We’re not even halfway through the year, and there is already a hefty list of retailers and restaurants that have shut down locations this year to shrink their national footprint. This pullback on physical locations is a direct result of consumers being forced into tighter budgets with less discretionary spending room.
Shoppers looking forways to save money on groceries aren’t sympathetic to the plight of billion-dollar national chains seeking a higher profit margin, and as spending decreases, many stores and restaurants have no choice but to cut back on operational costs, which often includes downsizing locations.
See which big-name brands are closing locations in May…