2017 was a perfect storm for "brick and mortar" retailers who officially lost the war with Amazon, and no less than 30 retail chains filed for bankruptcy in a year in which the CEO of Urban Outfitters said the "retail bubble has now burst"...
... bringing the total number of Chapter 11 cases since mid-2015 to 50, accounting for over $20 billion in liabilities.
6 comments:
The thing to consider though is what does our economy look like when we only buy goods from Walmart or Amazon?
Moody's is also warning that the City of Salisbury, Maryland is under Bankruptcy Watch.
And this is the same Jack Heath that thinks he can run Wicomico County?
People, beware, Jack Heath is out to run Wicomico County in the ground so that it can be ruled by Jake Day and the Salisbury minions.
Nothing new on this list....only one we even have is Toys-R-Us.
I'm certain if Sears was a cancer patient, they would be in hospice care right now on death watch. Just a matter of time. First Kmart stores, and then eventually Sears. Sad end to what was once a great retail store.
Businesses still struggling with Obama's 8 years in office and even though president Trump passed tax cuts corrupt congress don't let them take effect until 2019.
Are you saying places aren't going out of business in Salisbury?! When did you last leave your house?
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