The retail sector is bracing for a wave of store closures through the end of 2025, based on a report predicting almost 2,000 more retail locations closing than in 2024.
In January 2025, the research firm Coresight Research predicted a net of about 9,200 closings for the year, with 15,000 store closings and 5,800 new openings, according to CoStar.
Retailers closed about 7,325 stores in 2024.
2025 store closings surpass 2024
Store closings in 2025 have totaled about 5,822 as of June 27, significantly surpassing last year’s mid-year total of 3,496, Coresight Research reported.
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The study also identified 3,960 store openings during the same period in 2025.
Home goods retailer At Home has joined the store closure trend after filing for Chapter 11 bankruptcy on June 16, as it has revealed it will close 28 of its 260 store locations.
The huge number of store closings so far this year has been led by drugstore chain Rite Aid, which continues closing its stores each week.
Rite Aid filed for bankruptcy twice
Giant drugstore chain Rite Aid, which opened its first store in 1962, filed for Chapter 11 bankruptcy for the first time on Oct. 15, 2023, and closed about 800 of its 2,100 stores in a reorganization.
The pharmacy chain filed for Chapter 11 protection a second time on May 5, 2025, and began closing all of its stores, estimated to be about 1,240 locations at the time.
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Rite Aid shuts additional stores in liquidation
Rite Aid has closed more stores than originally estimated, as it filed its 17th notice of additional store closing locations in the U.S. Bankruptcy Court for the District of New Jersey on Aug. 15, seeking approval to close 13 more stores and liquidate their assets.
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The additional stores increased the number of designated locations for closing in its second bankruptcy to 1,274 stores.
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The deadline for objections to the additional store location closings is Aug. 25.
The debtor has not indicated if any remaining stores need to be closed. The retailer filed its final location closing order on July 10.
Rite Aid’s 17th additional closing notice includes 13 store closures in five states: Washington (8), New Hampshire (2), Idaho (1), New York (1), and Oregon (1).
Rite Aid closes 13 more stores in 5 states:
- Washington (8).
- New Hampshire (2).
- Idaho (1).
- New York (1).
- Oregon (1).
Rite Aid already filed 17 other notices of store closing locations with the original notice and an additional notice on May 9 and 15 additional closing notices on May 15, May 23, May 30, two on June 6, June 13, June 20, June 27, July 3, July 11, July 18, July 21, July 25, Aug. 1 and Aug. 8.
Rite Aid’s 1,274 store closures by state:
- California (348)
- Connecticut (15)
- Delaware (29)
- Idaho (8)
- Maryland (23)
- Massachusetts (4)
- New Hampshire (49)
- New Jersey (61)
- New York (179)
- Ohio (4)
- Oregon (40)
- Pennsylvania (354)
- Vermont (5)
- Virginia (26)
- Washington (128)
Drugstore chain CVS in 2021 launched a downsizing to close 900 of its nearly 9,900 stores to reduce costs and losses, cutting 300 locations each year in 2022, 2023, and 2024.
The company expanded its closures in 2025, revealing in its annual report in February that it would close 271 additional stores this year.
Another pharmacy chain, Walgreens, evaluated 2,000 of about 8,600 stores for potential closure and identified 1,200 locations to shutter over three years, with 500 set to close in fiscal year 2025.
Drugstore chains closing stores:
- Rite Aid: 1,274 (as of Aug. 15).
- Walgreens: 1,200 (2025-2027).
- CVS: 1,171 (through 2025).
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