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Inflation and Changing Trends Hit Companies Hard

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ECONOMY,INFLATION,BANKRUPTCY

This year was particularly challenging for many well-known companies, with soaring inflation leading consumers to cut back on discretionary spending. Numerous businesses have faced financial difficulties, with some filing for bankruptcy and others shedding jobs. The retail sector has been particularly hard hit, as the post-pandemic surge in spending has waned.

<p>NEW YORK — This year was brutal for a number of well-known companies and their bottom lines.</p><p>As <a href="https://www.ksl.

</p><p>Notably, retail closures have picked up this year because the sector's sugar high of 2021 and 2022 — when consumers were buying new furniture, televisions and clothing — has

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