CHARLOTTE, N.C. —
Why are so many stores going bankrupt?
Let's connect the dots.
The pandemic set off a surge of store closures with dozens of retailers filing for bankruptcy. But some saw relief in the past few years, as Americans were eager to get out of pandemic lockdowns and shop again.
Now that's changing, with experts saying up to 50,000 storefronts will close over the next few years. Most of those come from clothing and accessory retailers, electronics businesses and furniture stores.
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Traditional shopping malls remain at higher risk for closures than neighborhood strip centers. That's because people favor quick trips to stores closer to where they live.
And as credit rates soar and inflation remains stubborn, shoppers have been tightening their wallets in recent months.
That leaves struggling retailers like Bed Bath & Beyond more vulnerable to slashed profits. The company plans to close all of its locations by the end of June.
MORE CONNECT THE DOTS
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