The accounting and consulting firm BDO (Chicago) announced that more than 7000 stores have closed in 2019 alone, according to Retail Dive. While this surpasses the full-year totals of all past years, BDO notes that retail liquidations have contributed to a sizable chunk of those closures.
The period of consolidation, known by many as the “retail apocalypse” is set to last another 18-24 months, according to investment bank B. Riley FBR (Arlington, Va.) and Retail Dive.
VMSD Staff
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