The 2024 markets saw ebbs and flows, big gains and losses, which translated directly into some of America’s favorite retail, dining and travel brands.

Debtwire, the data analytics company that tracks all things corporate stress and bankruptcy, has revealed the names that came out on top this year and who fell to the bottom.

winners

JOANN Fabric and Crafts

Well-known craft store retailer JOANN filed for Chapter 11 bankruptcy in March and managed to get through it without closing a single store and halving its $1 billion debt.

“This is a company that saw a huge increase in revenue as a result of the pandemic. More people were at home doing crafts, buying all the products that JOANN sells. But that revenue (has normalized) since then have normalized. -pandemic level, while we’ve seen shopping habits change, fewer people in stores, spending go up,” Debtwire chief legal officer Sarah Foss told Fox News Digital.

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“With JOANN, really just getting rid of the massive amount of their debt was key for the company, and I think it’s really a restructuring like this that gives some kind of hope to the retail sector.”

Debtwire’s top business gainers for 2024 were JOANN Fabrics and Rite Aid, while the biggest losers were 99 Cents Only Stores and Big Lots. (Getty Images)

Rite Aid

Pharmaceutical retailer Rite Aid is also considered a 2024 hit in Debtwire’s eyes, maintaining customer loyalty despite its “contentious” Chapter 11 bankruptcy case.

“Right after they filed for bankruptcy, there was talk of closing the doors completely, liquidating. But the company was able to move forward with a plan,” Foss said.

“Rite Aid needed people to fill their prescriptions there to do it during the bankruptcy, after the bankruptcy, and they managed to get through the bankruptcy without losing a single retail customer … which is very important for a Rite Aid , a Walgreens or a CVS, when people could fill their prescriptions at the drugstore across the street or even online.”

Walmart

When it comes to companies that haven’t faced bankruptcy concerns this year, Walmart is at the top. In its latest third quarter earnings report, the largest retailer in the United States raised its outlook for the year after benefiting from increased spending on non-essential items and an increase in pickup and delivery orders.

“With Walmart, they’ve found a way to appeal to cash-strapped consumers on a tight budget in a way that other retailers just don’t,” Foss noted.

Amazon

Amazon has also emerged as a major competitor, eliminating traditional brick-and-mortar shopping methods. Earlier this year, Amazon’s stock hit a record high and its market capitalization surpassed $2 billion.

“We’re constantly hearing from brick-and-mortar retailers that have filed for bankruptcy that customers (are) buying online from Amazon. Chain retailers have a very, very hard time competing with them.”

losers

Shops only 99 cents

The biggest loser in 2024, according to Debtwire, is 99 Cents Only Stores, which filed for bankruptcy in April to end operations, close its doors for good and sell its assets to other discount retailers.

“If consumers feel sticker shock, why aren’t these companies more successful?” Foss raised. “These are companies, many of them with massive amounts of debt. 99 Cents Only Stores reported that it had between $1 billion and $10 billion in liabilities when it filed for bankruptcy … we’re just seeing consumers change how and where they spend. you know, what little discretionary spending they have.”

That loss also translates into dollar store discount names: “Some of them picked up the assets of 99 Cents Only Stores, some of their stores that are under a new umbrella… It’s a business model difficult for everyone to understand. And I think we will continue to face pressure in the new year.”

Big Lots

Carle Place, NY: The Big Lots store in Carle Place, New York on July 23, 2024. (Getty Images)

In recent days, Big Lots began to hold their “going out of business” sales. Big Lots filed for Chapter 11 bankruptcy in early September to help facilitate the sale of “substantially all” of its assets to its “stalking horse bidder” Nexus Capital Management.

Foss noted that Big Lots had a similar amount of debt liabilities at only 99-cent stores.

Party City

Party City filed for Chapter 11 bankruptcy just days before the 2024 Christmas holiday. (iStock)

While Foss initially thought Party City might see 2025, the retailer announced just before Christmas which would close all stores after 40 years of activity.

Party City corporate employees lost their jobs after Friday, according to CNN. The company anticipates widespread store closings in early February.

“With a party city, it’s particularly interesting because they just came out of bankruptcy last year. This would be their second Chapter 11, what we like to call Chapter 22, in less than two years.”

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The container store

Facade of the Container Store retail store on Santana Row in Silicon Valley, San Jose, California, January 3, 2020. (Getty Images)

On Monday morning, The Container Store filed for Chapter 11 bankruptcy shortly after the New York Stock Exchange decided to delist the retailer. Foss claimed they had liquidity and profitability problems.

“This is really a key time for struggling retailers. The holiday shopping season is very important for retail chains and can be a ‘make it or break it’ moment for a struggling company “, he said.

“I think there was talk with The Container Store about having an infusion of capital from Beyond Inc., which is the company that used to be Overstock… Consolidation in the competition space I think could be good . You know, the problem is that there’s not a lot of money from third parties or retailers that want to buy these troubled chains.”

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Eric Revell, Greg Wehner and Aislinn Murphy of FOX Business contributed to this report.