As a “retail apocalypse” sweeps the United States, tens of thousands of stores are expected to shut down. This comes as we recently learned that all the Bed Bath and Beyond stores, along with Tuesday Morning stores, will be closing this year. This is in addition to the 2,000 that have already closed this year.
Currently, there are approximately 940,000 brick-and-mortar stores in the United States. Wall Street analysts conservatively predict that 50,000 stores will permanently close doors within the next five years. However, if the economy continues heading towards a prolonged recession, the number could reach upwards of 90,000 stores by 2027.
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