Nov
10

Store Closings Likely to Top 5,000 in 2012

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As the holiday shopping season draws near, the weaker retail chains will be facing their hour of reckoning, with their sales growth during the November/December period determining their ability to survive. And while most retailers have already closed their worst performing stores and made their operations as lean as possible over the past few years, the uncertain economic climate might lead to a substantial number of store closures in the first quarter of 2012.

By conservative estimates, next year will likely bring more than 5,000 store closings, says Michael S. Wiener, president and CEO of Excess Space Retail Services Inc., a national consulting and advisory firm specializing in disposition and lease restructuring. And that’s not counting closings related to bankruptcies and liquidations.

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