4. Walgreens
Year Established: 1901
Store Closures: 200 Branches*
Given that they appear to be everywhere in some American areas, Walgreens may come as a surprise to find their name on the list. They do, however, face stiff competition from CVS and other well-known brands that control the drugstore sector. In an effort to maintain profitability in their other sites, the pharmacy stores are currently closing 200 of their locations. Walgreens has been losing money ever since, and Fox Business revealed some startling details about the company’s demise. Over the course of three months in 2020, the Walgreens Boots Alliance-owned corporation lost $1.7 billion. The firm closed 17 more of its stores in the San Francisco region in 2021 due to stealing.
4. Walgreens
5. The Gap
Year Established: 1969
Store Closures: 136 branches*
To remain ahead of the market and cut costs, The Gap has undergone a significant rebranding and reorganization in addition to closing up to 350 stores globally by 2024. Former CEO Art Peck estimates that as a result of this change, more than half of The Gap’s 2,300 domestic outlets may close in the upcoming years. Foreign consumers have already witnessed a number of Gap locations close in recent years, with significant reductions occurring mostly in Israel and Australia.
5. The Gap
