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(The Economic Collapse Blog)—Why are retailers closing thousands of stores if the U.S. economy is in good shape? Of course the truth is that the U.S. economy is not in good shape at all. The cost of living crisis is absolutely crushing working families all over the nation, and U.S. consumers simply don’t have as much discretionary income as they once did.
Needless to say, our retailers are highly dependent on discretionary spending, and many of them have been reporting very disappointing sales numbers recently. Sadly, the problems that our retailers are experiencing are only going to intensify as U.S. economic activity continues to slow down.
According to CBS News, U.S. retailers have announced the closing of more than 3,000 locations in 2024…
The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis.
That’s a 24% increase from a year ago, according to a report from retail data provider CoreSight, which tracks store closures and openings across the U.S.
The closing of 3,200 stores sounds really bad, but it is important to note that the quote above is from a CBS News story that was published on May 13th.
Since that time, there have been a lot more store closing announcements. For example, last week we learned that Big Lots plans to close nearly 300 stores…
Two months after announcing plans to close about 40 stores nationwide due to financial woes, Big Lots has indicated on its website it intends to close almost 300 stores.
The discount retailer announced in June it was facing several areas of financial strain that would result in 35-40 stores closing across the country. However, an audit of the Big Lots website on Aug. 2 reveals almost 300 stores are slated to close in the United States, including 18 in New England.
Meanwhile, a home goods retailer that has been in business since 1890 is preparing to permanently shut down over 170 stores…
A home goods retailer is closing all of its more than 170 stores after filing for bankruptcy.
Conn’s HomePlus, based in The Woodlands, Texas, operates stores in 15 states, including 11 in Louisiana. The company began in 1890 in Beaumont, TX. The Conn’s HomePlus store on Derek Drive in Lake Charles is included in the closures.
Burdorf Interiors has been in business for even longer, but now they have also reached the end of the road…
Burdorf Interiors, a 157-year-old local business, is shutting down, according to Louisville Business First.
The company announced the closure in a news release Wednesday.
“It’s with a heavy heart that we are announcing the closing of Burdorf Interiors,” the release said. “The business has been open in several locations throughout Louisville since 1867.
Just think about that.
They opened their doors just after the end of the Civil War, and now it is all over.
Drug store chains have been hit particularly hard by our ongoing retail apocalypse.
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Rite Aid was once a retail powerhouse that was expanding like crazy, but now they plan to close 780 stores…
Rite Aid, which was based in East Pennsboro Township near Camp Hill for decades and is now based in Philadelphia, filed for Chapter 11 bankruptcy in October to begin restructuring to significantly reduce its debt.
Since October, the company has announced in bankruptcy filings the closing of 780 stores.
Of course Dollar Tree has Rite Aid beat.
During the course of the next few years, Dollar Tree plans to close almost 1,000 stores…
Dollar Tree on Wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings report.
The discount store chain lost $1.7 billion in the fourth quarter, down sharply from earnings of $452.2 million a year ago.
Unfortunately, this is just the beginning.
Analysts at UBS are projecting that approximately 45,000 stores will be permanently shut down in the U.S. during the years in front of us…
About 45,000 retail stores may close in the coming years as retail’s physical footprint increasingly shifts to serve as fulfillment and distribution centers, UBS analysts led by Michael Lasser said in an April 22 report.
Can you imagine what this is going to look like?
Our landscape is going to be peppered with thousands upon thousands of derelict buildings that have been boarded up to keep criminals out.
Of course some of our core urban areas already have lots and lots of empty commercial spaces that used to be thriving retail locations.
One of the primary reasons why retailers are shutting down so many locations in core urban areas is because shoplifting in this country has risen to unprecedented levels.
According to a recent survey that was conducted by LendingTree, close to a fourth of the entire population admits that they have shoplifted…
Nearly one-quarter of American adults have shoplifted, according to a new survey from LendingTree, the personal finance site. Roughly 1 in 20 consumers have shoplifted within the past year.
Shoplifting is a complicated crime. The motive can range from adolescent rebellion to adult thrill-seeking to hand-to-mouth poverty. Many of us steal things we don’t need and won’t use.
“I’ve learned that a lot of people have given shoplifting a try for lots and lots of reasons,” said Matt Schulz, chief credit analyst at LendingTree.
At this point, shoplifting has become one of our primary national pastimes.
And it is increasingly becoming a “team sport” in many parts of the nation.
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On Friday night, a team of approximately 50 teens stormed a 7-Eleven in Los Angeles and completely ransacked it…
A large group of juveniles used “bodily force” to ransack a 7-Eleven store in Los Angeles Friday night, authorities said.
A Los Angeles Police Department spokesperson confirmed to KTLA that about 50 teens descended upon the 7-Eleven at the corner of Olympic and La Cienega boulevards in Pico-Robertson at 7:50 p.m.
The teens, many of whom were wearing masks, forcibly stole property from the store, the spokesperson said.
This particular incident barely made a blip in the news cycle.
Why?
These days, giant mobs loot stores so frequently that this sort of thing isn’t even considered to be very newsworthy anymore.
The thin veneer of civilization that we are all depend upon is disintegrating right in front of our eyes, and our once great country is descending into complete and utter chaos.
If things are this bad now, what will our cities look like once economic conditions become far more painful than they are currently?
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Rep. Matt Gaetz: There Are Five Known Trump Assassination Teams in America
by The Gateway Pundit
President Trump’s life may be in greater danger than anyone, including himself, realizes according to a Florida congressman. As The Gateway Pundit reported, a second attempt was made on Trump’s life on Sunday, just two months after he came within a centimeter of being killed in Butler, Pennsylvania by a…
Is There a Mole Within the Secret Service?
by Townhall
There have been two attempted assassinations of former President Donald Trump, and both times, the suspects have known information only insiders would know about security. How could that be? Since Sunday’s attempted assassination of Trump, making it the second one in two months, several questions have still gone unanswered, such…
Diddy Reportedly Paid Off Home Mortgage Before Being Arrested
by The Dupree Report
New revelations emerged regarding Sean “Diddy” Combs’ opulent Miami estate during his recent bond hearing. In a dramatic turn of events in March, federal agents descended on the hip-hop titan’s luxurious abode on Star Island, uncovering what they allege were preparations for illicit gatherings known as “Freak Offs.” These events…
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Mike DeWine’s History Raises Concerns About Potential Conflict of Interest With Haitian Migrants
by Daily Caller
Republican Ohio Gov. Mike DeWine has faced a series of conflicts of interests on key issues in his state, including with the ongoing Haitian migrant crisis affecting Springfield. DeWine recently pledged support to Springfield to assist with the influx in Haitian migrants, according to Spectrum News. Over a period of…
The Coincidences Continue: New Details About Would-be Assassin Ryan Routh’s Wife
by American Greatness
As details continue to emerge about the man accused of attempting to shoot former president Donald Trump, one of the more curious developments involves Ryan Routh’s wife Kathleen Shaffer and her work. During questioning yesterday by Representative Matt Gaetz (R-FL), Homeland Security Investigations Executive Associate Director Chief Katrina W. Berger…
We Can Stop the Democrats From Rigging & Stealing This Election. Now. Today. Here’s How.
by Wayne Allyn Root
I have the solution to what’s coming on November 5th. But President Trump needs to act fast. He must make this high-profile, controversial, headline-grabbing, announcement TODAY! Trump is winning an electoral landslide. We all know that. In every credible and historically accurate poll, Trump is leading in the popular vote…
Congressional Probe Into Democrat Fundraising Platform, ActBlue, Finds Potential “Criminal Activity”
by Darlene McCormick Sanchez, The Epoch Times
(The Epoch Times)—A congressional investigation analyzing more than 200 million political contributions found potential “criminal activity” and referred the information to five state attorneys general for further review. The review involved donation reports from ActBlue, an online Democratic fundraising platform, to the Federal Election Commission, according to Rep. Bryan Steil…
Man Screaming ‘Allahu Akbar’ Stabs One to Death, Gravely Injures Another in the Netherlands
by Human Events
Witnesses said that the suspect began attacking people at random while shouting the Arab phrase meaning “God is great,” commonly used by Muslims. One person is dead and another is gravely wounded after a man screaming ‘Allahu Akbar’ and carrying two knives went on a stabbing spree late Thursday in…
Jeremiah 18:8, “If that Nation Against Which I Have Spoken Turns from Its Evil, I will Relent of the Disaster that I Planned to Bring on It”
by The Gateway Pundit
As the US Congress is debating the Continuing Resolution (CR) that authorizes the national budget, most are concerned about the government shut-down that will occur if the CR is not passed. “Woe!” is being sounded by various Congressional members announcing the calamitous ruin that will fall upon our nation if…
One GOP Lawmaker Says It Doesn’t Feel ‘Safe’ to Work in Politics
by Townhall
Republican Florida Rep. Anna Paulina Luna said in an interview this week that it does not feel safe to work in politics and that she’s been the target of threats. Luna made the remarks in an interview with Chris Cuomo on NewsNation. “The rhetoric that continues to be pushed…when you…
Bill Gates Launches New Netflix Series That Lays Out Mass Suicide Plan for Global Human Depopulation
by Ethan Huff, Natural News
(Natural News)—Scheduled for a Netflix launch on September 18 is a new docu-series from billionaire eugenicist Bill Gates that pushes the notion that “we have to give up hydrocarbons almost entirely,” among other anti-human ideas. Because the climate is currently not to the liking of Gates and his acolytes, major changes…