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The U.S. retail industry will see as many as 20,000 to 25,000 store closures this year.
That’s according to a new report from research and advisory firm Coresight Research, which updated its previous estimate of 15,000 stores “in light of the escalating impact of the coronavirus pandemic.”
That’s also more than double the record of 9,800 store closures in 2019.
Perhaps not surprisingly, it is the retailers of discretionary goods like apparel and department stores that will lead these closures.
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