From iconic department stores to neighborhood pharmacies, here are the major retail chains closing doors or downsizing their Rhode Island footprint this March.
1. The Department Store Decline: Macy’s
Macy’s is entering the final phase of its “Bold New Chapter” turnaround plan. Having already shuttered over 100 stores nationwide since 2024, the chain is currently liquidating its remaining underperforming locations to focus on its top-tier stores.
In Rhode Island, while Macy’s has historically anchored malls like the Warwick Mall and Providence Place, the company has been aggressively reviewing its portfolio. Shoppers should keep an eye on clearance sales at locations that have not seen recent “reimagining” investments.
2. Pharmacy Deserts: Walgreens
Walgreens is currently executing a massive three-year plan to close roughly 1,200 stores by 2027. Following the total exit of Rite Aid from the Rhode Island market in 2025, Walgreens has faced increased pressure to optimize its remaining 33 locations in the state.
The chain is targeting stores where leases are expiring or where pharmacy margins have eroded. Many of the 2026 closures are concentrated in urban areas where multiple stores overlap, raising concerns about “pharmacy deserts” in Providence and Pawtucket.
3. The End of an Era: Big Lots
After filing for Chapter 11 bankruptcy in late 2024 and being acquired by Nexus Capital Management, Big Lots has spent the last year drastically “optimizing” its footprint…