Over the last two decades, the world of business has undergone some serious changes. A lot of innovation from companies operating in the online world has had a seriously negative effect on some traditional brick-and-mortar businesses in recent years. Let’s take a look at some of the once well-known businesses that used to fill parking lots and draw in mall traffic, which now, for one reason or another, no longer exist. This trip down memory lane will definitely spark ideas about how much the retail industry has changed over the years.
Blockbuster
During the age of video and DVD rentals, Blockbuster was essentially like the ‘Netflix’ of its time. It was once hailed as the most popular video and DVD rental store in the US, and they had over 9000 stores, according to Medium. The company was started in 1985 by David Cook, a technician. It was later sold to Viacom. However, due to the rapid rise and adoption of online streaming services like Netflix itself, the company started to wane. By 2010, the company had already filed for bankruptcy and started closing all of its stores.
Bed, Bath & Beyond
Bed, Bath & Beyond has long been a staple of American homeowners and avid DIYers. The company specialized in offering products related to home decor and home improvement and was quite popular for a while. Originally founded in 1971, the store was called ‘Bed ‘n Bath’. However, due to the increased changes in the retail market, a lot more people found themselves ordering online instead, as the prices were generally a lot lower. Bed, Bath & Beyond sadly closed down in 2023, with the company filing for Chapter 11 bankruptcy.
Fry’s Electronics
Fry’s Electronics was widely considered a one-stop-shop for people interested in by electronics, tech, and even software. The company was known for having huge branches and managed to set up 34 stores across 9 states during its peak. However, with the rise of big online retailers like Amazon, more and more people started favoring online purchases and the company’s profits started to fall. In 2021, the company decided to shut all of its stores practically overnight, claiming that the COVID-19 pandemic had seriously affected their sales.
A & P
A & P, once known as ‘The Great Atlantic and Pacific Tea Company’, was one of the most successful grocery store chains in America. At the height of their success, the company had almost 16,000 locations in both American and Canada. The company was also very old, and was originally founded in 1859! However, with rising competition from larger, wholesale retailers in more recent years, the company was slowly forced out of business, ending their more-than-a-century-old run in the groceries market.
Discovery Channel Store
The Discovery Channel is well-loved and widely-viewed TV channel that focuses on educational and documentary content spanning topics like science and nature. During the early 90s, the company tried to expand their market by opening physical retail stores to try and sell Discovery-related merchandise to customers. However, by 2007, the company decided that the market wasn’t fruitful and closed their stores. Some of the merchandise is still available for sale online today.
Jitney Jungle
Jitney Jungle is another legacy company that sadly went under in more recent years. The company was founded in 1919 and was essentially a cash-and-carry grocery store. However, they were considered some of the first to introduce new innovations like self-service and unique discount formats that helped to set them apart from other retailers. However, in the mid-90s, the company merged with a New York investment firm. The deal was bad and put them in a lot of debt. They were forced to start closing stores in 2000.
ZanyBrainy
ZanyBrainy was a toy store that was opened by parent company FAO Schwarz in 1991. The store was supposed to be a more ‘market friendly’ option for the parent company, offering more accessible toy options to customers. The store was initially quite successful and managed to open roughly 187 stores across America. However, after acquiring a rival chain called Noodle Kidoodle in 2000, the company shortly filed for bankruptcy in 2001, closing all of its stores.
Steve & Barry’s University Sportswear
Steve & Barry’s University Sportswear was once cited as being the fastest growing retailer in the US. The company focused on selling university-related clothing items, as well as supporting ‘all-American’ brands like Hershey’s, Marvel and My Little Pony. Founded in 1985, the company started out with lots of success. However, during 2007 and 2008, the company had been posting huge losses. They filed for bankruptcy protection and began liquidating all of their stores.
Dressbarn
Dressbarn was a well-known brand that catered to women’s fashion needs. The company was started in 1962 when founder Roslyn Jaffe saw a gap in the market for wear-to-work dresses, as more and more women started joining the workforce. The company proved to be successful. However, in more recent years, consumer demands and the changing retail economy proved to outpace that of the retailer and they went bankrupt in 2019, closing all of their 650 stores.
CompUSA
CompUSA was another tech and computer retailer that was founded in 1984 in Texas. The retailer had a largely successful run during its timeline, opening around 229 stores during their lifetime. However, the growing trend towards buying computer hardware and software online from e-commerce platforms showed that the company had fallen behind consumer demands. Their inability to innovate in the online realm forced them to close their stores in 2012.
Levitz Furniture
Levitz is yet another legacy brand that was founded all the way back in 1910 by Richard Levitz. The company was largely successful during its lifespan, opening 129 stores across America. However, like so many retail stores of the modern 2000s era, many faced stiff competition from e-commerce platforms. In 2008, 2 years before reaching their centenial mark, Levtiz Furniture was forced to close all of their stores across the country and shut down operations. If you liked this article, please be sure to check out our website for more!