Retail News

Coronavirus could bring a massive spike in store closures

CNBC 03/16/2020

A record number of retail stores closed their doors in 2019. That number could be broken this year as struggling retailers forced to temporarily close stores due to the novel coronavirus outbreak are no longer able to keep them open once the current emergency passes. Deborah Weinswig, CEO of Coresight Research, told CNBC that store closures are currently on a pace to “double what we saw last year” and that “if [COVID-19] stays longer, it will be greater.”

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