April 13, 2019

Store closings already exceed total for 2018

NY Times -Less than halfway through April, American retailers have announced plans this year to shut 5,994 stores, exceeding the 5,854 announced in all of 2018, according to data from Coresight Research.

Retailers in good financial shape are paring locations as their leases expire, while brands like Payless ShoeSource and Charlotte Russe are filing for bankruptcy and shutting hundreds of stores within months. Payless and Gymboree — which both filed for bankruptcy this year for a second time — account for almost half of the announced closings.

1 comment:

Strelnikov said...

Brick and mortar capitalism is in utter collapse. Putting all our eggs in one basket (the Internet) is utterly dangerous, and utterly snobby against people who are too poor to have the Internet at home, live in rural areas with no wireless, are technophobes, hate the general Internet culture, etc.