73,000 Stores To Close Down Despite Reduction In Rental Rates

January 15, 2009
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Rental rates have gone down but this is not reason enough to stop shopping centers from closing down. The reduced rental rates are seen as a respite by some establishments but massive sales reduction and worsening economic crisis is forcing the bigger retails stores to close down several outlets. The International Council of Shopping Centers reported that at least 73,000 stores are expected to close down during the first semester of 2009.  This will result in the further dropping down of rental rates in the commercial district.

Among those being to lose down underperforming locations are Sears Holdings Corp. and Talbots Inc. Other retailers like Sharper Image Corp., Linens ‘n Things…