Corporate Bankruptcies at 12 year high! 2,100 Retail Stores to close in 2023!

More than 2,100 stores are on track to close in the US over the course of 2023. On Black Friday in 2022, foot traffic was down 2.3% year-over-year at indoor malls, according to Placer.ai. The decline was even more pronounced when compared with 2019 pre-Covid figures. Indoor mall foot traffic was down 14.2% compared with the last pre-pandemic holiday season. So, heading into 2023, things already looked bad for the retail sector.
One of the many companies that are looking to close stores and lay off staff is Mcdonald's. Famous not only for the Big Mac but also for the Egg McMuffin and the Sausage Burrito, they temporarily closed ten field offices in April ahead of what is expected to be the closure of more than 100 stores and the laying off of their staff during 2023.
Meanwhile, Burger King franchisee Meridian Restaurants Unlimited is closing 27 restaurants across seven states, including in its home state of Utah.
PLEASE READ: This video is provided for entertainment purposes only and should not be considered as financial advice. Remember, the value of your investments can go down as well as up and you should engage a professional financial advisor rather than rely on an anonymous video on TH-cam…
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