America’s stores were in rough shape even before the coronavirus hit, but the pandemic has worsened the toll on traditional retailers.
Forecasters say business will never go back to “normal,” as many shops have had an impossible time coming back from this year’s long lockdowns.
A record 9,500 stores went out of business in 2019, which seemed massive — but as many as 25,000 could shut down permanently in 2020, mostly in malls, says the an estimate from Coresight Research.
So far in 2020, more than 8,000 retail locations have gone dark for good, Coresight says.
Here are the major retailers that are permanently closing the most stores in 2020, starting with the biggest announcements. On your next stop at a going-out-of-business sale, be sure to use a cash-back card to save even more.