every week there are new store closings...are we going into another depression?

It is due to severe mismanagement. They unnecessarily renovated and built up big fancy stores. They treat their employees like dirt and pay just above minimum wage. You can never find anyone when you need help. They went to that percent off sale system of pricing, modeled after hobby lobby where the regular prices are crazy high just so they can mark it on sale. When people can buy they same thing for a fraction of the price with the convenience of online shopping it would be crazy to wait around for a sale to cycle.

Isn't it because the minimum wage is so high? Greedy business owners won't take less profit to pay their employees a livable wage? I used to have 4 choices for groceries within walking didstance. I now have one.

I believe the issue is that you can buy all the items online and have them delivered to you at home cheaper than going to the stores that have to pay for employees and for the building and grounds it set on as well as maintenance of said building and grounds.

Perhaps, but the pandemic is long over and the younger generations don't seem to be much into crafts or making their own clothing.

i think it might partly be due to the rise of online shopping

It is due to several factors gross mismanagement online shopping and inflation going Beyond wages people just are not buying frivolous things they are starting to count their pennies now especially with the new Administration touting about how they want to cut everything

The price of rent and products and employees and electric have all gone up and people buy more things online.. so

Have you heard that inflation has risen again?

I am sorry to hear that ☹

No we are not going into another depression! This is just another example of shifting customer preferences.