A new analysis from CoreSight Research warns that nearly 3,200 stores are slated for closure across America this year, this representing a 24 percent increase in store closures compared to 2023.
Petty "Retail shrink" has morphed into "Organized retail crime," the CoreSight Research report explains about just how bad thing have gotten, especially since the Wuhan coronavirus "Pandemic."
About 30 retailers account for most of the 3,200 U.S. stores being closed this year.
Pittsburgh-based teen apparel retail chain Rue21 also recently filed for bankruptcy, announcing in the process that it will close all 540 of its stores in the coming days.
Rue21 faces $200 million worth of debt as its lays off all 4,900 company employees because of "Under-performing retail locations ... inflation and macroeconomic headwinds," according to CNN. 99 Cents Only, a California-based discount retail chain, also filed for bankruptcy in April because "The last several years have presented significant and lasting challenges in the retail environment," to quote an ominous report from the Los Angeles Times.
"Last year, retail stores, pharmaceutical and fast-food chains continued a trend of previous years: declaring bankruptcy and closing their doors or shutting down some locations to cut costs, citing inflation, higher costs and profit losses," reported Just the News about the ongoing retail apocalypse sweeping America.
https://www.naturalnews.com/2024-06-21-biden-economy-collapsing-bankruptcies-runaway-inflation.html
No comments:
Post a Comment