Nearly 10,000 Stores Could Close This Year As Retail ‘Bubble’ Bursts

Apr 22, 2017
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As I predicted months ago we are witnessing a monumental downturn in the retail sector. According to this Daily Caller report nearly 10,000 may close this year.

Brick-and-mortar shops and retail chains are closing at a record rate, and there’s no sign the decline will stop, The Wall Street Journal reports.

In the first four months of 2017, retailers have announced a total of 2,880 store closures, and some financial services firm Credit Suisse predicts that around 8,600 stores will close this year. That’s more than closed during the financial crisis in 2008, and twice the number that closed in 2016.

Several smaller stores will shutter all or most of their mall and free standing stores this year. Clothing chain Rue21 announced April 17 that it will close 400 of its 1,100 stores nationwide. Bebe, which sells “unique, sophisticated and timelessly sexy” women’s clothing, will close all of its 168 physical stores nationwide by the end of May, the company announced Friday.

Smaller retail chains are closing the most physical locations, but retail giants are also scaling back. JC Penney will close 128 of its 1,000 locations, Sears plans to close 41 of 695 stores, and Kmart plans to shutter 109 of 735 stores, WSJ reports.

THOMASDISHAW.COM

THOMASDISHAW.COM

Born and raised in the backwoods of Michigan, Thomas Dishaw is an independent writer and entrepreneur. His work has been criticized in Slate, Right Wing Watch, Gawker, Daily Mail, and NY Daily News. Thomas currently writes for NaturalNews.com and resides in Delaware with his wife and Shih Tzu, where they enjoy healthy eating, politics, MSU Spartans and conservative values.
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  • renda blue

    GO BLUE

  • UnderTheBedMonster

    A lot of folks will be shopping online only in some areas. I shop online for most of what I need as I refuse to shop at Walmart and refuse to travel 50 miles one way to shop at other stores. What I save in gas I can use that money to pay for shipping costs. For example I bought a lawnmower from Sears but had it delivered vs drive and go get it and having to figure out how to transport it home in my tiny Civic. I got free shipping as it turned out last year so that was a win win for me. I do have a Lowe’s in my town but I only buy plants and small home project things but nothing major. Time to check out stuff online first THEN consider where to buy your next purchase. I always go online first to see where it is cheaper and better shipping methods.

    • Scotster

      You bought a lawn mower from Sears? Good luck with that warranty then, they appear to be going out of business this year. http://money.cnn.com/2017/03/22/news/companies/sears-kmart-future/

      • UnderTheBedMonster

        Yes I know that when i bought the mower but the warranty is by a different company than Sears. Already been there done that.

  • Marschall Clark

    With doctors loading up all patients with drug prescriptions and charging 1000 dollars for office visits, who has money to shop?