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Retail has been on life support — coronavirus could pull the plug

By April 7, 2020 December 31st, 2020 No Comments

With hundreds of thousands of stores closed nationwide, the coronavirus pandemic is accelerating dramatic changes across the retail industry that had been underway well before the viral outbreak hit the U.S., according to analysts.

“Retail has been on life support,” said Ian Ross, principal of the commercial real estate investment firm SomeraRoad. “Dozens of these companies were on the verge of financial collapse, and I have a hard time believing they’re not going to collapse because of this.”