Facebook Bans Robinhood Stock Traders Group
The traditional bricks and mortar retailers couldn t have survived the wrath brought about by the pandemic. They actually didn t.
Like the proverbial drowning man clutching at a straw, the retailers were holding onto the hope of the festive/holiday season. It did nothing. The dipping economy and stay at home orders further multiplied the financial pressure these retailers were under. Many downed shutters permanently, some even filed for bankruptcy protection.
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Numbers big and sad
As per a compilation released recently by commercial real estate firm CoStar Group, retailers big and small closed 12,200 stores in the US in 2020. In June last year, the research and advisory firm Coresight Research had predicted that more than 20,000 store closure announcements by retailers in 2020, though eventually it ended up tracking only 8,741. As per Forbes, by the end of December 2020, as many as 15,542 store closures were announc