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In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…all made worse by the COVID War which destroyed the lives and livelihoods of billions across the globe.
The combination of these factors has created an environment where business sustainability has become increasingly challenging.
Unfortunately, numerous businesses, from startups to established entities, have been unable to navigate these tumultuous waters.
The following list details businesses that, due to the aforementioned reasons, have made the tough decision to close their doors. As we review this list, it is a somber reminder of the vulnerabilities inherent in the business world and the imperative need for adaptive strategies in an ever-evolving economic landscape.
● M&S will be closing 67 stores in the U.K.
● Bankruptcy: Chapter 11, Kroger
● Bankruptcy: Chapter 11, Tattered Cover
● Bankruptcy: Chapter 11, Z Gallerie
● Bankruptcy: Chapter 11, Barretts Minerals Inc.
● Claussen’s, located at 10 Central Avenue NE in Le Mars Iowa
● Seven child care centers in Western North Carolina will close on Oct. 31
● Best Wishes Floral in Golden Valley MN
● 192 Brewing is closing its Mount Vernon location WA
● Round Table Pizza closing location in Folsom’s Broadstone Plaza
● Mayberry’s Restaurant in Brevard NC
● Energizer to close its Packaging Facility in Franklin Indiana
● Country Sun Natural Foods on California Avenue in Palo Alto CA
● Whaley’s Children’s Center in Flint MI
● Lucky Puppy Dog Rescue in Washington County Fla – May have to close
● Huntington Bank to close 11 locations in Minnesota all in Cub Food Stores
● Bankruptcy: Hello Bello – Chapter 11
● Bankruptcy: JAM Media Solutions moves from Chapter 11 to Chapter 7
● Boyer’s Food Market in Elysburg PA
● Hood Container to close Facility on Monroe Road in Matthews NC – 48 jobs lost
● Endless Horizons record shop in Odessa TX
● World Piece Pizza on Stone Avenue in Greenville SC
● Jacko’s Corner, located at 190 North Main Street in Salem NY
● Watertown’s New Repertory Theatre
● DHS Supply Chain to close Groveport Plant – 260 Jobs Lost
● The ShopRite supermarket chain plans to shut down five Capital Region NY locations
● Rochester City Schools NY – Approves closing 11 Schools
● Gateway Diner Westville NJ
● Bankruptcy: Metropolitan Brewing
● Buxton Hall Barbecue, in Asheville NC
● Digital Brokerage Convoy is closing with no buyers coming to the rescue
● Citizen Bank closing 2 Newark Area Supermarket branches
● Certified Freight Logistics – ceasing operations on Saturday
● Long Johns Silvers Raff Road in Canton OH
● Camping World of Amarillo Texas Location
● Charlie’s Crepes in Camden County in Merchantville NJ
● OkieSpice & Trade Co., 107 N. Main St. in Sand Springs OK
● Ruley’s Santa Claus Land in Louisville KY
● Pusser’s Caribbean Grille, Annapolis Waterfront MD
● Magic Beans in Wellesley MA
● Manhattan Grill in Downtown Louisville
● University of Wisconsin announce 1 campus to close, 2 others to end in-person class
● International Paper closing facilities in North Carolina and Florida – 900 jobs affected total
● Times Square’s Cachet hotel NY – 36 jobs lost
● Modicum Brewing Company in Altoona WI
● Cycle Dogs in Seattle WA
● International Paper’s containerboard mill in Orange County TX
● Rite Aid expected to close 150 stores