**Retailers Closing Stores in 2025: Kohl’s, Macy’s, Party City, and More**
A wave of closures is sweeping across the retail industry in 2025, with major players such as Kohl’s, Macy’s, and Party City announcing nationwide shutdowns. The reasons behind these closures range from underperformance to bankruptcy filings and shifting consumer preferences.
**Kohl’s Shutdown Announcement**
Kohl’s recently made headlines by revealing that over two dozen of its stores will be closing their doors in April. Among the affected locations are twenty-seven underperforming stores, including those in Plainfield and West Dundee, out of the company’s vast network of 1,150-plus stores.
**Macy’s Bold New Chapter Strategy**
Macy’s also joined the list of closures by announcing the shuttering of more than 60 “underproductive” stores across the country, as part of its new strategy called “Bold New Chapter.” The iconic retailer is focusing on luxury brands and smaller footprint stores to adapt to changing market dynamics. Notable among the closures is the store at Springfield’s White Oaks Mall.
**Party City’s Farewell**
Party City, a beloved destination for party supplies, is preparing to close its doors for good, with hundreds of stores across the nation facing closures. The company’s CEO, Barry Litwin, informed employees that operations are winding down, with the last day of employment set for December 20, 2024. The closures come after Party City filed for Chapter 11 bankruptcy protection in 2023 due to economic challenges.
**Big Lots’ Surprising Turnaround**
In a surprising turn of events, Big Lots, which had previously filed for bankruptcy protection, secured a deal to keep hundreds of its stores and distribution centers open. Gordon Brothers Retail Partners stepped in to acquire Big Lots and plans to transfer the assets to other retailers. Variety Wholesalers Inc. is set to acquire between 200 and 400 Big Lots stores to continue operating them under the Big Lots brand.
**Joann’s Store Closures**
Arts and crafts retailer Joann is also facing closures, with at least eight stores shutting down across the country. While no closures are planned in Illinois, Joann is evaluating its store locations to optimize its operations. The company highlighted a strategic approach of opening new and remodeled stores in recent months to balance out the closures.
The retail landscape is evolving rapidly, with iconic stores making tough decisions to adapt and survive in an ever-changing market. As consumers, it’s essential to support our favorite retailers during challenging times to keep the retail industry thriving. What are your thoughts on these closures and their impact on local communities?
