{"id":2593,"date":"2020-04-23T11:44:44","date_gmt":"2020-04-23T11:44:44","guid":{"rendered":"http:\/\/lonecandle.com\/?p=2593"},"modified":"2020-04-23T11:44:44","modified_gmt":"2020-04-23T11:44:44","slug":"nobodys-buying-clothes-right-now-so-stores-are-filing-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=2593","title":{"rendered":"Nobody\u2019s buying clothes right now. So stores are filing for bankruptcy."},"content":{"rendered":"\n<p>\n\n&#8220;It\u2019s not like the brick-and-mortar retail business was booming before the coronavirus pandemic, either. For the past decade,&nbsp;<a href=\"https:\/\/www.vox.com\/the-goods\/2019\/4\/1\/18285928\/death-of-retail-shopping-bankruptcy-business-sears-toys-r-us\" target=\"_blank\" rel=\"noreferrer noopener\">Americans\u2019 shopping habits have drastically shifted<\/a>, thanks to the advent of online shopping, same-day delivery, and direct-to-consumer startups. While many stores have invested in turning their locations into \u201cexperiences,\u201d corporate behemoths like Sears, Family Dollar, Toys R Us, Claire\u2019s, Forever 21, and Payless have struggled to adapt to customers\u2019 expectations.<\/p>\n\n\n\n<p>What\u2019s been called the \u201cretail apocalypse\u201d over the last 10 years is rapidly accelerating due to coronavirus. Analysis from retail industry tracker&nbsp;<a href=\"https:\/\/www.cbsnews.com\/news\/coronavirus-15000-stores-close-year-2020\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coresight Research suggests<\/a>&nbsp;that more than 15,000 stores in the US could permanently shutter, up from the 9,500 that closed their doors last year.<\/p>\n\n\n\n<p>If the great American&nbsp;<a href=\"https:\/\/www.vox.com\/the-goods\/2020\/2\/5\/21113525\/barneys-bankruptcy-closing-liquidation-sale\" target=\"_blank\" rel=\"noreferrer noopener\">department store was already in decline<\/a>, coronavirus may be what finishes the job. It\u2019s almost certain that Neiman Marcus is just the beginning.&#8221;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.vox.com\/the-goods\/2020\/4\/19\/21227275\/neiman-marcus-bankruptcy-coronavirus-retail\">https:\/\/www.vox.com\/the-goods\/2020\/4\/19\/21227275\/neiman-marcus-bankruptcy-coronavirus-retail<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;It\u2019s not like the brick-and-mortar retail business was booming before the coronavirus pandemic, either. For the past decade, Americans\u2019 shopping habits have drastically shifted, thanks to the advent of online shopping, same-day delivery, and direct-to-consumer startups. While many stores have invested in turning their locations into \u201cexperiences,\u201d corporate behemoths like Sears, Family Dollar, Toys R Us, Claire\u2019s, Forever 21, and Payless have struggled to adapt to customers\u2019 expectations.<br \/>\nWhat\u2019s been called the \u201cretail apocalypse\u201d over the last 10 years is rapidly accelerating due to coronavirus. Analysis from retail industry tracker Coresight Research suggests that more than 15,000 stores in the US could permanently shutter, up from the 9,500 that closed their doors last year.<\/p>\n<p>If the great American department store was already in decline, coronavirus may be what finishes the job. It\u2019s almost certain that Neiman Marcus is just the beginning.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[720,723,721,588,409,483,217,722,719],"class_list":["post-2593","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-bankruptcy","tag-clothes","tag-clothing","tag-corona","tag-coronavirus","tag-covid-19","tag-economics","tag-retail","tag-stores"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/2593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2593"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/2593\/revisions"}],"predecessor-version":[{"id":2594,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/2593\/revisions\/2594"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}