A wave of retail and banking closures is unfolding across New Jersey as major national chains continue restructuring efforts and downsizing strategies.
The closure of two Macy’s stores at Livingston Mall in Livingston and Interstate Shopping Center in Ramsey this year, eliminating up to 89 jobs, according to notices filed with the state.
Macy’s previously disclosed 66 national locations under consideration for closure as part of its “A Bold New Chapter” strategy, which the company unveiled in February 2024.
In February 2026, apparel chain Francesca’s filed for bankruptcy and exited brick-and-mortar retail entirely, with more than a dozen New Jersey locations — including stores at Cherry Hill Mall and Bridgewater Commons — closing that same month.
Video game retailer GameStop closed eight locations across the state earlier this year, including stores in Deptford, Somers Point, Newark and North Bergen.
In March, discount grocer Grocery Outlet shuttered six sites in New Jersey as part of a 36-store national closure plan, while pharmacy chain Walgreens reduced its footprint, with three Garden State locations affected under its plan to close about 1,200 stores nationwide.
The banking sector is also seeing consolidation.
TD Bank is closing six New Jersey branches this year, part of an ongoing effort to streamline operations and invest more heavily in digital banking services.
Additionally, luxury off-price retailer Saks OFF 5th announced in January that it was closing locations in Bridgewater, Shrewsbury and Elizabeth as part of a bankruptcy restructuring.
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