Over the last three years, thousands of stores shuttered–and dozens of companies went bankrupt. In 2017 alone, 7000 stores closed their doors, and many brands with large retail footprints filed for Chapter 11, including Toys R Us, Gymboree, Payless, Wet Seal, and The Limited. Many experts expected 2018 to be even more disastrous to the retail industry.
But that didn’t happen. In 2018, about half as many stores closed as the year before, and in an interest twist, we saw the rebirth of physical retail, with startups developing their own take on stores and large real estate companies rethinking how malls should be designed. . . . more