America’s retail chains have proven surprisingly strong during the pandemic. But a slowing economy may bring a fresh wave of store closings and bankruptcies. Retailers that sell mostly discretionary goods, cater to middle and lower-income consumers and have weak balance sheets will be most vulnerable.
” The Federal Reserve is also quickly raising interest rates to combat inflation, which is likely to cause some economic pain and job losses. The Fed anticipates that the unemployment rate could climb to 4.4% next year, up from 3.5% in September. Many investors and economists are predicting a recession. Such a scenario would result in a downturn for the industry. “This will put highly-levered retailers and weak companies at risk,” said Raya Sokolyanska, an analyst at Moody’s.
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