Why are TJ Maxx and Marshalls closing stores? Reasons, affected outlets, and everything to know

American department stores TJ Maxx and Marshall, which offer products at prices that are typically cheaper than other retailers are closing a number of their locations across the US. According to WARN letters issued by TJX Companies, at least three stores will be closed in January 2024 with some set to be closed before that.

Both TJ Maxx and Marshalls are known for their significantly lower prices and have more than 1000 locations across the US. As one of the biggest clothing retailers in the US, TJ Maxx is loved by fans for its presents, household essentials, furniture, clothes, and a lot more.

TJ Maxx and Marshalls' parent company TJX was re-evaluating its real estate initiatives before announcing its closures, a company spokesperson told Bronx News 12. The spokesperson stated that this was due to the advent of online shopping presenting a serious challenge to their stores.

They added that it was getting increasingly tough for the stores to establish an online marketplace for themselves. The stores are reportedly completely dependent on their physical shops. Owing to this, the company announced the closing of multiple stores across the US.

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TJ Maxx and Marshalls stores in Minnesota, Bronx, Brooklyn, Chicago, and some others set to close soon

Some of the Marshalls stores are also closing (Image via Instagram / tjmaxx)

The shifting retail scene in the post-COVID era impacted almost everyone in the industry. Major retailers like Walmart, Target, and Dick's Sporting Goods issued warnings about shrinking inventories and consumers who are choosing to live frugally. TJX Companies is yet another retailer affected in the post-COVID era and while the company managed to remain mostly above the fray, that isn't the case anymore.

Several Marshalls stores are shutting down all across the country. One TJ Maxx store has already closed in St. Paul, Minnesota and several other stores are set to follow suit between now and early 2024. The employees impacted by the closure of the St. Paul store were offered jobs at other locations within the city, per Axios.

TJX Companies filed a WARN notice on October 25, 2023, to inform the state of New York about the closure of a TJ Maxx store in Brooklyn and a Marshalls store in the Bronx. Both the stores will close by January 6, 2024. A second location of a Marshall's store in New York will close after the new year. Meanwhile, Philadelphia's Marshalls is scheduled to close on December 9, 2023.

The TJ Maxx store in Brooklyn, which is located at 503 Fulton Street, is closing as well. The store employs 69 non-union workers, all of whom will lose their employment in early January following the hectic holiday season. They will be let go by the corporation.

On the other hand, the Marshalls store, located at 610 Exterior Street in the Brox borough of New York City, will close its doors at the beginning of January 2024. As per Diario AS, the company said that the separation of around 100 employees will begin "on, or around January 10, 2024." The outlet noted that there were no additional details provided about the whereabouts of the store's employees.

There are also a number of TJ Maxx stores in Chicago on the list. Block Club Chicago has learned that the store, located at 1008 S. Canal Street in Chicago, will close by January 6, 2023. The location has been open since 2014. As per the Streets, addressing the closing, the company said that they are

"assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking."

However, it is worth noting that stores in Maryland appear to be off the list at this time.