- More than 3,800 stores are closing in 2018
- Walgreens, Toys R Us, and Gap are among the many retailers expected to shutter hundreds of stores this year.
The record-high rate of store closures that rocked the retail industry last year has continued into 2018, with more than 3,800 closures expected this year, according to an analysis by Business Insider.
Many stores have already closed or are on the verge of shutting down. Walmart, for example, closed 63 Sam’s Club stores earlier this year. Toys R Us is in the process of liquidating all of its 735 US stores after an unsuccessful attempt to restructure the business through bankruptcy. Those closures are expected to be completed within weeks.
Other closures could last several months or years before completion. The children’s clothing retailer Gymboree announced in July that it would close 350 stores. As of November, 248 closures had been carried out. The Children’s Place is planning to close 144 stores by 2020.
The following is a list of expected upcoming closures. As this list grows over the next couple of months, we will update it accordingly.
- Business Insider