Retailers continue to close brick and mortar stores this year. In fact, if you think even more stores are closing than last year, you would be right. There have been more announced store closings in the first half of the year than closings in all of 2018. Retailers have announced 6,986 store closures and 2,985 store openings as of June 21 which compares to 5,864 closures and 3,251 openings for the full year of 2018.
Companies like Gymboree, Dressbarn and Lifeway Christian Resources will close or have closed all stores. Payless closed all of its stores in North America. Charlotte Russe closed all of its stores. Although its new owner is planning to reopen about 100 stores. Hundreds of Things Remembered stores also closed, although a new owner will keep open 176 stores. And large retailers like Kmart, Sears, J.C. Penney and Macy’s continue to close stores each year.
The closings of these national retailers have been felt at several midstate shopping centers. The “retail apocalypse” has been going on for several years and unfortunately it won’t stop in 2019 as thousands of stores are expected to close.
