Retail Store Closings Soar in 2017

 In BLOG

2017 is not shaping up to be a favorable year for the retail industry if you look at the numbers.

  • Number of store closings so far in 2017: 5,377
  • Forecast for total number of store closings this year: 8,640
  • Retailer bankruptcies filed thus far in 2017: 14 (2016 saw 18 bankruptcies total)

So, what are the experts saying? Many see the retail industry as a shrinking one, and they say the forecast will get worse before it gets better. And while total retail sales did increase 4.5 percent in April from a year ago, the growth is due to online sales, making the case for brick-and-mortar store closings.

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