Retail Apocalypse: Rate Of Store Closures Accelerates After Already Hitting Record Highs


The retail apocalypse is upon us and after hitting all-time record high levels of store closures, the pace has accelerated. Hundreds of thousands of workers have already lost their jobs in the past decade thanks to store closures, and that number is going to skyrocket in the very near future.

According to a report by Business Insider, more than 6,100 stores have been slated for closure so far in 2019, already exceeding last year’s total number of closures.

The states hit hardest by retail job losses or layoffs over the last decade are West Virginia, Vermont, Rhode Island, Ohio, Connecticut, and Maryland.

Trending: NYT, WaPo: Mass Immigration, Demographic Changes Fueled Virginia’s Democrat Wins

Not only does there appear to be no end in sight for this epidemic accurately dubbed the “retail apocalypse,” store closures are expected to pick up the pace as we inch toward 2020.

take our poll - story continues below

Would election by popular vote be better than the electoral college?

  • Would election by popular vote be better than the electoral college?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Freedom Outpost updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Retailers are expected to close roughly 9,000 stores this year, followed by another 12,000 stores in 2020, according to estimates from Cushman & Wakefield.

Record-high store closuresbankruptcies, and liquidations have occurred due to these establishments’ inability to manage their debt.

Most of these stores bit off more than they could chew are now facing the consequences of their actions.

On the other end of the spectrum, Washington, Utah, and Washington, DC have all seen retail job growth of at least 20% in the same time period.

But while some states have seen some growth, nationwide, closures are outpacing openings.

More than 8,000 stores closed in the US in 2017, setting an all-time record for the number of stores that have closed in a single year, according to the real-estate-services firm Cushman & Wakefield. Another US record was smashed in 2018, as the amount of retail square footage that went dark soared to new heights, according to CoStar Group, another commercial-real-estate firm.

2019 is now on pace to set new records. –Business Insider

Although it seems like it cannot get much worse, the retail apocalypse was bound to happen.

YouTube channel Money GPS has repeatedly reported on the problems in the retail sector of the United States economy.

The absolute fact is that e-commerce and online retail is only minimally to blame for these stores’ demise. Money GPS said: “E-commerce accounts for approximately 10% of retail sales in the U.S. today. That’s hardly a large percentage of the total.”

Massive unpayable levels of debt and therefore, bankruptcy are taking a toll on these American retailers.

Article posted with permission from Mac Slavo

Don't forget to Like Freedom Outpost on Facebook and Twitter, and follow our friends at RepublicanLegion.com.

Previous Is The State Of Florida Going To Quietly Stand By As This Woman's Life Hangs In The Balance As They Did With Terri Schiavo?
Next The Movie Unplanned Gives Insight to Dehumanizing Acts Like Sri Lanka

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon to the right of the comment, and report it as spam. Thank you for partnering with us to maintain fruitful conversation.