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2010 Retail Store Closings: U.S. Retailers Downsizing or Going Out of Business

Retail Chains Closing or Liquidating Sites - Complete, Updated, and Ongoing List


2010 Retail Store Closings: U.S. Retailers Downsizing or Going Out of Business
© Barbara Farfan for About.com
UPDATE: Click for the 2012 Store Closings Roundup >>

>> Complete 2010 Retail Store Closings List >>
>> 2010 Retail Store Closings Arranged Alphabetically >>

Even though Federal Reserve Chairman Ben Bernanke declared that the recession was over for the U.S. on September 15, 2009, the effects of the recession for the U.S. retail industry will extend beyond the technical indicators and well into 2010.

Compared to the 2009 Store Closing list, the number of stores scheduled for closure in the U.S. in 2010 seems small, but is still not insignificant. The recovery of consumer spending in the new decade was predicted to be slow because of high unemployment, and many mutli-store chains continued to respond to recessed retail consumption with store closings.

Many experts believe that the number of retail establishments per capita in the United States was excessive even before the economy recessed. According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space. That means that there is approximately 46.6 square feet of retail space per capita in the U.S., compared to two square feet per capita in India, 1.5 square feet per capita in Mexico, 23 square feet per capita in the United Kingdom, 13 square feet per capita in Canada, and 6.5square feet per capita in Australia.

With the tightening of consumer credit, and the loss of wages and personal wealth in the U.S., consumers began spending more consciously and making choices to purchase only what they really needed, and what they really wanted. Same store sales trends in 2009 revealed the chains that consumers judged to have the wrong merchandise at the wrong price in the wrong quantities at the wrong time. Retail stores with redundant, irrelevant, and overpriced merchandise were abandoned in favor for competitors that gave customers what they needed, and also gave them a compelling reason to purchase by offering innovative products at attractive price points.

The bankruptcy and liquidation of Circuit City started the avalanche of store closings early in 2009. Because 2010 did not begin with a similar onslaught of store closing announcements, some U.S. retail industry onlookers concluded that the worst was over. However, store closings were announced steadily in the first quarter of 2010, and were expected to continue all throughout 2010.

What follows is a complete, updated, and ongoing list of retail chains that are closing stores, downsizing their chains, or going out of business in the 2010 calendar year.

This list is arranged in descending order, according to the total number of store closings planned for 2010. Information for this store closings list comes from credible published sources that are available to the general public. The list is updated and revised as more information about 2010 store closings is reported and becomes available to the public.

The 2010 store closings list was last updated on 10-12-10. The most recent changes and additions are indicated with bold lettering.

>> Complete 2010 Retail Store Closings List >>
>> 2010 Retail Store Closings Arranged Alphabetically >>

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