Major Retailer To Close 1K Stores, Including Some Illinois Spots

There have been a lot of store closings in Illinois and across the country since the pandemic came along in 2020, and those closing are still happening on a far-too-regular basis.

Over the last 3 years, here are just a few of the major retailers who've closed all stores, some stores, declared bankruptcy, or have chopped locations to save money:

• Bed Bath & Beyond
• David's Bridal
• Tuesday Morning
• Serta Simmons Bedding
• Party City
• Neiman Marcus
• JC Penney
• Foot Locker
• Bath & Body Works
• Gap
• Banana Republic
• Walgreens
• Rite Aid

Now We Get The Announcement That A Major Discount Retailer Is Going To Be Slamming A Lot Of Doors Shut Starting Now And Potentially Continuing For Several Years

It appears that the economic news that this retailer had missed fiscal fourth-quarter profit expectations and ended up losing $1.71 billion, or $7.85 per share, has caused a shockwave throughout the company and forced the hard decision to shutter a thousand or more stores.

That company is Dollar Tree, the parent company of Family Dollar.

Nationwide, as of February 1st, 2024, Dollar Tree has 16,774 stores, of which 8,539 are Family Dollar stores. Here in Illinois, there are 346 Dollar Tree stores and 108 Family Dollar stores. It appears safe to assume that with 1,000 planned closings, some Illinois stores are going to be on the closing list.

The Closings Announcement Also Seems To Indicate That Family Dollar Will Suffer The  Most Closures, But There Will Be Dollar Tree Stores That Will Permanently Shutter, Too

According to the Dollar Tree announcement and published reports, Dollar Tree will close around 600 of their Family Dollar stores in the first half of this year, then close another 370 locations over the next few years. They're also planning on closing 30 Dollar Tree locations when their leases expire.