What to expect in the near future
Sadly, the news could not be worse. It is estimated that this year we will lose between 200,000 and 300,000 stores. As the stores close many malls will follow. This will cause massive unemployment and crush any hope of a recovery. If you think things are bad now; well, they will get a lot worse.
The situation is dire and our current financial tsunami is sinking many small mom and pop shop type of stores, but this is just the beginning. Large big box stores will also begin to fail as the economic crisis blossoms into a collapsar catastrophe. I proclaim 2009 as the year of the ghost mall. Sadly, sears and its dying department store is the lone remaining anchor store for many malls; with its out of date decor sears, is the poster child for failure.
Much as I predicted, the year 2009 is bringing with it a tidal wave of retail bankruptcies. The news of ShortCircuit City going belly up and closing every single one of its many stores should have shocked no one. This dinosaur should have become extinct long ago. Trust me, many more will follow as our severe recession goes into deep depression.
The situation is dire and our current financial tsunami is sinking many small mom and pop shop type of stores, but this is just the beginning. Large big box stores will also begin to fail as the economic crisis blossoms into a collapsar catastrophe. I proclaim 2009 as the year of the ghost mall. Sadly, sears and its dying department store is the lone remaining anchor store for many malls; with its out of date decor sears, is the poster child for failure.
Much as I predicted, the year 2009 is bringing with it a tidal wave of retail bankruptcies. The news of ShortCircuit City going belly up and closing every single one of its many stores should have shocked no one. This dinosaur should have become extinct long ago. Trust me, many more will follow as our severe recession goes into deep depression.