Analysis of Business Closures in Lubbock for 2024: A Comparison to 2023

The business landscape in Lubbock is experiencing significant changes in 2024, with a noticeable increase in closures compared to the previous year. As of June, the Hub City has bid farewell to 18 businesses, sparking concerns among residents about the state of the local economy.

Among the closures, only five were non-restaurant establishments, including well-known names like Rue 21 and Shearer’s Foods. The closure of Shearer’s Foods, in particular, resulted in the termination of 176 jobs and sent shockwaves through the community.

On the restaurant side, a total of 13 eateries and food trucks shuttered their doors in the first half of the year. From the iconic Tom & Bingo’s BBQ to popular spots like Senor Chubby’s Mexican Bar & Grill and Evie Mae’s BBQ, the closures have left a void in Lubbock’s dining scene.

Despite the uptick in closures, there is also a silver lining with a slight increase in new businesses opening up in 2024 compared to the previous year. Food and drink establishments continue to dominate the openings, with a diverse range of cuisines and concepts entering the market.

As the year progresses, it will be interesting to see how the business landscape in Lubbock evolves and whether the trend of closures will continue or if new opportunities will emerge to fill the gaps left behind. Stay tuned for more updates on the changing face of Lubbock’s business scene in 2024.