By Daily Mail (U.S.) | Created at 2025-04-02 03:31:37 | Updated at 2025-04-03 05:37:32
1 day ago
A record number of Americans are expected to wave goodbye to some of their favorite mall brands.
As corporations report dwindling customer interest and increase store closure lists, many Americans are left grappling with their once-popular malls.
One mall in Toledo, Ohio, is a microcosm of the trend sweeping America.
'It is nice right now because there are deals on things,' Tori Klepsky, a fan of Forever 21, told local CBS affiliate WTOL.
'But then they're going to be gone and where do I go from there?'
Klepsky said she has gone to the Franklin Park Mall for years to purchase clothes from her favorite stores.
But Forever 21 recently filed for its second bankruptcy in five years and announced it will shut down all of its stores.
Klepsky's go-to clothing store officially shuttered its doors in the mall on Sunday, March 30.
Tori Klepsky (right) and Dyllan Miracola (left) spoke about some of their favorite stores closing in a nearby mall
And the fast-fashion chain is not alone.
Macy's, another brand going through a nationwide cutback of store locations, also created a recent vacancy in the mall.
'There are still plenty of things to do,' Dyllan Miracola, another resident, told the station.
'[But] once those stores are gone, there's not a reason to go anymore.'
City business leaders are adament the store closures are not a reflection of the money flowing through the local economy.
Both Toledo's director of economic development and Franklin Park Mall's spokesperson told WTOL that multiple companies have expressed interest in snapping up some of the now empty stores.
But national retail brands are struggling to excite shoppers at a shocking rate. Last year, another 7,000 storefronts closed across the US.
Dozens more have filed for bankruptcy in the past year, including Party City, Joann's, and Hooters.
Some malls are seeing new vacancies as corporate chains announce massive closure lists
A record number of retailers will shutter this year, experts predict
And while some once-thriving chains continue to hit financial distress, others are reaching record-setting sales numbers.
'There is not enough growth in the retail market for every player to do well,' Neil Saunders, a retail expert at GlobalData, previously told DailyMail.com.
'That is why we are seeing polarized results with some retailers doing badly and closing stores.'
Walmart, for example, is booming.
The company reported 9 percent growth in 2024 as it reached record-setting profits.
As popular retailers close and leave malls with dusty storefronts, retail experts say the mix of record-breaking sellers and struggling chains is common.
'The shake-out among unremarkable retailers has been going on for years,' Steve Dennis, a retail analyst and co-founder at Sageberry Consulting, told DailyMail.com.
'Retailers have been plagued by over-expansion, weak execution, and competition from Walmart and Amazon in particular.'
