2023 was a year of mixed signals for the U.S. economy. Inflation cooled a bit but remains a major problem. A long anticipated and feared recession never materialized, but many experts are still convinced it will arrive eventually.
But in one sense, this year was like any other: Several well-known businesses failed.
Even in the best of economic times, some companies don’t make it. In 2023, the following companies all went belly-up and disappeared from the nation’s radar.
Bed Bath & Beyond
Bed Bath & Beyond filed for Chapter 11 bankruptcy in the spring, and its brick-and-mortar stores are gone for good.
However, the brand itself got new life when Overstock.com paid $21.5 million so that the online retailer could rebrand itself as Bed Bath & Beyond.
Buy Buy Baby
Buy Buy Baby bid adieu to its customers earlier this year. The chain — owned by Bed Bath & Beyond — has closed all 120 of its locations for good.
Christmas Tree Shops
For some shoppers, this upcoming season will feel a little bluer now that holiday-themed chain Christmas Tree Shops has shuttered.
In July, the retailer announced that it was going out of business.
After nearly three-quarters of a century in business, Shoe City tied its laces and walked away from the retail world.
By the time summer rolled around this year, the footwear retailer had closed all of its stores following a bankruptcy filing in April.