**Concise Summary:**
Major U.S. retail chains are facing unprecedented challenges, with over 50,000 stores at risk of closing, altering the economic landscape. Big Lots, Rite Aid, Bed Bath & Beyond, and others are struggling with declining sales, financial losses, and store closures. Big Lots plans to shut down urban stores by end of 2023 due to a significant net loss and loss of a major vendor. Rite Aid closed 145 stores in spring 2022 and anticipates more closures amid financial struggles. Bed Bath & Beyond filed for bankruptcy and is liquidating all stores. Other retailers like Party City, Dollar General, and Tuesday Morning are also facing bankruptcy or significant downsizing due to various operational and financial issues.
Retailers must adapt rapidly to survive in the competitive market, with many expected to disappear by the end of the year due to economic downturns and changing consumer behaviors.
Here are the key facts extracted from the text:
1. Over 50,000 stores are at risk of closing in the US, according to UBS.
2. Big Lots operates 1,425 stores in 48 states, but hundreds of locations have become unprofitable and may close soon.
3. Big Lots plans to close all its stores in urban centers before the end of 2023.
4. The company lost its largest furniture vendor in November and reported a net loss of $210.7 million in the fiscal year ending January 31.
5. Rite Aid reported the closure of 145 stores in the spring of 2022, and more locations are expected to close in 2023.
6. Bed Bath & Beyond has filed for Chapter 11 bankruptcy and plans to close all 360 of its locations and 120 Buy Buy Baby stores by June 30.
7. Party City went bankrupt at the beginning of 2023 and is closing all its stores.
8. Dollar General is closing several locations in California, Colorado, Indiana, and Ohio, and is facing a potential lawsuit related to workplace safety violations.
9. Tuesday Morning filed for bankruptcy and plans to close 264 of its 464 stores.
10. CVS plans to close 900 stores nationwide due to declining foot traffic and sales.
11. Amazon is closing its Amazon Go and Amazon Fresh stores and will stop operating new branches.
12. Nordstrom is on Moody's Analytics' bankruptcy watch list and has closed its operations in Canada and several locations in the US.
13. Best Buy has closed over 80 locations since 2019 and plans to close more stores this year.
14. The Children's Place plans to close 265 stores, but has yet to share details about which locations will be impacted.
15. Corner Bakery has filed for Chapter 11 protection and is seeking to find another buyer to pay its debt and take control of the company.
16. Mattress Firm is at risk of going out of business due to declining demand and a potential bankruptcy filing by one of its major suppliers.
17. Kirkland's has seen a decline in sales and profits and is facing significant threats to its future due to the recession.
18. Express is at risk of becoming a casualty of the developing recession due to its limited size options and fashion trends.
19. UBS predicts that over 50,000 stores will close in the US in the coming months.
20. The US retail landscape is expected to change significantly in the coming months due to the retail apocalypse.