Almost 9000 Retail Stores Will Close in 2017!!!
BY VOICE OF REASON ·
THELASTGREATSTAND.COM
SATURDAY, JUNE 17TH, 2017
The ‘retail apocalypse’ that has hit the American market this year shows no signs of stopping. More than 300 retailers have already filed for bankruptcy, and Credit Suisse estimates a whopping 8,640 store closures by the end of this year! To give further perspective on how bad it has gotten, credit rating agency Moody’s has rated over 20 other retail companies as ‘subject to very high credit risk’. These are all American household brands: J. Crew, K-Mart, Neiman Marcus, and Sears, just to name a few.
In the following video, Right Wing News examines the impact that the ongoing retail apocalypse will have on the already squeezed American middle class. On the macro level, using retail as a gauge for how the economy is doing in general, things are looking bleak. And on the micro level, these closures mean that underserved communities will have to drive further for everything, creating an invisible ‘tax’ on every purchase in terms of travel time and expenses. Can the American middle class continue to prosper?
