25 Popular Shops and Businesses Permanently Closing Stores in 2020
2020 has been one of the toughest years for the economy.
With consumers shopping online more and more, along with other outlying factors, some of the biggest names in the game are filing for Chapter 11 bankruptcy and/or permanently closing a large portion of stores.
Below, we've rounded up 25 popular shops and businesses permanently closing stores in 2020. Please note that our information is listed as of June 23, 2020, and unless linked otherwise, came from MoneyWise or Business Insider.
1. J.Crew (TBD)
The sophisticated fashion retailer's parent company filed for bankruptcy protection, leading everyone to wonder about the future of the business, which has been in a tough spot for quite some time. People have jumped to the assumption that the company is folding altogether, when in actuality, its future is up in the air. While there's a likelihood stores may close, the company may also just require a restructured business model.
2. Ruby Tuesday (TBD)
As of May 29, 2020, at least 150 of Ruby Tuesday's approximately 270 locations were completely closed temporarily. There's no word on how many re-openings the already declining casual diner will endure. But based on owner Aziz Hashim's outlook on today's climate, it's likely many of the company's doors will close for good.
3. Souplantation / Sweet Tomatoes (all locations)
This one gets us where it hurts. Souplantation (or Sweet Tomatoes, depending on where you live) is the buffet we were raised on. From their specialty soups and salads to their undeniably delicious cornbread, it was the one all-you-can-eat hotspot that no one judged us for visiting. Given the current climate, however, it does make sense that such establishments don't feel the most hygienic—even if it saddens us to admit.
4. Chuck E. Cheese (TBD)
Currently nearly $1 billion (!) in debt, the decades-long children's chain synonymous with pizza and Skee-Ball could either close all of its doors for good, or reopen with a new plan. They're reportedly in talks with lenders, seeking out $200 million in loans. Even if they do reopen, they'd need to restructure entirely, given our current sanitization climate.
5. TGI Friday's (most likely 20% of restaurants)
It's the chain of all chains—TGI Friday's, home of some serious Mozzarella Dippers and Boneless Hot Wings, is gearing up to close approximately 20% of its 386 locations, thanks to a major sales decline as of late.
6. Steak 'n Shake (51 restaurants)
Indianapolis, Indiana, is a little less meaty now that a slew of its staple fast food joints have permanently closed their doors. Steak 'n Shake, known for its steak burgers and milkshakes—as its name suggests—luckily still has hundreds more locations, but like other popular eating establishments, it's been noticeably declining in recent months.
7. Denny's (16 restaurants)
Home of the Grand Slam Breakfast is a little less grand with the closure of 16 establishments. The 24-hour comfort food joint has been around for ages, so it's a little tough to see some of the spots go, but we'll just have to make the most of what's still available.
8. Speciality's Café and Bakery (all locations)
After 33 years in business, Specialty's—a casual eatery comparable to Corner Bakery Cafe and Panera Bread—has shut all of its doors for good. The San Francisco-based company said farewell in May after decades of serving up delicious sandwiches, salads, pastries and of course, coffee.
9. Le Pain Quotidien (possibly 63 locations)
While nothing is set in stone, two-thirds of the French eatery's temporarily closed dining establishments may stay that way for good. The company has filed for bankruptcy, but if all goes according to plan, it will sell its U.S. stores to Aurify Brands, which owns Five Guys Burgers and Fries and Fields Good Chicken.
10. IHOP (49 locations)
If you live in Virginia, North Carolina, South Carolina or Tennessee, wipe your eyes, because breakfast as you once knew it is about to change forever. CFRA Holdings, which runs 49 IHOP locations in these states, has filed for bankruptcy and will close these specific establishments for good. Where else are you going to find free All You Can Eat Pancakes with the purchase of any breakfast combo?!
11. Pier1 (all locations)
Name one holiday or season that hasn't involved a family shopping trip to Pier1—we'll wait. The affordable home decor chain carried everything from office chairs and placemats, to candles, rugs, you name it. There really was something for everyone, at every price point. We're not gonna lie—the permanent closures of this popular spot tear at the heartstrings.
12. Gold's Gym (at least 30 locations)
If you live in Alabama, Colorado, Missouri, Texas, Oklahoma, North Carolina or South Carolina, you may have to bid adieu to your local elliptical. Gold's Gym announced on its Facebook page that the company has "made the difficult decision to permanently close about 30 gyms" in these states.
13. Bath & Body Works (51 locations)
While this closing number may initially sound alarming—who doesn't love a year-round spritz of Japanese Cherry Blossom?—the brand will also open 26 new locations, leaving us loyalists with 1,700 total Bath & Body Works locations across the U.S. and Canada.
14. Victoria's Secret (235 locations)
In one of the biggest shockers to emerge in recent months, Victoria's Secret is closing a huge portion of its stores. The lingerie and undergarment giant has been on the decline since the issue of inclusivity in its fashion shows came to the forefront. But sales have gone down dramatically as of late.
15. JCPenney (242 locations)
The affordable department store giant has been around for 118 years! So, whether you were an avid shopper or only saw one of its stores at the mall, there's no way you weren't familiar with the company. As of earlier this month, JCP received bankruptcy court approval to begin liquidation sales at stores that are closing permanently.
16. Pappas (at least five locations)
Known for its predominantly seafood eateries in Houston, Texas, the Pappas family of restaurants will offer employees who were let go positions at one of their other locations. Prior to closures, they ran 49 establishments in Houston, and will now own 85 nationwide.
17. 24 Hour Fitness (at least 130 locations)
Long before the Equinoxes of the world and the emergence of boutique studios, pretty much everyone belonged to 24 Hour Fitness. Unfortunately, however, with today's fitness landscape, the company has not only filed for bankruptcy, but is closing at least 130 locations.
18. Stage Stores (all locations)
The owners of Gordmans off-price stores and a bunch of other regional brands, including Bealls, Goody's and Peebles, are closing the doors of all its stores. The company made reality sink in even more when they announced on Instagram that all gift cards will expire 30 days after the stores (temporarily) open.
19. Signet (300 locations)
While the name Signet alone likely doesn't ring a bell, the brands under its affordable upscale jewelry umbrella most certainly do! Kay Jewelers, Zales, Jared the Galleria of Jewelry, Piercing Pagoda and JB Robinson Jewelers are all famed mall spots you've assuredly either been pierced at or have casually walked by and been approached by one of their sales employees.
20. Tuesday Morning (230 locations)
Another discount store is struggling. Tuesday Morning—which offers up to 60% off department store prices on everything from home décor, furniture, bedding and bath, to electronics, appliances, crafts and toys—filed for bankruptcy, but will still operate more than 300 stores even after its couple hundred closures.
21. The Children's Place (200 locations)
A decades-long mall staple, The Children's Place is closing a huge portion of its doors. From printed dresses and onesies to cute quote-tees and tie-dyed apparel, the company will no longer be at the forefront of many parents' shopping trips.
22. Diane Von Fürstenberg (all but one location)
Famed designer Diane Von Fürstenberg didn't have a slew of brick-and-mortar stores to begin with, but she's now closing 18 out of 19 of the ones that do exist, centering on a "digital-only, China-focused" business model moving forward. Sales for the DVF label have declined over the years, but the outcome of recent months really put the nail in the coffin.
23. Swingers (its one remaining location)
While not a major chain, if you live in or have visited Los Angeles, there's a huge probability you've made it into Swingers diner, a famed Beverly Blvd. staple that's been around since 1993. They closed its newer Santa Monica location last year, and the L.A. community has been in mourning since the announcement they won't reopen its recently-closed first location either.
24. Neiman Marcus (TBD)
While Neiman Marcus used to be the it-name of luxury department stores, present times have seen its predominantly older clientele passing away or no longer spending on designer apparel. The company has been struggling to attract younger generations for quite some time, but recent months have been icing on the cake, leading the retailer to file for bankruptcy. The immediate future of the company is unknown as of yet.
25. Nix (its one location)
While not a household name to all, four-year-old Nix is a landmark in New York City as the first vegetarian restaurant in The Big Apple to receive a Michelin star. The Greenwich Village hotspot announced on its Instagram account, "Everything that's happened [recently] has shown us that there is no path back to where we had been."
The closure of some of our fave eateries and retailers is just one of many downsides brought on in recent time—but HERE's how to stay positive in the midst of it all.