It should come as no surprise that retailers are going out of business.
So far in 2017 there have been 14 retailers who have folded. There were 18 such closures in all of 2016, so we are far ahead of last year’s pace.
Why is this happened? Online shopping.
“The shift to online shopping has left a lot of financial distress in its wake,” Jim Elder, director of risk services at S&P, wrote in a research note. “The results from the first quarter do not suggest that a quick recovery is on the horizon.”
The Wall Street Journal amassed a list of then ten more retailers which they believe are most likely going to go under this year. Sears heads up the list.
Image credit: Mike Kalasnik