More than 2,200 stores are closing across the US in 2023. Here’s the full list:
It’s not exactly the retail apocalypse of prior years, but it’s a shakeup nonetheless.
An Insider tally of announcements by major retailers in 2023 finds as many as 2,280 stores set to close across the US.
The rationales are varied: some companies are navigating bankruptcy proceedings, while others say they are aiming to cut costs. Several are adjusting store formats to meet changing shopping trends.
Leading the list is Bed Bath & Beyond, which has declared bankruptcy closed 896 stores across three brands this year, followed by Foot Locker, which is shuttering 545 stores across two brands by 2026 as part of a shift away from shopping malls.
www.businessinsider.com/stores-closing-in-2023-list
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Restaurant closures hit decade high:
The first three months of this year witnessed the highest rate of British restaurant closures in a decade, according to new figures from accountancy firm Price Bailey.
An average of 5.6 restaurants filed for insolvency per day during the first quarter of 2023, totalling 569 businesses. This brings the total over the last 12 months to 2,028, a 55% increase on 2021 figures, which saw 1,303 restaurants, an average of 3.1 per day, forced to close.
www.thedrinksbusiness.com/2023/07/restaurant-closures-hit-decade-high/
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