{"id":363245,"date":"2018-05-29T17:04:52","date_gmt":"2018-05-29T16:04:52","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-77-million-square-feet-of-retail-space-and-counting-americas-retail-apocalypse-is-spiraling-out-of-control-in-2018\/"},"modified":"2018-05-29T17:04:52","modified_gmt":"2018-05-29T16:04:52","slug":"prison-planet-com-77-million-square-feet-of-retail-space-and-counting-americas-retail-apocalypse-is-spiraling-out-of-control-in-2018","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-77-million-square-feet-of-retail-space-and-counting-americas-retail-apocalypse-is-spiraling-out-of-control-in-2018\/","title":{"rendered":"Prison Planet.com \u00bb 77 Million Square Feet Of Retail Space And Counting \u2013 America\u2019s Retail Apocalypse Is Spiraling Out Of Control In 2018"},"content":{"rendered":"
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Michael Snyder<\/strong>
Economic Collapse
May 22, 2018<\/p>\n

In 2017 we absolutely shattered<\/a> the all-time record for retail store closings in a single year, and this year it looks like we are going to shatter the record once again.\u00a0 In fact, there are some that are projecting that up to 9,000 retail stores<\/a>could close by the time that we get to the end of this calendar year.\u00a0 Already, the amount of retail space that has shut down is simply jaw-dropping.\u00a0 If you total up all of the retail store closings that have been announced so far in 2018, it accounts for 77 million square feet of retail space<\/strong>.\u00a0 Let that number sink in for a bit.\u00a0 Many shopping centers and strip malls around the country already have a post-apocalyptic feel to them, and more \u201cspace available\u201d signs are going up with each passing day.\u00a0 And in case you are tempted to think that I am making this figure up, here it is straight from Bloomberg<\/a>\u2026<\/p>\n

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At last count, U.S. store closures announced this year reached a staggering 77 million square feet<\/strong>, according to data on national and regional chains compiled by CoStar Group Inc. That means retailers are well on their way to surpassing the record 105 million square feet announced for closure in all of 2017.<\/p>\n<\/blockquote>\n

In the end, we could shatter the all-time record that was established just last year by 20 or 30 million square feet.<\/p>\n

At moments such as this, the phrase \u201cretail apocalypse\u201d doesn\u2019t really seem to fit the gravity of what is actually taking place.<\/p>\n

And unfortunately for the retail industry, it doesn\u2019t appear that this crisis is going to end any time soon.\u00a0 Here is more from Bloomberg<\/a>\u2026<\/p>\n

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And with shifts to internet shopping and retailer debt woes continuing, there\u2019s no indication the shakeout will end anytime soon<\/a>. \u201cA huge amount of retail real estate in the U.S. is going to meet its demise,\u201d says James Corl, managing director and head of real estate at private equity firm…<\/p>\n<\/blockquote>\n<\/div>\n

Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Michael SnyderEconomic CollapseMay 22, 2018 In 2017 we absolutely shattered the all-time record for retail store closings in a single year, and this year it looks like we are going to shatter the record once again.\u00a0 In fact, there are some that are projecting that up to 9,000 retail storescould close by the time that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-363245","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=363245"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363245\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=363245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=363245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=363245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}