal, Best Buy just announced a ton of store closures and Illinois made the list.