Four Famous Stores That May Not Survive Because Of Coronavirus

They were once the giants of American retail, strong enough to survive wars, the Great Depression, the Great Recession and the rise of online shopping. But Sears, JCPenney, and others may not be able to survive the coronavirus crisis. “The retailers who were wandering around aimlessly pre-pandemic are going to be substantially less likely to muddle through than they were before,” said Mark Cohen, director of retail studies at the Columbia Business School. During the pandemic, stores have been shuttered. Retailers have furloughed hundreds of thousands of employees and are losing most of their sales. And shoppers have cut back on most purchases other than groceries and daily essentials. Depending on how long consumer demand stalls, companies may be forced to lay off workers, close stores permanently or restructure. Read more at CNN Business.