Retail

Coresight predicts record 25,000 retail stores will close in 2020

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A store stands closed near Wall Street as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City.

Spencer Platt | Getty Images

One result of the coronavirus pandemic could be as many as 25,000 store closures announced by retailers this year, as the crisis takes a toll on many businesses, and already has pushed some over the brink and into bankruptcy. 

U.S. retailers could announce between 20,000 and 25,000 closures in 2020, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls. That would also mark a record — which was previously the more than 9,300 locations in 2019. 

Coresight was earlier…



Source cnbc.com

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