Retail Stores Are Closing At A Record Pace

For those of your mourning JCPenney, Payless and other store closures.

American Apparel's Board Removes Controversial CEO Dov Charney
Getty Images | Andrew Burton

Maybe you thought it was just a phase when JCPenney announced that it would close more than 130 stores nationwide.

But then you heard about The Limited. Then Payless. Then Bebe.

Nope, it’s not just your imagination. Retailers are closing so many stores this year that 2017 could set a new record.

A new research report from brokerage firm Credit Suisse says it’s possible that more than 8,600 stores will close in 2017. That’s up from the 2,065 stores that closed in 2016 and the 5,077 that closed in 2015.

jcpenney photo
Getty Images | Justin Sullivan

The worst year for retailers was 2008—during the recession—when 6,163 stores shut their doors.

Things aren’t looking good for brick-and-mortar stores for the rest of 2017 (or the employees who could lose their jobs).

To help you keep track, we put together this list of popular retailers that are closing stores in 2017—you may not like what you see.

Plus, due to something known as the restaurant recession, these popular restaurant chains are also struggling.

 

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