It’s here. Mall rats are scattering in a panic. It’s the Retail Apocalypse Now!
WASHINGTON – The long feared “retail apocalypse” may be hitting with little or no fanfare if a growing list of store-closing plans by major chains is any indication.
Major U.S. retailers have announced the closing of more than 6,000 stores from coast to coast. The list includes only those retailers that have announced plans to close more than 10 outlets this year and next.
For example, 1,784 Radio Shack stores are vanishing, 400 stores in the Office Depot/Office Max chain by 2016, and 340 Dollar Tree/Family Dollar stores.
The growing list of stores getting shuttered coincides with the decline in discretionary consumer spending over the past six months.
“Expect to see more storefronts closed at malls across the country,” one retail watcher told WND. “It’s getting ugly out there.