Full screen recommended,
Finance Today, 12/28/22:
"15 Big Retailers In US Closing Down Stores Right Now"
"Closures of businesses and large retail stores such as Walmart and Target could cause a jobs crisis and shortages of food and products in the United States and the world, aggravating the recession and economic crisis. In this documentary, we will see what is really happening in the economy, what the causes are and what we can do about it. To that end, in today's video, we compiled a list of some of the biggest names in their respective fields that have announced plans to close dozens or perhaps hundreds of sites.
Hundreds of shops have closed their doors recently. Our ability to spend money is being attacked from so many directions at once that a retail apocalypse is spreading throughout the United States. Most of us have less disposable income each month after covering fixed costs like rent or mortgage, utilities, transportation, and food. Some of us aren't even using that money; we're putting it away for when the next storm comes. As a result, enterprises of all sizes in the United States are seeing poorer sales, lower profitability, and lower earnings. After two very challenging years for our economy, many of these companies were already struggling to stay afloat. A pandemic, supply chain challenges, inflation, and skyrocketing commodity costs all contributed to the already harsh environment. Big companies like McDonald's and Disney are among those announcing store closures as they scramble to reduce overhead and stay afloat in the current economic downturn."
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Full screen recommended.
Finance Today, 12/28/22:
"10 Famous Grocery Stores In US That Are Going
to Disappear Due To The Economic Crisis"
"Grocery Stores may be immune to the retail sector's bankruptcies. Not while competing with Walmart, Target, and Amazon-owned Whole Foods. Grocery may be tough. In recent years, grocers have faced supply chain disruptions, workforce shortages, disruptive mergers and acquisitions, and massive debt. Some big-box merchants saw huge sales spikes during the epidemic, but boutique grocers struggled. Even with rising sales, grocery store businesses often had to file for bankruptcy, close all their stores, and lay off all their employees.
Many supermarkets that were once ubiquitous names have come and gone. But our economy is crumbling. Some establishments that were once a major part of communities are disappearing due to excessive competition, razor-thin profit margins, a collapsing retail landscape, and changing purchasing preferences. This is a tough economy for all businesses, and the more we lose smaller specialist retail chains, the more we rely on large multinationals. This leaves buyers vulnerable to price rises and with fewer options.
Thousands more supermarkets may also close in the coming few years. According to Inmar Intelligence, 1.3% of U.S. stores have closed this year. The number of U.S. supermarkets may fall by an additional 6% over the next four years as consumers shift to e-commerce and companies battle with rising real estate, energy, labor, and supply costs. In other words, supermarket inflation is here to stay, and these are only the beginnings of a multi-year problem. In today's video, we assembled some once-thriving supermarket stores that are going broke, closing, and clinging by a thread as the economy worsens."
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