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Retailer Bankruptcies Reach Epic Proportions

There might be a vaccine, but COVID-19 isn’t done messing with businesses. “CoStar Group, one of the top collectors of retail real estate data, says that the 40 major retailers that filed for Chapter 11 protection and the 11,157 stores that closed this year both set new annual records,” per Chain Store Age. “The 149 million sq. ft. of GLA represented by the closures falls just short of the 155 million sq. ft. mark set in 2018 when scores of department stores shuttered, but the year isn’t over yet.”

Read the whole story at Chain Store Age »

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