Pointless Democrat COVID shutdowns were the final death blow.
>The retailers’ graveyard is filled with once-proud brands, from upscale department store chain Lord & Taylor to RadioShack to Toys ‘R’ Us to Payless Shoes, all of which were forced into bankruptcy and closure due to the unaffordable debt that private equity owners ladened onto their balance sheets.
Welp, I guess better late than never for the media to acknowledge the root cause to the problem.
Inability to adapt, every retailer knew online shopping was driving less traffic into brick & mortar. Yet these large department stores kept the enormous sq ft and cut back on payroll. This led to unkempt stores and poor shopping experience. They could’ve easily streamlined the sq ft to match the payroll to ensure exceptional experience for shoppers and maximize the sales per SqFt.
4 comments
Reagan killed the middle class and the loss of discrectionary spending killed malls! https://theintercept.com/2021/08/06/middle-class-reagan-patco-strike/
Pointless Democrat COVID shutdowns were the final death blow.
>The retailers’ graveyard is filled with once-proud brands, from upscale department store chain Lord & Taylor to RadioShack to Toys ‘R’ Us to Payless Shoes, all of which were forced into bankruptcy and closure due to the unaffordable debt that private equity owners ladened onto their balance sheets.
Welp, I guess better late than never for the media to acknowledge the root cause to the problem.
Inability to adapt, every retailer knew online shopping was driving less traffic into brick & mortar. Yet these large department stores kept the enormous sq ft and cut back on payroll. This led to unkempt stores and poor shopping experience. They could’ve easily streamlined the sq ft to match the payroll to ensure exceptional experience for shoppers and maximize the sales per SqFt.