Malls are struggling to keep customers, which might be evident when you look at all the mall retailers closing up and declaring bankruptcy.
Stores like rue21 and The Body Shop have already declared bankruptcy this year and shuttered all their locations. Other retailers like Express have also declared bankruptcy, but some locations are still operating.
Store closings and bankruptcies are becoming a trend and more retailers could follow. Here are a few where you may be able to save money shopping when they announce they're going out of business sales.
Earn cash back on everyday purchases with this rare account
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!1
With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!
This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.
Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.
Apply for a Discover Cashback Checking account today
The Container Store
The Container Store continues to struggle with sales and could be on the path to bankruptcy if things don’t turn around.
The company's debt is maturing in 2025 and will have to be paid, or the retailer
will face serious consequences. However, a lack of strong revenue could make
paying back those debts a real
problem.
Fossil
Watchmaker Fossil said goodbye to its longtime CEO this year, partially due to the company’s ongoing financial issues.
The retailer posted less-than-stellar earnings reports this year, and S&P Global Ratings downgraded its credit rating due to its continuing financial problems.
JCPenney
JCPenney declared bankruptcy in 2020, but there are signs that issues are worsening, and it may have to make even more changes to close locations.
The company recently closed four anchor store locations, including stores in Alabama, Maine, Maryland, and Texas, with little announcement. It also continues to see declines in income, which could lead to more bankruptcy issues and closures.
Get a protection plan on all your appliances
Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.
Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.
For a limited time, you can get your first month free with a Single Payment home warranty plan.
Sleep Number
You might have a Sleep Number mattress company in your local mall but it won’t be there for long.
The company continues to struggle with revenue, making it likely to disappear from your local mall or shopping area. One potential reason for the issue was the lack of home sales in recent years when shoppers are more likely to buy a new mattress.
Macy’s
Macy’s might be a big anchor store at your local mall, but its financial struggles could lead to trouble ahead.
The company’s most recent quarter of earnings were lackluster, causing its stock price to tumble on the news.
The decline came after Macy’s announced earlier this year that it plans to shut down 150 stores over the next three years to address some of the financial problems.
Trending Stories
Foot Locker
Foot Locker has struggled the past few years with issues related to fewer customers going to malls, which has caused its income to decline.
It also didn’t pivot to e-commerce in a timely fashion, while other mall retailers started to rely more on online sales to stem the loss of in-person sales.
Foot Locker has seen a turnaround in sales in recent months, but it remains to be seen whether this will lead to the company seeing more success or sinking into possible bankruptcy.
Kohl’s
Kohl’s has added store-in-store options to attract new customers, such as Sephora for makeup and Babies R Us for extra children’s needs.
But the company is still having financial issues, as revenue continues to decline. If the retailer can’t pull itself out of its hole, it could file for bankruptcy.
Bottom line
Malls are already struggling, so it can be tough when more retailers close their doors due to lagging sales or other economic struggles.
However, those closings could help you save money if you find ways to keep cash in your pocket to prepare yourself financially for saving cash that you can use for other financial goals.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Subscribe Today
Want extra-cash moves to come right to you?
Stop browsing endlessly. Get proven ways to earn pocket money, help cover rent, and crush your debt — sent to your inbox daily.