We warned against this in 2016 already

Retail insolvencies on the rise, report finds – Inside Retail Australia – 4 Mar 2019

More than 465 bricks-and-mortar stores closed their doors for good in the US over the weekend, sparking headlines that the ‘retail apocalypse’ is alive and well.

And while the store closure surge was primarily driven by retailers, such as Gap, J.C. Penney and Victoria’s Secret, ‘rightsizing’ their footprints after a slow December, rather than businesses going bankrupt, it comes as retail insolvencies in Australia are on the rise.

https://www.insideretail.com.au/news/retail-insolvencies-on-the-rise-report-finds-201903