According to the Chicago Sun-Times, several retail analysts are predicting that up to 73,000 retail locations will close during the first quarter of 2009 and 20-40% of retail chains could go totally out of business next year.
Ann Taylor, Sears and Talbots are just some examples of the retailers that may be heading toward filing bankruptcy in early 2009, according to the Washington Times.
To struggling retailers, there's little hope that sales will improve as quickly as they need them to--consumers are still very hesitant to swipe that credit card or pull out that cash.
For now, though, consumers who want to spend can take advantage of the stores' massive [and seemingly desperate] blowout sales.
Tags: bankruptcy, consumers, retailers
This entry was posted on Wednesday, December 31st, 2008 at 1:00 pm and is filed under Bankruptcy and the Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
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