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Retail Apocalypse Is Greatly Accelerating: Companies Are Suddenly Closing All Over America! - Must See Epic Economist Video!

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All across the nation, retailers are going bankrupt and closing stores. Evidently, this has been going on for many years, but as we are about to discuss, the bankruptcy numbers have never escalated as high as they did in 2020 in all US history. This is the worst retail cataclysm ever. To understand the extension of the damage – and if you haven’t taken a trip to a mall since the sanitary outbreak has hit American grounds – let’s picture a standard US shopping mall, with dozens or even hundreds of stores, consumers, and workers engaging, interacting and you can almost hear the sound of the economic activity flowing. Well, now this scenario is fading into a landscape that re-emerges almost entirely empty, with most stores closed, and the ones that remain open are liquidating stock so that they can shut down their doors for good, the customer presence is almost non-existent, the staff that used to be there to greet and assist the public is reduced to one person, timidly wearing a mask and standing alone behind the counter. That’s no wonder why they call it “retail apocalypse”, the setting looks exactly like one.

The stores are hollowed-out, malls are abandoned and the coming holiday season isn’t likely to change much of this backdrop. In fact, big retailers such as Walmart, Target, and Home Depot already disclaimed they will not be open during Thanksgiving day, Black Friday, or even Christmas, and many other stores are bound to follow the same move. This month we recorded the highest retail bankruptcy rate of the past decade, and the struggle isn’t over just yet, because the implications of more business closures will strike Main Street once again.

The columnist Donald Lambro has recently observed how damaging the effects of the virus outbreak were to this industry, leading retailers into a never-ending collision course. He pointed out that the new restrictions may have had a chilling effect on shoppers, who would naturally prefer to stay home and order goods online rather than risking exposure to the virus by venturing to department stores and shopping malls. Amongst the most reputed names that whether keep struggling to survive or have been already fatally pushed out of the market in face of the current crisis are Macy’s, Bed, Bath and Beyond, Kmart, Dunkin’ Donuts, Nordstrom, Lord and Taylor, Men’s Wearhouse, Joseph A. Banks, J. Crew, Neiman Marcus, Brooks Brothers and J.C. Penney.

Even though we do agree that the health crisis had a major influence on the collapse of this industry, it only boosted a trend that has been already happening. The massive bankruptcy surge didn’t just surface in February, along with the outbreak, but it certainly has amplified retailers’ problems. Since 2018, many of these businesses were signaling considerable failures in their activities. Back then, roughly 5,000 stores were closed, provoking shocked gasps in the markets. In 2019, the number escalated to almost 15,000 and the retail lay-offs experienced an increase of 92%. But nothing compares to what is happening in 2020. 

A few weeks ago, we reported a Yelp study which has shown that by the end of August, 163,735 U.S. businesses on Yelp have closed since the beginning of the sanitary crisis, marking a 23% increase from July 10. The study outlined that in the wake of the virus-related cases surge and continuous changes in local restrictions still happening in many states it was possible to see both permanent and temporary closures rising across the nation, with 60% of those closed businesses not reopening, configuring in 97,966 stores that will now be permanently closed.

Likewise, a recent poll unveiled that 70 percent of Americans believe our nation is going in the wrong direction. Without jobs, income, and federal assistance, American households are facing lots of anguish and financial pain. If the present situation is being considered as an economic recovery, that’s a sign that much worse is coming next. If the US economy was really in a good shape, there wouldn’t be millions of vacant square feet on shopping malls that used to be filled with retail stores. The real state crisis is transforming some areas into ghost towns. And we have to say, the word apocalypse won’t cover what the future holds. 

Visit our website for more news: https://www.epiceconomist.com

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Total 5 comments
  • Slimey

    if WE DO NOT open soon there won’t be anything to return too except the big box stores. Is this what they wanted in the first place?

    That’s not isolating sick people but ROUNDING THEM UP in ONE PLACE. That’s against isolating people isn’t it?

    In DAT CASE, going to small businesses like mom and pop shops are a lot safer for EVERYBODY so it should have been the other way around.

    So, you tell me what these lying uckfers up there are REALLy doing?? :twisted:

    I’m surprised there has not been an armed and mass revolt at what they are doing to you with some massive hangings before it gets out of hand with mass starvation and burnt and boarded-out cities.

    LIKE NOW, for instance! :twisted:

    • Anonymous

      Deep State’s Trojan Horse Trump said “I shut down the econmy.”
      Bankruptcy is MORE WINNING !
      Trust The Plan
      MAGA MAGA MAGGOT!!!

      • Slimey

        I’m talking about the Demoncrap kontrolled cities shutting down all the businesses or burning them down.

        They don’t like you. They don’t like you to have a business and they force you to wear a mask because you are nuth’n but a stinker to them and they make fun of you dat way. :roll:

      • Justin Case

        It was the STATES that shut things down you moron…

  • huge_juan

    I’m not buying anything for anybody for Christmas. (bah humbug) I have alerted all of my children and relatives that if they buy me anything that I will cut them out of my will. Lets all get together and celebrate the birth of the Christ child. Eat a big Christmas dinner, Drink a little wine and good scotch, smoke a few cigars, fart and belch, go home with a good feeling and smiles on our faces knowing that we are in the hands of God almighty and his son Jesus Christ.

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