UPDATE: Click for the 2012 Store Closings Roundup >>
In order to survive the worst of the retail recession in 2008 and 2009, major U.S. retail chains closed thousands of store locations that they deemed to be "underperforming," and an economic liability. Some chains were simply overexpanded, others had become expendable and irrelevant to consumers who pared back non-essential spending.
It was estimated that the total number of store closings in 2009 would be 10,000 - 12,000. The number of store closings from major retail chains were less than half of that. It is difficult to know the exact number of independent retailers that ceased operations in 2009, but the vacancy rate for retail space in the U.S. was as high as 19% in some major U.S. metropolitan areas.
While it was generally believed that 2010 would be a year for both economic and retail turnaround, recovery was expected to be a slow multi-year process. The slow speed of recovery was expected to force additional store closings as rent concessions expire and leases come up for renewal. With unemployment numbers high and consumer spending levels low, retailers will continue to close locations where they can't make the numbers work.
Cost-cutting, layoffs, and inventory reductions helped retail chains to survive in 2008 and 2009. If retail consumption remains recessed, retail chains may find that the only thing left to cut is additional store locations.
What follows is a complete and ongoing list of store closings that are planned to occur in the 2010 calendar year. Information for this store closings list comes from credible published sources that are available to the general public. The list is updated with additions and changes as official and verifiable store closing information is made public.
This list is arranged alphabetically, according to the name of the retail chain. The last update to this 2010 Store Closings list was made on 10-12-10. The most recent changes and additions are indicated with bold lettering.
>> Complete List of 2010 Store Closings Arranged Alphabetically >>