Is a tsunami of store closings coming at the end of the year?
Yes, according to the “retail distress” experts at Grant Thornton, who say as many as 10,000 retail stores in 2009 could go dark by New Year’s, twice as many as in 2008.
But there are ways savvy retailers can survive, the company says, including by committing to financial management and process improvement initiatives, which just happen to be Grant Thornton’s business.
That said, it couldn’t hurt to for retailers to fine-tune operations and capitalize on these recession-driven trends identified by Grant Thornton:
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