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4 Major Retailers Announce Store Closings

June 12, 2017

If you were looking for me on weekend nights when I was in middle and high school, I was probably at the mall with a bunch of friends. That was the normal Friday or Saturday night plans. We'd go to the mall and browse around, buy a few little things, and eat dinner at the pizza place. But more and more Malls are closing down or seeing many stores inside go out of business. 

It seems like 2017 has been the year that many major retailers announce that they are filing for bankruptcy and closing many locations. Major stores like Macy's, JCPenney, and Sears will be closing many locations by the end of the year. 

And now four more popular mall stores are announcing closings. Do you shop at Ann Taylor, Loft, Dress Barn, or Layne Bryant? Acsena Retail Group, the parent company for the stores, announced that it plans to close between 250 to 650 locations over the next two years!!! 

It's a guarantee that 250 locations will close. And 400 other locations are in jeopardy of closing if the company cannot negotiate the rental rate down for the stores. 

Could what we know as the American shopping mall be extinct in the next 10 or so years? Experts predict that at this rate 25% of malls across the country will all close within the next 5 years!