Store closures could rise 7 percent this year
Retail chains have announced nearly 3,000 closures in the first half of the year, the ICSC says, with Linens 'n Things, Regis Corp., Starbucks and Steve and Barry's adding nearly 900 store-closure announcements to that total in the first few weeks of the third quarter. The apparel sector accounted for the largest portion of this year's store-closure announcements, according to the ICSC. During the first half of the year, apparel chains closed 981 stores. Last year, fallout from the housing bust resulted in a high number of store closings within the home entertainment and furniture and furnishings sectors.
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