More store closings coming: An estimated 12,000 shops could close by the end of 2019

Kelly Tyko
USA TODAY
Updated Oct. 2, 2019

The retail apocalypse isn't showing any signs of slowing down.

About 10 months into 2019, there have already been 47% more store closings announced than in all of 2018, according to a new report from global marketing research firm Coresight Research.

Based on Coresight Research's figures, retailers' earnings reports, bankruptcy filings and other records, nearly 8,600 stores are slated to shutter this year and thousands of locations already gone.

Bankrupt footwear company Payless ShoeSource, which closed its remaining U.S. stores in late June, accounts for about 37% of the closings.

The "going-out-of-business" sales and liquidation of other brands is expected to continue. Coresight estimates closures could reach 12,000 by the end of the year, the report said.

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The pain is expected to continue into future years, according to an April report from UBS Securities. UBS analysts said 75,000 more stores would need to be shuttered by 2026 if e-commerce penetration rises to 25% from its current level of 16%.

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