Popular discount chain and Dollar Tree rival holding huge clearance sales as it closes stores for good across the US
A BELOVED budget retailer looks set to close a raft of stores in the coming weeks.
More than a dozen Dirt Cheap outlets are set to shutter around May 6 and bumper clearance sales have already started.
Dirt Cheap, a Dollar Tree rival, has more than 80 stores across the US after it was founded in Mississippi around 30 years ago.
But, 13 stores in Texas, including in cities such as Arlington, San Antonio, and Waco, face closure, as reported by the radio outlet KTYL.
Shoppers can grab a bargain as clearance sales are being held at the affected stores, with prices cut by at least 40 percent.
The closures mean that there will be only two Dirt Cheap stores left in the Lone Star State.
read more on store closings
Dirt Cheap’s Columbus, Georgia store is also set to close its doors by May 6, as reported by News Break.
The retailer's stores in Phenix City and Auburn, Alabama ceased trading in March, and clearance sales are currently being held at its Enterprise and Mobile locations.
Dirt Cheap has 31 stores in Mississippi, but the retailer also has a presence in Arkansas, Florida, Louisiana, and Tennessee.
Thousands of stores have shut up shop in recent years as a phenomenon, dubbed the “retail apocalypse” has hit the sector.
Most read in Money
Experts believe that the crisis has been fueled by online shopping, the growing unpopularity of malls, and the death of middle-class consumers, Vox reported.
The issues facing the retail sector were compounded during the pandemic.
Retailers closed 12,000 stores in 2020 and over 9,300 stores stopped trading in 2019, as per The Week.
A tally compiled by Insider has warned that at least 1,400 stores are expected to close this year.
Chris Kuiper, an analyst at CFRA Research, told The Week, that large brick-and-mortar stores are a “format that does not work anymore.”
Kuiper added: “People don't want to wade through a four-story megastore to find a couple of items."
Huge chains have announced intentions to downsize.
Beloved sportswear giant Foot Locker has announced plans to close 400 “underperforming locations" by 2026.
The luxury department chain Nordstrom said it was closing down its entire fleet of Canadian stores after admitting that its Canadian business isn't profitable.
Macy’s has closed more than 100 stores since 2020, and more than 20 Party City stores will cease trading after the crafts retailer filed for bankruptcy.
The “retail apocalypse” has also seen stores with rich histories go to the wall.
Read More on The US Sun
Hegedorn’s Market in Webster, New York, will be shutting down on June 30 after 70 years of business.
And the iconic Ben Franklin variety store in Canton, Ohio has closed after more than six decades of trade.