Several major retailers and restaurants announced in February that they would close stores.
Some closures resulted from filing for bankruptcy while other closures came about to reduce the size of a company’s footprint.
Here are four major companies that announced store closings in February.
Forever 21
Forever 21 has set plans to close 200 stores as the retailer is considering whether to file for bankruptcy a second time.
If the clothing retailer decides to file for Chapter 11 bankruptcy, it will be the second time the chain has filed for bankruptcy and shuttered hundreds of locations in less than six years.
Forever 21 would close the stores under the bankruptcy agreement. However, if the retailer can’t find a buyer while undergoing the bankruptcy process, it might shut down all remaining stores in the U.S, according to Bloomberg.
Dairy Queen
A Dairy Queen franchise owner closed down 25 locations in Texas and auctioning off equipment and seating from 24 of those locations.
Although Dairy Queen is a popular brand in Texas and nationwide, the closures come as other fast-food chains, such as Red Lobster, have downsized due to changing consumer habits.
“These closures are an isolated event,” a Dairy Queen spokesperson told USA Today. “It was this franchise owner’s decision to participate in an online auction.”
JCPenney
Retailer JCPenney will permanently close eight stores in eight states this year.
The department store revealed it would be shuttering eight out of 650 stores in 2025, according to Axios.
“While we do not have plans to significantly reduce our store count, we expect a handful of JCPenney stores to close by mid-year,” a JCPenney spokesperson told Axios.
Joann
Joann is closing all 800 stores instead of the 500 previously announced after failing to find a buyer that would keep the stores open.
The fabrics and crafts retailer filed for Chapter 11 bankruptcy for the second time in less than a year. The company ultimately ended up putting its remaining assets up for auction.
Retail liquidator GA Group and Joann’s term lenders placed the winning bids. However, the retailer and the new ownership reached an agreement to close all stores after holding going-out-of-business sales at each location.
More Major Store Closing News
- Major party store chain is hosting a massive 80% off sale just weeks before closing all stores
- Joann is closing all 800 stores after 80 years in business: See all the N.J. locations to shop before they’re gone
- Forever 21 will close 200 stores as they consider bankruptcy — and potentially shuttering all locations
- Dairy Queen closing 25 locations in this state: See the full list
- JCPenney shuttering 8 stores for good: See the full list
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.