NEW MEXICO - The "retail winter" has arrived in the Land of Enchantment. While national headlines focus on big-box bankruptcies, New Mexico is facing a unique and difficult set of closures in February 2026. The impact is hitting both the major metro hubs of Albuquerque and the rural communities that rely on discount general stores for their daily necessities.
Here are the four major retail chains shrinking their New Mexico footprint in February.
1. Big Lots
Albuquerque loses key discount destinations.
Following its bankruptcy restructuring, Big Lots is continuing to shed locations across the Southwest. New Mexico is taking a direct hit this month, with confirmed closures in the State largest city.
- Locations to Watch: The wind-down includes the store at 465 Coors Blvd NW and the location at 9500 Montgomery Boulevard NE in Albuquerque.
- The Vibe: These stores are currently in the final stages of liquidation. Shoppers can expect "Everything Must Go" sales to dominate February as the retailer attempts to vacate these large-format boxes, leaving significant vacancies in their respective shopping centers.
2. Walgreens
A pharmacy retreat in the Metro area.
Walgreens is executing a massive plan to close roughly 1,200 stores nationwide to stabilize its finances, and New Mexico is seeing a cluster of these cuts this winter. The company is targeting locations that are not profitable enough to sustain rising operational costs.
- Affected Communities: Confirmed closures have targeted locations in Albuquerque and Los Lunas.
- The Reality: For residents of Los Lunas, the loss of a major chain pharmacy adds friction to healthcare access, forcing prescriptions to be transferred to competitors or consolidated into remaining stores, which are likely to see longer wait times.
3. Advance Auto Parts
The "Fleet Optimization" hits the desert.
Advance Auto Parts is pumping the brakes harder than almost any other retailer this year. The company has announced a restructuring plan to shutter over 500 corporate locations nationwide, and New Mexico's automotive retail landscape is seeing a quiet consolidation.
- The Strategy: The company is pivoting away from the "DIY" retail model to focus on its "Pro" business (selling directly to mechanics).
- The Impact: This means smaller, redundant stores in the Albuquerque and Rio Rancho areas are likely to see closure notices. The goal is to push customers toward larger "Hub" stores, reducing the number of convenient neighborhood stops for quick repairs.
4. Family Dollar
Rural hubs lose a general store.
Parent company Dollar Tree is in the middle of closing nearly 1,000 Family Dollar stores nationwide. In New Mexico, where Family Dollar often functions as the only grocery or general store in a 20-mile radius, these exits are deeply felt.
- The Trend: As leases expire in early 2026, underperforming locations in rural counties are being shuttered.
- The Impact: This is widening "retail deserts" in the northern and southern parts of the state. For many small towns, the closure of a Family Dollar forces residents to drive significantly further to Walmart or regional grocers for basic household necessities.
February 2026 is a month of significant contraction for New Mexico's retail sector. The exit of Big Lots from key Albuquerque corridors removes a primary destination for affordable home goods, while Walgreens closures in Los Lunas and the metro area complicate healthcare access for locals. Meanwhile, the strategic rightsizing of Advance Auto Parts and Family Dollar's ongoing retreat from rural communities highlight a broader trend in which national chains are consolidating into profitable hubs, leaving smaller neighborhoods and towns with fewer essential services.