BUFFALO, N.Y. — A new national report predicts that a record of up to 25,000 retailers could close this year across the U.S. as Covid-19 continues to rattle the market.
The grim prediction by Coresight Research showed a coming tidal wave of retail failures compared to last year when 9,821 retailers went under.
Much of the hit is expected in malls, where about 60 percent of the closings will be centered, Coresight officials said. Chains like Pier 1, Tuesday Morning and J. C. Penney recently announced they were filing for bankruptcy and closing stores, which "spells bad news for malls."
For more on this story, go to Buffalo Business First's website.