Some unfortunate news to report for the retail industry as between 20,000 and 25,000 US stores could close permanently later this year as retailers are going out of business or filing for Chapter 11 bankrupty protection.
Last year, nearly ten thousand traditional brick and mortar stores closed down and the situation has not improved this year. According to a report from the retail and technology firm Coresight Research.
“The coronavirus outbreak could accelerate a correction in mall space that already looks overdue,” said Coresight CEO Deborah Weinswig.
