Depot to Close 27 Locations Amid Insolvency

Advance Auto Parts is closing 139 locations in California and four distribution centers as part of a larger strategy to shut down 725 stores nationwide to improve profitability. Analysts cite inefficiencies in the supply chain as a driving factor for these closures, particularly affecting Southern California. Meanwhile, the German decoration retailer Depot is also restructuring, shutting down at least 27 branches due to insolvency and ongoing struggles since the COVID-19 pandemic. The company has already closed 17 branches, with further closures likely, resulting in about 50 job losses as they attempt to reposition themselves in the market and streamline their product offerings. Depot aims to stabilize by mid-2025, focusing on a concept store model amid changing consumer behaviors and rising costs. Both companies illustrate the broader retail sector challenges, including shifts in consumer spending and operational inefficiencies.