16. Lidl
How Many Stores Closing: 11
Current Value of the Business: $11.5 billion*
With its roots in America and the U.K., Lidl stands as a noteworthy discount grocery chain, flaunting a brand value of $11.5 billion. Despite its substantial value, Lidl’s CEO has voiced concerns over inflation and the rise of digital marketplaces. In a strategic move, Lidl closed eleven of its least performing stores in 2023.
The closure affected branches across various states, including Virginia, North Carolina, Pennsylvania, Maryland, South Carolina, and New Jersey, highlighting a careful pruning strategy. Despite these closures, Lidl demonstrated growth ambitions by initiating or planning new stores in North Carolina, Washington D.C., and Brooklyn, New York City.