New York (CNN Business)It was another exceptionally awful month for retailers.
Well-known stores and mall staples announced they were closing thousands of locations in June as shoppers shift their behavior and the pandemic continues to cripple companies’ bottom lines.
June is just a microcosm of broader closures affecting the retail industry. Coresight Research said as many as 25,000 retail
stores in the United States are expected to permanently close this year as consumer demand for discretionary items stalls and more people shift to online shopping.
The firm anticipates closures will only get worse this year and set a new annual record this year. Last year, Corelight recorded a record 9,302 closures.
Here are some brands that announced closures in June: