(OPINION) Retail stores are being shut down at a staggering rate all over the country. If we stay on the pace that we are on, the total number of stores closed in 2024 will be nearly 40 percent higher than the total number of stores closed in 2023.
That is what you call a crisis! Meanwhile, banks are shuttering hundreds of branches from coast to coast, and a “restaurant apocalypse” is sweeping across the nation.
Everywhere around us, “space available” signs are going up on buildings that were once considered to be prime commercial real estate. If someone tries to convince you that the U.S. economy is in good shape, just show them this article and ask them why so many once prosperous businesses are closing. Needless to say, they will not be able to win the argument after that.
According to the Daily Mail, nearly 2,600 store closings were announced during the first four months of 2024… US retailers have announced the closure of almost 2,600 stores in 2024 – just four months into the year.
Big names including Macy’s, Walmart, Walgreens, Foot Locker and 7-Eleven have all said they are closing shops. But discount stores like Family Dollar and bankrupt 99 Cents Only have been worst hit, as have drugstores like CVS and Rite Aid.
If the U.S. economy is heading in the right direction, why are many of the largest retail chains in the U.S. shutting down stores? That wouldn’t make any sense at all.
If this pace remains constant throughout the rest of this year, we would hit a grand total of approximately 7,800 store closing announcements by the end of 2024…
If the closures were to continue at the same rate for the rest of the year they would total 7,800 in 2024 – almost 40 percent more than the total in 2023.
When the number of retail stores shutting down goes up by 40 percent in a single year, that is a sign that your economy is really “booming”, eh?
Sadly, we are losing more stores with each passing day. On Thursday, we learned that a major convenience store chain in Wisconsin has decided to close down all of their locations…
Wisconsin convenience store and gas station chain The Store is being forced to close all of its 25 locations. The Store, established in 1976, will shutter its businesses at the end of July. It also has locations in Michigan.
In some cases, stores are being closed down due to rapidly slowing economic conditions. But in other cases, stores are being permanently shuttered due to the unprecedented wave of retail theft that never seems to end.
Earlier this week, I was intrigued by an article that was cleverly titled “Lego thefts across Southern California leave police trying to piece together clues”…
Believe it or not, the Lego sets and figurines collecting dust in your childhood bedroom could fetch a pretty penny. So pretty, in fact, that two suspects have allegedly stolen more than $100,000 in Lego merchandise from six Bricks & Minifigs stores across Southern California. (READ MORE)
