The retail apocalypse over the past several years has devastated America's department stores, chains and mom-and-pops. Stores are closing at record levels. The number of people working in retail is on the decline.
And all of that happened at a time when the economy was strong.
But if the United States slips into a recession, as many economists fear it will sometime next year, the problems plaguing retail could get far worse. Store closings could accelerate and layoffs in the sector — a major provider of American jobs — could spread.. . . more