The retail sector has been deteriorating over the last two years after recovering from the Covid-19 pandemic when retailers were forced in 2020 to close their doors at the beginning of the pandemic and later reduce customer occupancy in stores once they reopened.

The closures would be the latest in a series of high-profile issues involving national retailers. Earlier this month, fabric and craft chain JOANN announced it was closing 500 stores as part of its bankruptcy proceedings and, earlier in the year, Big Lots said it would shutter hundreds of its locations.

Fast fashion retailer Forever 21 is reportedly exploring a second bankruptcy as it explores strategic options in a challenging environment.