Retailpocalypse is about to get worse

According to CoStar, a real estate information firm:”Retail is set to have a record year of closures, spurred by the shuttering of Toys ‘R’ Us, Sam’s Club, Sears and Bon-Ton stores around the country, CNBC’s Lauren Thomas reports. “The amount of retail space going dark in 2018 is on pace to break a record,” says the report, citing CoStar, a real estate information firm. Over 90 million square feet has been announced as closing this year, on track to surpass the 105 million square feet that was vacated by retailers in 2017. “

I have personally seen several retail stores that are closed or are in the process of selling off inventory before shutting their doors.  It is sad, however, for those employees, CEO’s, management and a-like, think ahead, get your ducks in a row and consult a professional to go over all your options.  Being Pro-Active now, is a choice you have now.

Sherry Ellis Law, PLLC