Multiple stores, including Joann’s, JCPenney, Party City, Big Lots, and Denny’s, shutting down locations on Treasure Coast

Amidst the first few months of the year, numerous retailers across the United States find themselves grappling with bankruptcy filings, resulting in closures and downsizing. Among the latest casualties in this trend are well-known brands such as Joann Fabrics, Party City, and JCPenney. While some companies have revealed their plans to keep operating stores on the Treasure Coast, others are faced with imminent closures, leaving uncertainty and questions about the fate of various locations.

Big Lots, for instance, found itself filing for Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, which led to a significant increase in store closures, totaling over 340. The company later struck a deal with Gordon Bros. to transfer a substantial number of Big Lots stores to Variety Wholesalers Inc. While some Big Lots stores have shut down in places like Stuart and Vero Beach, the fate of their remaining Treasure Coast stores in Fort Pierce and Jensen Beach hangs in the balance.

Denny’s also joined the ranks of retailers facing closures, with plans to shut down 150 underperforming stores by the end of 2025. Despite intentions to close additional locations in the future, the company has not disclosed a list of specific targets. As for the three Denny’s establishments on the Treasure Coast, they currently remain operational, with Denny’s indicating a lack of advanced notice on closures due to their collaborative approach with respective owners and teams.

Following its Chapter 11 bankruptcy filing last year, JCPenney underwent a change in ownership, ultimately leading to the creation of a new company called Catalyst Brands in conjunction with Forever 21. Despite the company’s intention to close 8 stores by mid-2025, no JCPenney locations in Florida are slated for closure, including the two outlets on the Treasure Coast.

Joann Fabrics, in a bid to address its mounting debt, underwent bankruptcy filings in March 2024, securing additional financing in an attempt to navigate its financial challenges. Subsequently, store closures were announced, leading to another Chapter 11 bankruptcy filing in January. Consequently, the Joann’s location in Vero Beach will be closing its doors in the near future.

Party City also faced the repercussions of financial strain, filing for Chapter 11 bankruptcy in December and hinting at the possibility of liquidating assets in the absence of a successful sale. With two Party City locations on the Treasure Coast, residents await news on the fate of these stores in Jensen Beach and Port St. Lucie as the situation unfolds.

As businesses continue to navigate the complexities of bankruptcy filings, retailers and consumers alike are left watching closely to see the ultimate impact on their beloved establishments. With closures looming and changes on the horizon, the future of these stores remains uncertain, leaving stakeholders and communities to adapt to the shifting landscape of the retail industry.