More than 800 big box retail stores are set to close across the nation this year - including Walmart

America is bracing for a mass exodus of retail stores across the nation this year, with more than 800 big box locations set to close from California to New York.

Among the iconic names to announce they are downsizing includes Bed Bath & Beyond, Walmart, Gap and Party City.

At least 803 stores are set to be shuttered over the rest of 2023, with many forced into desperate cost cutting measures amid rampant inflation and declining bottom lines.

Homeware giant Bed Bath & Beyond is planning to close 416 of its stores this year as the struggling retailer struggles to stay afloat.

Topping the list of brands to close down their stores is houseware giant Bed Bath & Beyond.

The retailer once owned more than 1,500 stores across America, but a recent purge has seen it aim to end the year at just 480.

The company has suffered through a tumultuous few months in the leadup to its latest decision, including massive losses, the death of its CEO, and an activist investor selling a huge stake in the company.

At least 416 of its US stores have been identified for closure, while every one of its 65 stores in Canada are also set to be shut down.

Despite owning 953 locations across North America just a year ago, by the end of 2023 there will be only 360 flagship Bed Bath & Beyond stores in America alongside 120 Buybuy Baby locations.

The state that will be hit the worst is California, which will see 35 stores close, while Florida will lose 21, New York will lose 23, and Illinois will lose 18.

Second on the list of stores looking to close up shop is Tuesday Morning, which is shutting down more than half its locations in a desperate move to survive bankruptcy.

The home goods company is closing 265 stores as it struggles to survive, which will be its second wave of store closures in three years.

Its massive reorganization comes as the chain filed for Chapter 11 bankruptcy this month, meaning it is now forced to close its least profitable stores.

These have primarily fallen in California, which will see 30 stores closed, Florida, which will lose 23, and Texas, which will lose 19.

Other states set to see large closures includes Virginia with 10, Georgia with 12 and Colorado with 14.

https://www.dailymail.co.uk/news/article-11773295/More-800-big-box-retail-stores-set-close-nation-year.html