Coresight has issued an update to its US Store Closures 2020 Outlook noting that, based on the more recent implications of the COVID-19 pandemic, between 20,000 and 25,000 store closures could occur in 2020. This is a significant increase from the previously estimated total of 15,000. More than 4,000 closures have already been tabulated. Looking ahead, as many as 60% of closures could take place in malls.
Related: JCPenney Preps for 154 Store Closures and Chapter 11 Bankruptcy