As Americans do more and more of their shopping online, thousands of brick-and-mortar stores are vanishing from malls, shopping centers and free-standing locations.
Retail closures hit a record high in 2017, with nearly 7,000 stores disappearing. The trend is expected to continue in 2018, although not on a scale as massive. So far, more than 1,770 store closings have been announced. Some chains are phasing out stores over a period of years.
Hint: If you’ve got a gift card for a struggling retail chain, it’s probably wise to use it sooner rather than later. And when you find a deal, be sure to put the money you saved into a savings account.