Report: ‘No Light At The End Of The Tunnel’ As A Wave Of Retail Stores Close

Thursday, February 14, 2019
By Paul Martin

Mac Slavo
February 14th, 2019
SHTFplan.com

Another economic red flag has appeared and its the closure of retail stores. According to a new report detailing the precarious situation of the current economy, there is “no light at the end of the tunnel” as the closure of brick and mortar stores will continue.

Coresight Research released an outlook of 2019 store closures Wednesday, saying, there’s “no light at the end of the tunnel,” according to several reports, including one from Yahoo News. According to the global market research firm’s report, a mere six weeks into 2019, United States retailers have announced 2,187 closings of physical stores. That’s up 23 percent compared to last year. Those closings include 749 Gymboree stores, 251 Shopko store, and 94 Charlotte Russe locations.

This may not seem like such a big deal especially if you don’t often shop, but it’s a red flag for the overall economy. Either customers/consumers now have less money and aren’t willing to borrow (use credit cards) to spend at stores anymore, or they are already maxed out and cannot spend. Another issue could be the overbearing regulations and burdensome theft (taxation) levied on business. It could be a combination of all of those as well, making the cost of keeping a brick and mortar store open no longer worth it.

But reports and the media blame the growth of online sales, rising interest rates, and declining sales. Bankruptcies also are continuing at a rapid pace “with the number of filings in the first six weeks of 2019 already at one-third of last year’s total,” the report states. That means companies have taken on more debt than they can handle, and much like individuals, when that happens, it is likely the beginning of some very rough times ahead. And debt is a major concern right now for most economists. Consumer debt, student loan debt, auto debt, and the national debt has all reached historic records – and that isn’t a positive sign for the economy.

The Rest…HERE

One Response to “Report: ‘No Light At The End Of The Tunnel’ As A Wave Of Retail Stores Close”

  1. Strayhorse

    Thanks to Amazon and other on-line consumer purchasing vendors who pay NO TAXES.

    #3894370

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