(CNN)– Store closing has hit their highest levels in years. Among them, Family Dollar announced 677 store closings this year, Walgreens is closing 259 locations, and Denny’s are closing 150 restaurants. Coresight Research says major retailers announced more than 61 hundred store closures so far this year, already outpacing last year’s total of more than 55 hundred. Chains are on track to close the highest number of stores in 2024 than any year since 2020, when the pandemic decimated the industry. Small players are being crushed by competition from bigger companies such as Amazon, Walmart, Costco, and Home Depot, and by offering higher prices than many consumers can afford. Also, years of over-expanding and failed strategies are coming back to bite some chains. Categories: News Tags: U.S. economy