These big stores are closing in Ohio and elsewhere this year

Laura Morrison
·3 min read

**Related Video Above: JOANN Inc., fabric and craft company, filed for bankruptcy earlier this week

CLEVELAND (WJW) — When stores close, it can lead to a time of mourning to those who found comfort in their aisles and departments.

Already this year major retailers have announced plans to close up locations in Ohio and beyond, citing various reasons such as competition from online sellers, looking to downsize and also blaming crime in certain areas.

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Here’s a look at retailers who have closed locations within the last few months in Ohio:

FILE - A woman walks with a boy to the Best Buy store at the Mall of New Hampshire, Tuesday, Aug. 4, 2020, in Manchester, N.H. Best Buy reported declines in fiscal first-quarter sales and profits, Friday, May 25, 2023 as the nation’s largest consumer electronics chain continues to wrestle with a consumer spending slowdown in gadgets. However, the company’s profit beat Wall Street expectations even as sales were below expectations. (AP Photo/Charles Krupa, File)

BEST BUY
The Wooster, Ohio, location has already shuttered its doors as the company recently announced plans to close multiple stores across the county during an earnings call. Best Buy, known for its wide array of electronics and appliances, is reportedly closing between 10 to 15 spots by 2025. For now, the company has just over 1,000 locations across the country.

JOANN FABRICS AND CRAFTS
Wooster was also hit with another closure earlier in the year, with Joann Fabrics shutting down in February. A location in Zanesville, Ohio, also was closed in January. On Monday, Hudson-based Joann Inc. announced the company has filed for Chapter 11 bankruptcy, but plans to operate as usual in the meantime. There are about 800 Joann stores across the country.

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RITE AID
After the pharmacy filed for Chapter 11 bankruptcy protection in October, seven local stores were announced for closure the following month. By February 2024, the company announced two other stores, one in Lorain and another in Middlefield, would be closed as well. The company said the combination of costly opioid-related lawsuits and declining sales were to blame for their financial woes.

WALMART
Walmart, yes, Walmart, one of the most well-known retailers on the planet closed down a location in Columbus officially on March 4, saying it did not perform as well as other stores. The company operates 170 stores, including Sam’s Clubs in Ohio. FOX 8’s sister station WCMH reported the company has no other plans to close locations in the state.

These companies announced plans to close stores around the country, and it remains unclear if Ohio is going to be affected:

DOLLAR TREE/FAMILY DOLLAR
Last week, Dollar Tree, which also owns Family Dollar, cited a $1.7 billion net loss over three months as the reason for a company-wide “restructure.” The company is planning to close nearly 600 stores and let another 400 locations’ leases expire. They have about 16,000 stores throughout the U.S. and Canada.

FILE - A shopper exits Macy's at the Woodfield Old Orchard Shopping Center in Skokie, Ill., Feb. 19, 2022. Macy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan. Arkhouse and Brigade offered $21 per share for the stock they don’t already own. The department store chain also said there was a lack of compelling value in the non-binding proposal. The move comes a week after Macy's announced job cuts and store closures. (AP Photo/Nam Y. Huh, file)

MACY’S
At the end of February, Macy’s announced it would close 150 stores (at least 50 of those within the year), due to declining sales and a recent quarter loss. One of the stores chosen to close already is the company’s San Francisco flagship. The company said it plans to focus on other stores in its portfolio, including Bloomingdale’s and Bluemercury beauty stores.

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