American shoppers kept powering the economy through inflation and other economic headwinds.
But some familiar brands came to their end in 2025, succumbing to bankruptcy.
Roughly 8,200 locations of businesses shut their doors this year, about 12% more than 2024, according to CNN, citing Coresight Research.
Here’s some of the names we lost.
Forever 21
Trendy fashion retailer Forever 21 filed for bankruptcy in March, closing its more than 500 stores.
Forever 21 first filed for Chapter 11 bankruptcy in 2019 and subsequently shut down 200 stores. It was later bought by mall operators Simon Property Group and Brookfield Properties and brand management firm Authentic Brands Group.
People exit a Joann Fabric and Crafts store in Barre, Vt., on Saturday, March 8, 2025. (AP Photo/Carolyn Lessard)AP
Joann
Fabrics and craft retailer Joann announced in February it was closing after filing its second bankruptcy petition in less than a year.
The retailer filed its second bankruptcy petition in less than a year in January, closing 800 stores.
However, Michaels acquired the intellectual property and private label brands of Joann.
Party City is hosting a big 80% off sale to empty its inventory before it shuts down all its stores.Canva/Ana Suarez
Party City
After four decades in business, Party City shuttered its stores in March.
The celebration and costume retailer filed for bankruptcy in 2023 as part of a $150 million agreement to restructure its business. But the COVID-19 pandemic and the global supply chain crisis presented challenges.
There was also increasing competition from e-commerce platforms and online stores including Amazon, as well as seasonal pop-ups, such as Spirit Halloween.
The retailer previously declared bankruptcy in January 2023 and struggled with debt, carrying more than $1.7 billion at one point.
The former Rite Aid on Maclay Street in Harrisburg.
December 22, 2025.
Dan Gleiter | [email protected]Dan Gleiter | [email protected]
Rite Aid
Once a staple alongside CVS and Walgreens, Rite Aid officially closed all its locations nationwide in September.
Founded in Pennsylvania in 1962, Rite Aid was once the third-largest drug store chain in the U.S. It first filed for bankruptcy in October 2023 due to high debt, declining revenue and ongoing costs related to opioid litigation. The chain later settled the opioid lawsuit for $410 million to resolve allegations it violated controlled substance regulations.
In 2022, Rite Aid operated 2,451 locations. By September 2, 2025, only 89 stores were still openand those have since closed. The final stores – located in Washington and Oregon – closed Sept. 29.
Rite Aid filed for bankruptcy a second time in May 2025 and liquidated all assets.
