The Atlantis Report
Premiered Nov 9, 2020
Eight months into the pandemic, mall bankruptcies, and retail carnage continues. Corporate bankruptcies are surging, small businesses shutting down. The explosion of bankruptcies and layoffs is unlike anything we have ever seen before. Job losses and store closings are all at apocalyptic levels.Hotel and restaurant industry apocalypse continues. The Main Street economy is collapsing. While the monster that is AMAZON which pays no taxes is getting richer as this goes down! Chicken Littles unite and start shopping again!
Bankruptcies before the looting starts.
Malls to become future Amazon warehouses. The Federal deficit and debt totally out of control as record federal spending continues. The last eight months have been an unending nightmare for the U.S. economy. Businesses are shutting down at a pace that we have never seen before in American history, the retail apocalypse has reached an entirely new level that none of the experts were anticipating prior to this pandemic, and we are in the midst of the greatest spike in unemployment that the United States has ever experienced.
The damage from the pandemic and the consequent government shutdowns continue to ripple through the economy.
Every week seems to bring another round of retail bankruptcies. With conditions worsening, the numbers are likely to keep climbing.
As many as 25,000 stores are expected to close in the U.S. in 2020, mostly in shopping malls, according to Coresight Research. Department stores and fashion boutiques are seen as the most endangered. The pandemic worsened an already dire situation for brick-and-mortar retailers, with a steady stream of chains falling victim as their customers shifted to online shopping.
Between bankruptcies, distressed owners, store closures, and existing vacancies, at least half of Mall’s square footage is now at risk. And hundreds of other malls around the country are in the same boat.
They’ll have a tough time filling this space. There’s going to be malls that are like a barren wasteland.
Two Major mall landlords already filed bankruptcy amid this retail carnage.
https://www.youtube.com/watch?v=FllNC01W2os
0 Comments: