by WorldTribune Staff, June 7, 2024 Contract With Our Readers

In just the first four months of 2024, U.S. retailers announced the closure of nearly 2,600 stores.

Those shuttering locations included big names such as Macy’s, Walmart, Walgreens, Foot Locker, and 7-Eleven.

Discount stores like Family Dollar and bankrupt 99 Cents Only have been the worst hit, as have drugstores like CVS and Rite Aid.

“If the U.S. economy is heading in the right direction, why are many of the largest retail chains in the U.S. shutting down stores?” asked Michael Snyder via The Economic Collapse blog.

At the current pace of closures, the total number of stores closed in 2024 will be nearly 40 percent higher than the total number of stores closed in 2023.

On Thursday, The Store, a major convenience store chain in Wisconsin, announced it has decided to close down all of its 25 locations.

Established in 1976, The Store will shutter its businesses at the end of July. It also has locations in Michigan.

Retail outlets are being hit with a major double whammy of poor economic conditions and an unprecedented wave of retail theft.

Theft is costing U.S. retailers more than 100 billion dollars a year at this point, according to industry analysts.

Banks are also shutting down branches at a feverish rate. So far this year, more than 400 locations have been permanently closed.

Biden's America is also in the midst of a “restaurant apocalypse.”

Red Lobster recently closed 93 locations earlier this year, and announced that 135 more are on the brink of being shuttered if they continue to lose money.

Major chains including Boston Market, Tijuana Flats, TGI Fridays, MOD Pizza, Outback Steakhouse, and Applebee's have closed locations this year.

What is happening under Joe Biden's economic policies “is what you call a crisis,” Snyder wrote. “Meanwhile, banks are shuttering hundreds of branches from coast to coast, and a 'restaurant apocalypse' is sweeping across the nation. Everywhere around us, 'space available' signs are going up on buildings that were once considered to be prime commercial real estate. If someone tries to convince you that the U.S. economy is in good shape, just show them this article and ask them why so many once prosperous businesses are closing. Needless to say, they will not be able to win the argument after that.”

Your Choice

  600 store closings in first four months of 2024, Biden's economy: 2, Macy's, Red Lobster, The Store, Walmart, WorldTribune.com