The retail landscape across the Commonwealth is shifting rapidly. Between the lingering effects of inflation, the continued dominance of online shopping, and major corporate restructurings, the physical storefronts we see in Pennsylvania towns and suburban malls are changing.
While some areas are seeing new growth, many familiar names are shrinking their footprints. For Pennsylvania shoppers, this means it’s time to use those gift cards and prepare for empty storefronts at local shopping centers.
Based on recent bankruptcy filings, corporate restructuring announcements, and ongoing “fleet optimization” plans, here are six major retail chains expected to close locations in Pennsylvania this year.
1. Rite Aid
This one hits close to home. The Philadelphia-based pharmacy chain has been navigating a difficult bankruptcy process begun in late 2023. While they hope to emerge stronger, the process involves shedding hundreds of underperforming locations nationwide to stabilize their finances.
Pennsylvania has already seen numerous closures in recent months, and more are expected throughout the year as the company finalizes its restructuring plan. Pennsylvanians who rely on specific Rite Aid locations for prescriptions should keep a close eye on local announcements, as prescriptions may need to be transferred to nearby CVS or Walgreens locations.
2. Macy’s
The iconic department store continues its long-term strategy of moving away from struggling B- and C-tier malls. Macy’s has been transparent about its plan to close roughly 150 underperforming stores across the U.S. over a three-year period, concentrating investment on their best-performing locations and their smaller “Market by Macy’s” concepts.
While specific Pennsylvania locations for the next round of cuts haven’t always been explicitly listed far in advance, several older mall anchor locations across the state remain vulnerable as leases come up for renewal.
3. Foot Locker
If you buy sneakers at the local mall, you might need to find a new spot soon. Foot Locker is in the middle of a massive pivot. The company announced plans to close as many as 400 underperforming stores by 2026.
Their new strategy involves moving away from smaller, older mall-based stores and focusing on larger, experiential “power stores” and stand-alone locations focused on sneaker culture. Expect to see smaller Foot Locker locations in older Pennsylvania malls darken their windows this year.
4. CVS Pharmacy
While Rite Aid is closing due to bankruptcy, CVS is closing stores due to “oversaturation.” The retail giant is nearing the end of a three-year plan announced in 2021 to close roughly 900 stores nationwide—about 300 per year.
The company stated these closures are necessary to adapt to changing population patterns and a shift toward digital health services. Pennsylvania residents in areas that currently have multiple CVS locations within a short distance of each other are most likely to see one of those locations shut down.
5. Express
Once a staple for office wear and going-out clothes, the mall-based apparel retailer Express is facing significant financial headwinds. The company has been actively trying to restructure its debt and manage falling sales as consumer tastes shift towards more casual wear and competitors like Zara and H&M dominate.
Express has indicated plans to reduce its store count significantly as part of cost-cutting measures. Shoppers at Pennsylvania malls should anticipate seeing Express locations—particularly those in malls with declining foot traffic—holding liquidation sales this year.
6. TGI Fridays
The casual dining sector has been struggling for years, and TGI Fridays has been hit particularly hard. The chain recently closed dozens of underperforming locations abruptly across the Northeast and Midwest.
Facing stiff competition from fast-casual options and rising operational costs, the company is “optimizing” its footprint. While some Pennsylvania locations remain busy, underperforming units in the state are at high risk of sudden closure as the brand tries to stabilize.
Are you seeing stores closing in your neighborhood? Let us know in the comments which closures are affecting your town the most.
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