American malls are closing all over the US.
A report done by Credit Suisse estimates that 20% to 25% of malls would shutter over the next five years, largely because of store closures.
In 2017, 6,400 stores closed – a further 3,600 are expected to close in 2018.
These photos show how malls were forced to shutter as key anchors such as Sears and Macy’s left.
American malls are dying out.
Retail complexes all over the US are being clobbered by store closures sweeping the country.
In 2017, more than 6,400 stores closed and another 3,600 are expected to shutter in 2018. According to a report done by Credit Suisse, this will result in 20% to 25% of malls closing in the next five years.
A national retail apocalypse has crippled US malls as anchor stores such as Macy’s and Sears, which take up large retail spaces and drive foot traffic, have shuttered stores and left malls with enormous gaps to fill.
For many malls, this is an impossible task.
Take a look at some of these haunting photos below that show how badly America’s malls have been hit:
SEE ALSO: These photos of empty stores show why Mattress Firm could be on the verge of closing hundreds of locations
This is the Carousel Mall in San Bernardino, California, which closed in 2017. The mall had been hanging by a thread after it lost its two main anchors, Montgomery Ward and JC Penney, several years before.
Source: Business Insider
Euclid Square Mall in Ohio had a similar fate and shuttered in 2016.
It was temporarily used by religious congregations who held services in old stores. In September 2017, Amazon announced plans to build a 1.7 million square foot fulfillment center in its place.
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Source:: Business Insider