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9 Retailers That Are Closing Stores In January 2021
01/28/21 AT 8:24 AM
The coronavirus pandemic continues to negatively impact the retail sector, with several companies announcing in January that they were closing stores as foot traffic waned and sales declined.
The consumer shift to online shopping during stay-at-home orders only further compounded the financial pressure these retailers were under, making it necessary to shutter locations to stay afloat or, in some cases, file for bankruptcy protection.
According to a report from Coresight Research (via CNBC), there could be up to 10,000 store closures in the U.S. this year, setting a new record amid the pandemic as retailers realign their brick-and-mortar portfolios to remain open for business.
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