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10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

January 28, 2021

Via: CNBC

One retail research and advisory group predicts as many as 10,000 stores could be closed in the United States this year, which would set a new record, as the Covid pandemic continues to take a toll on the industry and companies rethink how many locations they can sustain.

10,000 closures would represent a 14% uptick from 2020 levels, Coresight Research said in a report released Thursday. Coresight also forecasts that retailers will announce 4,000 store openings in 2021, driven by growth from grocery discounters and dollar store chains.

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