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The 20 Biggest Stores That Closed for Good In 2020

It was a tough year for us all.

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seen here is a big box retail store closed due to bad economic times  no visible logos
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It was a difficult year for everyone, and it’s no secret that many retailers — and, sadly, their employees — took a huge financial hit in 2020. The ease of online shopping (and movement away from shopping malls) has affected brick-and-mortar stores for at least a decade, and the pandemic and shutdowns caused even more major stores to shutter.

While some companies downsized and closed only the worst-performing stores, others closed all stores forever. A few companies decided to reimagine themselves solely as online retailers, though not all have managed to achieve that goal just yet. Unfortunately, no matter what 2021 year brings, retail analysts say that the closure trend will likely continue as people stay home, malls continue to disappear and consumers stick to online shopping to fulfill their retail needs. In the meantime, here are some of the beloved retailers who have been forced to shut their doors forever.

1

GNC

new york, ny, united states   20180615 gnc store in union square in new york city photo by michael brochsteinsopa imageslightrocket via getty images
SOPA Images//Getty Images

Founded in 1935 in Pittsburgh by David Shakarian, GNC grew through the decades as more Americans began to embrace the idea of good nutrition.

2

GNC

new york, new york   june 28 a gnc store displays store closing signs as the city moves into phase 2 of re opening following restrictions imposed to curb the coronavirus pandemic on june 28, 2020 in new york city phase 2 permits the reopening of offices, in store retail, outdoor dining, barbers and beauty parlors and numerous other businesses phase 2 is the second of four phased stages designated by the state photo by cindy ordgetty images
Cindy Ord//Getty Images

After several years of financial pressure, the pandemic crushed its refinancing plans. In June 2020, GNC filed for Chapter 11 bankruptcy, planning to close at least 800 to 1200 stores.

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3

Pier 1 Imports

rochester hills, michigan, usa   june 8, 2016 the pier 1 imports store in rochester hills, michigan pier 1 imports is a chain of stores offering furnishings from around the world founded in california in 1962, pier 1 imports operates over 1000 locations nationwide
RiverNorthPhotography//Getty Images

Pier 1 Imports began as a single store in San Mateo, California in 1962. They sold the requisite 60s home decor including bean bag chairs and incense. The company expanded rapidly across the country, celebrating its 50th anniversary in 2012. But by April 2019, pressured by online sales of home goods retailers, Pier 1 already was in financial trouble and said it would close up to 15 percent of its almost 1000 stores.

4

Pier 1 Imports

feb 21, 2020 redwood city  ca  usa   pier 1 import store pier 1 imports inc, an american retailer specializing in imported home furnishings and decor, filed for chapter 11 bankruptcy protection
Sundry Photography//Getty Images

In February 2020, the company filed for Chapter 11 bankruptcy. It continued to close its remaining stores, transitioning to an online presence only by year's end.

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5

Victoria's Secret

chongqing, china   20200829 american designer and manufacturer of womens lingerie, victorias secret store and logo seen in chongqing photo by alex taisopa imageslightrocket via getty images
SOPA Images//Getty Images

Founded in 1977, the company became the largest lingerie retailer in the U.S. for decades. The iconic fashion shows and "Angels" attracted a generation of devoted shoppers.

RELATED: 11 Best Wireless Bras for Every Cup Size

6

Victoria's Secret

victorias secret lingerie shop display in the center of dublin
on saturday, november 14, 2020, in dublin, ireland photo by artur widaknurphoto via getty images
NurPhoto//Getty Images

Perhaps more at home time meant fewer women wanted lacy underthings and push up bras? Sales declined by 37 percent in the first quarter of 2020. By May, the company announced it would close approximately 250 stores out of its more than 1000 in the U.S., and it said it expected to close more through 2021 and 2022.

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7

Bed Bath & Beyond

a shopper walks towards a bed bath  beyond store in louisville, kentucky, us, on saturday, jan 2, 2021 bed bath  beyond inc is scheduled to release earnings figures on january 7 photographer luke sharrettbloomberg via getty images
Bloomberg//Getty Images

Owned by the same parent corporation as Victoria's Secret, Bed Bath & Beyond already had been battling the shift in consumer spending from brick-and-mortar stores to online shopping. Even their famous coupons couldn't help.

8

Bed Bath & Beyond

los angeles, ca   april 10  signs are posted inside a bed bath  beyond store on april 10, 2013 in los angeles, california the home goods retailer is expected to release fourth quarter earnings figures after the closing bell  photo by kevork djanseziangetty images
Kevork Djansezian//Getty Images

The company's sales plummeted 49 percent in the first quarter, though online sales increase by 82 percent. Still, it wasn't enough to save the approximately 1,000 stores in the chain, and, in July 2020, the company announced that about 200 stores would close over the next two years.

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9

Stein Mart

miami, florida   august 12 a stein mart store is seen on august 12, 2020 in miami, florida stein mart announced that it has filed for chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, partially blaming the change in shopping habits during the coronavirus pandemic for the bankruptcy photo by joe raedlegetty images
Joe Raedle//Getty Images

The company dates back to 1908, when the Stein family opened its first retail store in Greenville, Mississippi. The first Stein Mart opened in 1964, featuring mill closeouts and irregulars at big discounts. The company grew rapidly into the 1990s.

10

Stein Mart

miami, florida   august 12 a sign reading,  entire store on sale, is seen at the entrance to a stein mart store on august 12, 2020 in miami, florida stein mart announced that it has filed for chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, partially blaming the change in shopping habits during the coronavirus pandemic for the bankruptcy photo by joe raedlegetty images
Joe Raedle//Getty Images

Stein Mart already was struggling against much larger off-price competitors such as TJ Maxx. By August 2020, they announced they would be closing all 279 stores across 30 states permanently.

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11

JCPenney

florida, spring hill, nature coast commons, shopping mall, jc penney, department store photo by jeffrey greenbergeducation imagesuniversal images group via getty images
Jeff Greenberg//Getty Images

Founded by James Cash Penney in 1902 in Kemmerer, Wyoming, this venerable old company has seen plenty of internal struggles with multiple CEOs in the past decade. Once a popular middle-class destination for families, especially in the 80s, the chain had lost money in eight of the last nine years, totaling $4.5 billion.

12

JCPenney

orlando, florida, united states   20200821 a jcpenney store that is in the process of closing after the department store chain filed for chapter 11 bankruptcy protection three months ago, is seen at fashion square mall 
amazon has been in talks with the largest mall owner in the us to convert stores formerly or currently occupied by jc penney co and sears holdings corp into amazon distribution hubs photo by paul hennessysopa imageslightrocket via getty images
SOPA Images//Getty Images

By May 2020, the chain announced it was filing Chapter 11 bankruptcy and closing about 200 of its 850 stores permanently. By year's end, the company had emerged from bankruptcy as a private company.

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13

Signet Jewelers (Kay, Zales, Jared)

miami, dadeland mall, kay jewelers photo by jeffrey greenberguniversal images group via getty images
Jeff Greenberg//Getty Images

The world's largest retailer of diamond jewelry, Signet Jewelry, is the parent company of Kay Jewelers, Zales and Jared The Galleria of Jewelry. The company operates more than 3,000 stores nationwide. But it had already reduced its number of stores in the last few years and continued to pull out of malls.

14

Signet Jewelers

statesville, nc, usa june 19, 2019 a kay jewelers retail store building, a brand of signet jewelers, based in the uk
J. Michael Jones//Getty Images

Plans to continue closing underperforming stores were accelerated during the pandemic. About 150 stores across the company's various brands were not re-opened after the mid-March closures, and at least 150 more stores were slated to close by February 2021. But a little good news: Signet focused on building its online shopping, which helped them increase online sales during the holidays by 60 percent.

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15

Men's Wearhouse

november 27, 2017 burbank california usa mens wearhouse retail store exterior entrance sign and logo mens wearhouse is a mens dress clothes retailer in the united states the company announced plans to close roughly 250 stores this year that includes shuttering 80 or 90 full price jos a bank stores
Jorge Villalba//Getty Images

Men's Wearhouse, part of the Tailored Brands, Inc. group, has been in business for 45 years, helping guys pick suits for interviews or tuxes for formal events.

16

Men's Wearhouse

san francisco, ca, usa   feb 9, 2020 a family of four walking past the mens wearhouse store on market street in the soma district in san francisco, california
hapabapa//Getty Images

You're not the only one who's spent plenty of time in your athleisure this year. The company already was facing a more relaxed dress code in most business environments. But the work-from-home pandemic put additional financial pressure on the parent company, which also owns men's retailer Jos. A. Banks, which was founded in 1905. By August, Tailored Brands files bankruptcy and announced plans to close up to 500 of its almost 1500 retail stores permanently.

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17

GameStop

new york, new york   january 27 gamestop store signage is seen on january 27, 2021 in new york city stock shares of videogame retailer gamestop corp has increased 700 in the past two weeks due to amateur investors photo by michael m santiagogetty images
Michael M. Santiago//Getty Images

The video game retailer GameStop has a strong following, but sales have slumped as more gamers prefer digital downloads, not trips to the store. It alsos was affected because many shoppers held off on purchases because a new generation of gaming consoles was scheduled to be introduced in late 2020.

18

GameStop

shoppers wear protective masks inside a gamestop corp store in san diego, california, us, on monday, jan 25, 2021 california, a recent epicenter of the coronavirus pandemic, has lifted its regional stay at home orders as the outbreak slows across the state and hospitalizations ease photographer bing guanbloomberg via getty images
Bloomberg//Getty Images

The company has closed almost 800 stores since the beginning of 2019. But the pandemic pushed closure of another 100 stores. In good news, the company experienced strong sales over the holidays and its stock skyrocketed in January 2021. But it's too early to tell the outcome.

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19

Tuesday Morning

dallas , may 27, 2020     photo taken on may 27, 2020 shows a tuesday morning store in plano of texas, the united states us off price retailer tuesday morning has filed for bankruptcy protection amid the covid 19 pandemic, the company said wednesday photo by dan tianxinhua via getty xinhua via getty images
Xinhua News Agency//Getty Images

This popular off-price retailer was founded in 1974 by Lloyd Ross, who came up with the idea of selling left-over inventory from the big brands. He hosted a huge garage sale in a Dallas warehouse on a Tuesday morning, and the ideas was born. The store grew to 700 locations by 2020.

20

Tuesday Morning

a store closing sign is displayed in the window of a tuesday morning retail store in baileys crossroads, virginia, us, on thursday, june 11, 2020 tuesday morning corp filed for chapter 11 last month in the latest example of a retailer going under amid covid 19 shutdowns that have shuttered stores across the us photographer andrew harrerbloomberg via getty images
Bloomberg//Getty Images

With the shutdown, Tuesday Morning was hit particularly hard--mainly because they have no e-commerce business. The company filed for bankruptcy in May 2020, closing approximately 230 stores.

Headshot of N/A Arricca Elin SanSone

Arricca SanSone writes for CountryLiving.com, WomansDay.com, Family Circle, MarthaStewart.com, Cooking Light, Parents.com, and many others. She’s passionate about gardening, baking, reading, Polish pottery, vintage cookbooks, and spending time with the people and dogs she loves.

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