These 3 retailers liquidated after Chapter 11 bankruptcy

Retail Industry Overview - The retail sector has faced significant challenges in 2024, with many major chains closing permanently and others, such as Kohl's, JCPenney, and Macy's, reducing their store counts [1][2] - Predictions for store closures in 2025 are dire, with estimates suggesting approximately 15,000 closures, while store openings are expected to remain steady at around 5,800, resulting in a net loss of over 9,000 stores [2] Store Closures and Bankruptcies - Notable retailers have struggled, leading to four major companies filing for bankruptcy and ceasing brick-and-mortar operations [6] - Party City filed for Chapter 11 bankruptcy in late December 2024, leading to the closure of nearly all its 700 U.S. locations as part of a liquidation plan [7] - Joann Inc. also filed for Chapter 11 bankruptcy on January 15, 2025, with plans to close all remaining stores (approximately 800) by May 2025 [9] Consumer Behavior and Retail Adaptation - Retailers that failed to adapt their supply chains and implement cost-cutting technologies were significantly affected, as consumers increasingly prefer convenience and better service [5] - The trend shows that consumers are looking for the best prices and are less tolerant of disorganized stores and poor customer service [5]