Other retailers, including Walmart, have told media outlets such as Fox News that theft is hurting their profits as they shutter stores. Walmart announced in April that it was closing four stores in Chicago but did not directly link that action to theft.
Commercial bankruptcy filings increased 31% in May 2023 from May 2022, according to a report from a company that tracks bankruptcy filings. There were 2,324 commercial filings in May 2023 compared to 1,771 registered in May 2022, according to Epiq Bankruptcy.
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