Another wave of retail store closures coming. ‘no light at the end of the tunnel’

by MR Magazine Staff

Another wave of store closures is expected to hit shopping centers and malls this year with “no light at the end of the tunnel,” according to a new research report. Retailers have already announced 2,187 new store closures since Jan. 1, including Gymboree, J.C. Penney, Charlotte Russe and Ann Taylor parent company Ascena Retail, according to Coresight Research. That’s up 23 percent from the number of announcements documented at the same time last year, the market research group said. And there’s “potentially many more on the way due to companies currently in the bankruptcy process and more on the horizon.” Read more at CNBC.