News and Events
Now What?
A retailer shutting a store or declaring bankruptcy is just the beginning of a process.
Sep 2, 2008 Retail Traffic Kerri Linden
The headlines have been full of companies making announcements about store closings. A July report from ICSC projected that nearly 144,000 stores (about 36,000 per quarter) will close in 2008, up 7 percent from 2007, and the largest increase in at least 14 years. Retailers like Wilsons Leather, Geoffrey Beene outlets, Charming Shoppes stores, Pacific Sunwear, Ann Taylor and Talbot's are all among those slated for increased store closures. Linens 'n Things is in the process of shutting 120 stores and disposing of its leases and Starbucks is in the midst of closing 600 locations in the U.S. The list goes on.