One result of the coronavirus pandemic could be as many as 25,000 store closures announced by retailers this year, as the crisis takes a toll on many businesses, and already has pushed some over the brink and into bankruptcy.
U.S. retailers could announce between 20,000 and 25,000 closures in 2020, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls. That would also mark a record — which was previously the more than 9,300 locations in 2019.
U.S. retailers could announce between 20,000 and 25,000 closures in 2020, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls. That would also mark a record — which was previously the more than 9,300 locations in 2019.
Key Points
...more- U.S. retailers could announce between 20,000 and 25,000 closures this year, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls.
- That would also mark a record for the industry.
- Coresight was previously forecasting there could be more than 15,000 store closures announced by retailers in 2020.
RSK: Some big numbers here and landlords will be scrambling to find new tenants or re purposes their properties. Values will fall even more.
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- - Volume: 8 - WEEK: 25 Date: 6/16/2020 9:23:51 AM -