These national and regional retailers went out of business in 2025 – CBS News
The past year saw a wave of bankruptcies, with a number of major national brands permanently closing their doors amid uncertain economic growth and ongoing challenges among brick-and-mortar businesses.
More than 8,100 stores closed across the U.S. in 2025, up roughly 12% from 2024, according to retail industry analytics firm Coresight Research. Here are some of the larger retailers that closed their stores this year.
Bargain Hunt
Bargain Hunt, a Nashville-based discount retailer, said in February that it would shutter all of its 92 stores in 10 states after declaring bankruptcy.
Forever21
Fast-fashion retailer Forever 21 wound down its U.S. operations in the face of stiff competition from overseas retailers such as Shein and Temu.
Forever 21 blamed “competition from foreign fast-fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin.”
Joann Fabrics
Hudson, Ohio-based Joann Fabrics in February shuttered all of its stores across the U.S. after more than 80 years in the business of selling fabrics and craft supplies. It had declared bankruptcy for a second time in January after experiencing flagging sales.
The retail chain failed to find a buyer that would keep its stores open, forcing it to close its stores amid “significant and lasting challenges in the retail environment,” Joann said in a statement at the time.
Liberated Brands
Liberated Brands said in February that it would close all of its 122 stores. The Costa Mesa, Calif.-based retailer focused on sports and outdoor apparel, with its brands including Beachworks, Becker Surfboards, Billabong, Boardriders, Honolua Surf, Quiksilver, ROXY, RVCA, Spyder and Volcom.
Party City
Party City closed hundreds of company-owned and franchise store outlets this year after declaring bankruptcy in late 2024. A handful of independent franchise stores remain open in the U.S. The party supplies seller also continues to operate as an online retailer after its brand was purchased in early 2025 by retailer Ad Populum.
Rite Aid
After filing for bankruptcy twice in two years, national pharmacy chain Rite Aid in October announced the closure of all of its locations.
Rite Aid, founded in 1962, faced sluggish sales and high costs linked to opioid-related lawsuits. The Justice Department filed a complaint against the company in 2023, accusing it of violating the False Claims Act and the Controlled Substances Act by filling unlawful prescriptions for oxycodone and fentanyl, CBS News reported.
What’s left of its website now directs former customers to request old pharmacy records and helps them find a new provider.
Sonder
Former Airbnb rival Sonder, a short-term rental company, abruptly ceased operating in November, leaving guests stranded and, in some cases, locked out of their accommodations.
Sonder went out of business after Marriott ended its licensing deal with the hospitality company.
“Unfortunately, our integration with Marriott International was substantially delayed due to unexpected challenges in aligning our technology frameworks, resulting in significant, unanticipated integration costs, as well as a sharp decline in revenue arising from Sonder’s participation in Marriott’s Bonvoy reservation system,” interim Sonder CEO Janice Sears said in a statement last month.
