Store closing announcements more than tripled to about 7,000, a record, according to Fung Global Retail and Technology, a retail think tank. There have been 662 bankruptcy filings in the retail sector so far in 2017, according to BankruptcyData.com. That's up 30% from the same period last year. Credit: Getty Images/AP/CNNMoney
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Retail's Toughest Year: A Record for Store Closings
The traditional retail industry just capped one of its most difficult years with a successful holiday shopping season. The question is, will that be enough to save stores on the brink?
