Big Lots: A Last Call for Bargains

In a shocking move, Big Lots filed for Chapter 11 bankruptcy in September 2023, triggering a full closure of its stores. Yet, in an unexpected twist, the company struck a deal in December 2024 that saved hundreds of locations. Current sales offer jaw-dropping discounts ranging from 50% to 80% off store-wide, as Big Lots continues its final clearance efforts.

The retail chain is set to be partially rescued by Variety Wholesalers, which will take over 200 of its locations and operate them under the Big Lots name. However, the future job security of Big Lots employees hangs in the balance, with potential employment transitions to Variety Wholesalers still unclear.

Macy's: A Bold New Chapter Amid Store Closures

Recently, Macy's unveiled its "Bold New Chapter" vision, which includes closing 66 underperforming stores to sharpen its focus on the 350 locations that will remain operational. The department store chain is refreshing its image and product offerings as it tries to adapt to changing consumer preferences.

Macy's has initiated clearance sales at closing locations, with discounts scheduled to last through February, allowing shoppers a short time to scoop up deals before doors shut for good.

Party City: The End of the Party

After 40 years in the party supplies business, Party City is set to close all its stores due to a second bankruptcy filing in December 2024. Despite emerging from previous bankruptcy in September 2023, ongoing economic pressures—such as inflation and reduced consumer spending—forced the company to halt operations. CEO Barry Litwin expressed regret over the decision but emphasized the necessity to start the wind-down process. The liquidation sale currently features discounts of up to 80% to clear out remaining inventory.

Joann: A Farewell to Crafting

The well-loved craft retailer Joann is also closing the curtains on its 800 stores, leaving nearly 19,000 employees facing uncertain futures. Interim CEO Michael Prendergast announced that the company, which started as a single storefront in 1943, has faced considerable challenges since becoming a private entity in April 2023. Joann is concurrently offering a sale of up to 50% off selected items, both in-store and online, to liquidate its stock.

The Bigger Picture: Retail Apocalypse

The closures at these iconic chains are part of a broader trend, with retail analysts predicting that as many as 15,000 stores in the U.S. could shutter by the end of 2025—well above the 7,325 closures recorded in 2024. As consumer habits shift and online shopping continues to dominate, these closures serve as a reminder of the evolving retail landscape.

As these beloved retail chains close their doors, shoppers in search of bargains only have days left to secure period deals. Don't miss your chance to grab the last of your favorite items—once these stores close, there's no turning back!