Retailers Closing the Most Stores

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6. Bon-Ton Stores Inc.
> Closings: 256
> Total stores: 256
> Industry: Department store

The Bon-Ton Stores Inc. is the parent company of a number of chains, including the department store chain of the same name as well as Boston Store, Younkers, and Carson’s. After over 150 years in operation, the Bon-Ton chain and and the company’s other nameplates are going out of business completely in 2018 — shuttering all 256 locations. The company’s liquidation process began on April 20th and is expected to continue for approximately three months.

Source: Mike Mozart / Flickr

5. The Children’s Place
> Closings: 300
> Total stores: 1,014
> Industry: Children’s apparel

Children’s clothing and accessories store The Children’s Place announced it would be closing 300 locations by 2020. In fiscal 2017, the company reported net income of $85 million, down from a five-year high of $102 million the previous year.

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4. Teavana
> Closings: 379
> Total stores: 379
> Industry: Specialty food

Starbucks acquired specialty tea retailer Teavana in November 2012. Less than five years later, the coffee shop chain announced plans to shutter all 379 Teavana locations by the summer of 2018. However, Starbucks’ plan hit headwind when Simon Property Group, owner of the retail space of some 77 shopping mall Teavana locations, sued to keep the stores open. In early 2018, Starbucks reached a deal with Simon, and is no longer prevented from carrying out its planned closings.

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3. Subway
> Closings: 500
> Total stores: 25,452 (United States)
> Industry: Fast food

No fast food restaurant has more locations worldwide than Subway, at 44,000. It also is the most widespread in the U.S., with more than 25,000 locations, which is roughly 10,000 more than its closest competitor, Yum! Brands. That lead in North America is about to shrink, however, as the sandwich shop company announced in April that it would shutter 500 locations in the U.S. It will, however, add to its international lead, as it plans to open roughly 1,000 locations overseas.

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2. Rite Aid
> Closings: 600
> Total stores: 4,536
> Industry: Pharmacies

For years now, Walgreens has been in the process of purchasing a massive share of its rival Rite Aid’s locations. When Walgreen completes the deal to buy the locations, it will close 600 of the over 1,932 locations it will have purchased. Rite Aid will be paid $4.4 billion for its stores.

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1. Toys “R” Us
> Closings: 735
> Total stores: 735 (United States)
> Industry: Toys

The parent company of famed children’s toy company Toys “R” Us has been in dire financial straits for some time. The company entered bankruptcy in September 2017 with the hopes of restructuring and finding a buyer for its operations, but there have been no takers. Now, the company will liquidate all 735 of its existing properties in the United States.