A tsunami of store closures is about to hit the US — and it's expected to eclipse the retail carnage of 2017

Retailers are bracing for a fresh wave of store closures in 2018 that's expected to eclipse the rash of closures that rocked the industry last year.
"Landlords are panicking," said Larry Perkins, CEO and founder of the advisory firm SierraConstellation Partners. "The last year was pretty apocalyptic from a retail standpoint, and the macro issues haven't changed. There will continue to be a high degree of bankruptcies and store closures."
2017 was a record year for both store closures and retail bankruptcies.
Dozens of retailers including Macy's, Sears, and JCPenney shuttered an estimated total of 9,000 stores — far exceeding recessionary levels — and 50 chains filed for bankruptcy over the course of the year.
But there's still a glut of retail space in the US, and the fallout is far from over.
The number of store closures in the US is expected to jump at least 33% to more than 12,000 in 2018, and another 25 major retailers could file for bankruptcy next year, according to estimates by the commercial real estate firm Cushman & Wakefield.

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