The trend of the “retail apocalypse” in the U.S. has led to the decline of several chain stores that were once pivotal in American culture and shopping. With Kmart’s plan to close its last full-scale store in the continental United States in October, a review of other iconic American retailers that have closed in the past two decades is pertinent.
### Kmart
Kmart, a department store chain that operated approximately 2,300 locations in the early 1990s, is set to close its full-size store in Bridgehampton, New York, on October 20, as confirmed by a store employee to The Associated Press. This closure will leave a smaller Kmart store in Miami as the last one in the U.S. Kmart, now owned by Transformco, also has three stores in the U.S. Virgin Islands.
Kmart filed for bankruptcy in 2002 due to difficulties competing with Walmart and Target, subsequently merging with Sears and filing for bankruptcy again in 2018.
### Bed Bath & Beyond
Bed Bath & Beyond, founded in 1971 and once a retail giant, declared Chapter 11 bankruptcy in April 2023 following significant losses and unsuccessful business turnaround efforts. The chain liquidated its stores and closed permanently on July 30, 2023.
### Lord & Taylor
Lord & Taylor, America’s first department store established in 1826, succumbed to the coronavirus pandemic’s economic impact. The retailer filed for bankruptcy in 2020 and closed all physical stores the following year. The brand has since re-emerged in the online shopping market.
### Modell’s Sporting Goods
Modell’s Sporting Goods, a family-owned retailer since 1889, had over 150 stores at its peak. In February 2020, the chain announced the closure of 24 stores in an effort to remain operational. These efforts failed, leading to a Chapter 11 bankruptcy filing and the closure of all brick-and-mortar stores by August 2020.
### Pier 1 Imports
Pier 1 Imports Inc. filed for bankruptcy in February 2020, planning to sell the company. At the time, it operated over 1,000 stores in the U.S. and Canada. The retailer decided to liquidate its stores in May 2020, with the last stores closing in October that year. Retail ECommerce Ventures acquired the brand in July 2020, transitioning it to e-commerce.
### Circuit City
Circuit City, an electronics retailer, experienced a sharp decline in sales due to the rise of e-commerce giants like Amazon. The retail chain closed its physical stores in 2009 but attempted a comeback with a relaunched e-commerce website in 2018.
Greg Norman and Daniella Genovese of Fox Business contributed to this report.