What to know in the final days of store closures for Party City, Joann and more

Group 1: Big Lots - Big Lots filed for Chapter 11 bankruptcy in September 2023 and announced the closure of all remaining stores, but later struck a deal in December 2024 to save hundreds of locations [2][3] - The retailer is currently holding a massive sale with discounts ranging from 50% to 80% off, while its website indicates that "all stores closing" [2] - Variety Wholesalers is expected to take over 200 locations and two distribution centers, potentially employing some Big Lots associates at the acquired stores [3] Group 2: Macy's - Macy's announced its "Bold New Chapter" initiative in February 2024, aiming to modernize the department store chain, and subsequently decided to close 66 "non-go-forward" stores in January 2025 [3][4] - The company is focusing on its 350 "go-forward" locations, with clearance sales initiated in January and February 2025, lasting 8-12 weeks and about six weeks respectively [5] Group 3: Party City - Party City declared bankruptcy in January 2023 and exited in September 2023, but filed for Chapter 11 again in December 2024, leading to the decision to close all stores [7][8] - The CEO stated that the decision was made after exhaustive efforts to remain open in a challenging environment influenced by inflation and consumer spending [8] Group 4: Joann - Joann announced in February 2025 that it would close all 800 stores, resulting in job losses for approximately 19,000 employees [10] - The company is currently offering discounts of up to 50% on its inventory and appears to be selling items online [11] - Coresight Research predicts that up to 15,000 stores could close in the U.S. in 2025, more than double the 7,325 closures in 2024 [12]