Store closures are expected to hit a five-year low. But it's not all good news
CNN
Store closures in America are expected to drop to a five-year low in 2021. The reason is that the industry may have bottomed out last year, when closures were the highest on record.
The reason is that the industry, which has been hurt in recent years by a shift to online shopping, may have bottomed out last year, when closures were the highest on record. Retailers in the United States are on pace to announce around 3,700 store closures this year, the lowest annual figure since 2016, according to commercial real estate data and analytics firm CoStar Group (CSGP), which tracks retail chains' publicly announced plans. The closures are estimated to account for about 40 million square feet of space, the lowest since CoStar began tracking such data in 2008.
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