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Retail Apocalypse: Rate Of Store Closures Accelerates After Already Hitting RECORD HIGHS

Mac Slavo
April 25th, 2019
SHTFplan.com
Comments (36) Read by 3,849 people

The retail apocalypse is upon us and after hitting all-time record high levels of store closures, the pace has accelerated. Hundreds of thousands of workers have already lost their jobs in the past decade thanks to store closures, and that number is going to skyrocket in the very near future.

According to a report by Business Insider, more than 6,100 stores have been slated for closure so far in 2019, already exceeding last year’s total number of closures. The states hit hardest by retail job losses or layoffs over the last decade are West Virginia, Vermont, Rhode Island, Ohio, Connecticut, and Maryland.

Not only does there appear to be no end in sight for this epidemic accurately dubbed the “retail apocalypse,” store closures are expected to pick up the pace as we inch toward 2020. Retailers are expected to close roughly 9,000 stores this year, followed by another 12,000 stores in 2020, according to estimates from Cushman & Wakefield.

Record-high store closuresbankruptcies, and liquidations have occurred due to these establishments’ inability to manage their debt.  Most of these stores bit off more than they could chew are now facing the consequences of their actions.

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On the other end of the spectrum, Washington, Utah, and Washington, DC have all seen retail job growth of at least 20% in the same time period. But while some states have seen some growth, nationwide, closures are outpacing openings.

More than 8,000 stores closed in the US in 2017, setting an all-time record for the number of stores that have closed in a single year, according to the real-estate-services firm Cushman & Wakefield. Another US record was smashed in 2018, as the amount of retail square footage that went dark soared to new heights, according to CoStar Group, another commercial-real-estate firm.

2019 is now on pace to set new records. –Business Insider

Although it seems like it cannot get much worse, the retail apocalypse was bound to happen.  YouTube channel Money GPS has repeatedly reported on the problems in the retail sector of the United States economy.

The absolute fact is that e-commerce and online retail is only minimally to blame for these stores’ demise. Money GPS said: “E-commerce accounts for approximately 10% of retail sales in the U.S. today. That’s hardly a large percentage of the total.”  Massive unpayable levels of debt and therefore, bankruptcy are taking a toll on these American retailers.

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Author: Mac Slavo
Views: Read by 3,849 people
Date: April 25th, 2019
Website: www.SHTFplan.com

Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

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36 Comments...

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  1. And what will all these cashiers, salesman, clerks, deliverymen, stockers, managers, etc….do for a job.? Tax revenues down and more people on entitlements to accelerate the collapse.!!!

  2. Yohan Smythe says:

    NOT the resurt of online sales ?

    oh and I was going to blame Al Gore for inventing the Internet, thus enabling online sales.

    • Norrak says:

      A female judge and her clerk in Mass. have been indicted for helping an illegal alien criminal escape from ICE. Indicted for obstruction of justice. An actual physical effort made to help illegal alien criminal escape from ICE. I believe her name is Shelly Joseph.

    • durangokidd says:

      “Record-high store closures, bankruptcies, and liquidations have occurred due to these establishments’ inability to manage their debt.”

      Happens at the end of every business cycle. Not quite as bad as it seems or is reported to be. Primarily, this represents a RESTRUCTURING of the retail experience to follow the Amazon model which has made Bezos the richest man in the world by far. I pointed out this change in the way retail business will be conducted months ago. Yeah it’s in the archives, so it’s really not an APOCALAPSE, more of a revolution than anything else as every retailer wants to increase efficency and magnify profits as Amazon did. Job losses will naturally follow as retail sales clerks lose their jobs and ten of them are replaced by a robot at a warehouse fulfilment center.

      This is also ocurring at the end of the business cycle so you are going to have excess inventory,liquidations, and more bankcruptcies of small businesses; as I have also pointed out months ago, and that fact is exacerbated by the change in the business model.

      That said, Sears BK is an example of Management Kleptocracy and the systematic demolition of a once great public company and the transfer of its assets to the management/investor group headed by a Hedge Fund Manager CEO.

      Other than SEARS, nothing to see here so you can move along. 🙂

  3. The Deplorable Renegade says:

    I still go to local sources for what I need as much as possible but the number of local sources for what I need is going down. I do as little online shopping as possible. It ain’t pretty out there, that’s for sure.

    • The Ugly Truth says:

      Next time at the store try buying some brains dumba$$

      • The Deplorable Renegade says:

        Ugly Truth, uh, what is your problem today?

        • The Deplorable Renegade says:

          Ugly Truth must be a new troll.

          • buttcrackofdoom says:

            probly just an OLD troll with a new screen name/email address. i usually just ignore the ignoramouses, although it can be fun to dick with them once in a while. one HAS to wonder why they would come on here and go against pretty much everyone here…..

            • The Deplorable Renegade says:

              BCOD, you may be right. Remember when I used to challenge trolls all the time? I had a lot of fun doing that but not anymore. A lot of people have said “don’t feed the trolls” and they were right. For the most part I do ignore them now.

          • Looking at the paucity of comments (usually from the same old commentators all repeating themselves endlessly) plus the rehashed articles (the sky is falling/we’re drowning in debt/foreign diseases ad infinitum) I have a feeling that this site is heading the same way as bricks and mortar stores. No wonder trolls can’t be bothered posting here – why poke a decaying corpse?

            I pretty much give up visiting here when “Braveheart” (as he was then) bullied old HICKS off of here with his pretend hypocritical friendship and his snide remarks about HICKS several articles later.

  4. buttcrackofdoom says:

    it wouldn’t have anything to do with the massive DEBT we all owe, could it?…..or the sky high house payments/rent, now that homes have reached epic levels of valuations……naaaw, couldn’t be that….never mind…..wait…..maybe it’s because our education costs are outa’ control…..no…..no, that can’t be it. maybe it’s gubmint regulations, fees, and taxes……..noooo, that can’t be it either……oh, i just can’t see why the heck people won’t spend their money in the stores anymore……..oh, maybe healthcare is sapping………….

  5. The Deplorable Renegade says:

    BCOD, I think you had it right with the first one concerning debt. People are drowning in debt after making bad decisions. You reap what you sow.

  6. Warchild Dammit! says:

    I would say in most parts of the country too many stores.

    Kinda like have alerts pushed on ya’s when you try and post,no need for em.

    • Genius says:

      Warchild, That is definately a factor. I remember back in the late 90’s stores and strip malls etc. were going up EVERYWHERE! You couldn’t throw a dead liberal without hitting a store of some sort. It was insane and many of the stores were stupid crap with a very narrow market. Short sighted morons that are paying the price. They were the first to go in 08. I would not want to own a strip mall now.

  7. Jim in Va. says:

    Amazon is eating up the retail sector and they can’t compete. First they get a great mailing deal from the post office which in turn delivers a lot of their products on Sunday. Price and speed of delivery is killing the others. Someday someone will figure out Amazon and beat them at the same game….always happens.

  8. Anonymous says:

    They should learn to code

  9. TED N GA says:

    Look up what most of these companies have in common. They all took or were sold to PE (private equity) firms in the last 15 years or so. a.k.a I buy your retail company through leveraged debt.

  10. Bert says:

    The net result is a wash.

    Same number of dollars will be earned, obtained by entitlement, or borrowed into existence and spent, regardless of a few thousand store closings.

    The only worry is the day the GOV has to actually cut an annual budget by 100+ billion$ or the day the trucks stop rolling due to fuel depletion or due to war.

    Until then, DJIA $100k, S&P 20k, and a national debt of $70T by 2050.

    New record highs cuuuuuummming! Enjoy the prosperity.

  11. Norrak says:

    Or could it just be the economic downfall has been in the planning stage for years by TPTB, and now it’s time to execute the plan knowing no one has prepared for it.

  12. These genius CEO’s forgot economic laws, like the law of diminishing returns and economies of scale. Borrowing crazily for expansion and financed buyouts increased debt to the point they cannot even operate. Shopko in my area was actually borrowing to pay dividends (which should constitute fraud). Krispy Creme expanded a new store here and closed it within two months. The crazy idea of unlimited growth, forever doomed these companies. Cutbacks were in employees and stock, diminishing choice and customer service, while CEO’s reaped huge rewards even in total failure. These companies have written the road map for closings and bankruptcy.

    • The Deplorable Renegade says:

      Jim, in my area some moron had the bright idea over the past 5 years to build some NEW strip malls which to this day are still empty and there’s a few more still being built. One major section of my city has older shopping centers that are 70-90% empty and have been since OBAMA’S FIRST TERM IN OFFICE. That’s helluva long time for commercial space to be empty.

      • And yet I bet the Developer and supporting politicians walked away with their pockets full or borrowed money, while small investors were left holding the bankruptcy bag? Criminal prosecutions would stop much of this, but it won’t happen, these people donate big time to re-election campaigns of politicians..

  13. facile vassal says:

    what is interesting to see is all the small mom and pop stores like shoe repair or glove making or tree removal or small appliance/electronic repair places, none of the young people want to take them over because it involves actual work, mom and pop want to retire but can’t, and when they are gone all that accumulated knowledge will disappear. Also, buy books now before the frumentarii start in on the libraries, bastions of whiteness. Bush 2 tried hard to cut the funding but the social justice warriors will claim that because “some people” cannot read and comprehend, libraries are an affront to diversity.

  14. Anonymous says:

    Lara Trump received a huge backlash after she said that Angela Merkel’s policy of allowing millions of “refugees” to enter was the “downfall of Germany”.

    I spent much of my formative years with people, who left WW2 Europe. They saw America as a welfare state, so considered going back home.

    Look at images of any, one, blue, American city. Turn the calendar back, one decade at a time.

    Here, and there, the collapse of society began, when it was brown washed.

    search terms — amazon delivery driver poops in street

    Who were you literally trying to avoid, when ordering online.

  15. Hello

    Nice to see some of the old gang posting again. You all make valid points today as always.

    So, do you like my screen name?

    I thought of using something more dignified but then I thought again about “Buttcrack of doom” and reasoned that it wasn’t any more undignified than that moniker.

    I used to live in California and now I live in Texas.

    Texas is hot as hell in summer and you get bit by mosquitoes, big red ants, and chiggers. Not to be impolite, some people call them chigroes. Those chiggers are no joke. They are worse than mosquitoe bites.

    I can’t wait until it is cold as a witch’s tit again. Which is how cold it gets in winter.

    Between the chiggers and the thunderstorms, Texas has some good points. The people are friendlier. And I see more people taking personal responsibility. The first thing that surprised me was how almost everyone puts their grocery cart back in the stalls provided by the grocery stores. In California people leave their carts all over the parking lot. And after a particularly bad windstorm, all the debris is gone within days. People just get on it without being forced to do it.

    I miss California but I love Texans.

    Well fellas, nice to hear from y’all.

    .

  16. Brian says:

    If you couldn’t get a job anywhere else, Walmart was a good place to try. If you didn’t have any advanced training, retail jobs were your best bet. Buying from local retailers helped the local economy. Buying from on-line retailers means the money leaves the local economy and doesn’t get circulated.

  17. Captn.Jack says:

    Just wait ,CA.,IL.,NY.,And all the other high tax states,your closings will out pace every other state, simply because your state will run out of people with enough money to buy your products.They have all left.

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