Retail Apocalypse Accelerates – 8,700 Stores Closing, Number Set To Rise

By Tyler Durden

The unprecedented implosion of U.S. commercial real estate during the coronavirus pandemic is likely to get worse as newly delinquent CMBS loans are surging as the list of retail store closures continues to rise.

Trepp’s June CMBS remittance report showed CMBS delinquencies hit a high of 10.32%, not seen since 2012. It was noted that that retail CRE loans were in rough shape.

Many retail shops are heavily indebted, some have already declared bankruptcy, while others are quickly shrinking their operating size by reducing store footprint to rein in cost as the virus-induced recession, blended with a plunge in consumption, along with a shift to online, is resulting in a rapid acceleration of the retail apocalypse.

Coresight Research’s latest forecast has upwards of 25,000 retail stores that could close by year end.

Forbes has released an updated list of confirmed store closures. So far, it looks like 8,708 store units have or will shutter operations this year, and could quickly surpass 2019 totals of 9,302, in a matter of months.

See: 177 Different Ways to Generate Extra Income

Forbes’ Store Closure List In 2020

Chuck E Cheese: 54 U.S. stores (bankruptcy)

Destination Maternity: 90 stores (bankruptcy)

GNC: 1,200 stores (bankruptcy)

J. Crew: 54 stores (bankruptcy)

JCPenney JCP: 154 stores (bankruptcy)

K-Mart: 45 stores (bankruptcy)

Modell’s Sporting Goods: 153 stores (bankruptcy)

Neiman Marcus (Last Call): 20 stores (bankruptcy)

Papyrus: 254 stores (bankruptcy)

Pier 1 Imports PIR: 936 stores (bankruptcy)

Sears: 51 stores (bankruptcy)

Signet Jewelers SIG: 232 stores

Stage Stores: 738 stores (liquidating)

Tuesday Morning: 230 stores (bankruptcy)

***

AC Moore: 145 stores

Art Van Furniture: 190 stores

AT&T: 250 stores

Bath & Body Works: 50 stores                                                        

Bed Bath & Beyond: 44 stores

Bloomingdale’s: 1 store

Bose: 11 stores

Chico: 100 stores (estimated)                                      

Children’s Place: 200 stores

Christopher Banks: 30-40 stores                                                                  

CVS Pharmacy: 22 stores

Earth Fare: 50 stores                                       

Express: 66 stories

Forever 21: 15 stores (estimated)

GameStop GME: 320 stores                                                  

Gap: 230 stores                                    

Guess: 100 stores

Hallmark: 16 stores                  

Lord & Taylor: 30 or 40 stores                                

Lowe’s Canada: 34 stores                                        

Lucky Market: 32 stores

Macy’s M: 125 stores (over 3 years)

Microsoft: 77 stores

New York & Co: 27 stores

Nordstrom: 16 stores                                         

Office Depot: 90 stores

Olympia Sports: 76 stores                                        

Party City: 21 stores

Starbucks SBUX: 400 stores (over 18 months)

Victoria’s Secret: 250 stores

Walgreen: 100 stores (estimated)                                                       

Walmart: 2 stores

Wilson Leather & G.H. Bass: 199 stores

Zara: 1,000 stores worldwide (over 2 years)

With thousands of retail stores closing and the economy contracting, the next conversation Wall Street will have is about deep economic scarring and permanent job loss.

Already, 3 million jobs have been eliminated from the economy, some of which have come from the closure of retail stores. The bad news about permanent job loss is that it’s a consumption killer, resulting in less spending at retailers, suggesting an even greater amount of store closures beyond anyone’s wild guess could be seen over the next 12-24 months.

This all suggests there’s no V-shaped recovery this year – one might want to hunker down for a prolonged downturn, as explained here.

Source: Zerohedge

Become a Patron!

Subscribe to Activist Post for truth, peace, and freedom news. Send resources to the front lines of peace and freedom HERE! Follow us on SoMee, HIVE, Parler, Flote, Minds, and Twitter.

Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.


Activist Post Daily Newsletter

Subscription is FREE and CONFIDENTIAL
Free Report: How To Survive The Job Automation Apocalypse with subscription

1 Comment on "Retail Apocalypse Accelerates – 8,700 Stores Closing, Number Set To Rise"

  1. and all THANKS TO PHARMA DRUG CARTEL, i.e. Fauci, FERGUSON, all the scientists who propagate FAKE SCIENCE

Leave a comment