Despite the year being more than halfway over, the pace of store closures doesn’t appear to be slowing down in the retail industry. More companies piled on the bad news this week.
So far, 7,062 store closures have been announced by U.S. retailers this year, according to a tracking done by Coresight Research. And the tally could top 12,000 by the end of 2019, setting a new record, Coresight says. Last year, Coresight tracked 5,524 store closures, down more than 30% from an all-time high of 8,139 closures announced in 2017.