Frightful economic toll as some stores won't be coming back

Retail shopping centers changing with closure of major shopping chains.
Posted at 2:29 PM, May 26, 2020
and last updated 2020-05-26 15:33:07-04

As malls begin to reopen this month, many shoppers are getting a shock when they first return.

Consumer reporter john matarese shows us all the stores that will still be closed so you don’t waste your money.

After a two-month lockdown, stores all across the country are starting to reopen.

But your local mall may never look the same....Because some stores that closed may never come back.

The balloons are out...And the doors are open....At retailers everywhere.

Store owners like Kelly Stevens are hoping the shoppers come back.

"It's a very tough environment to be in," Stevens said. "Very scary, but I'm trying to stay positive."

But it's already too late for thousands of stores that were struggling long before the pandemic hit.

Such as Victoria's Secret that's closing 250 locations, a quarter of its stores.

And Pier 1, closing all of its 500 stores.

And from the doesnt that stink file...A stunning business insider report listing many other stores shutting for good.

  • J.C. Penney: closing 242 locations, one third of all its stores.
  • Game Stop: Closing 350 stores.
  • Papayrus: Shutting all 250 stores.
  • Forever 21: 178 stores closing.
  • Bose: All 125 stores.
  • And AC Moore: All 145 stores.

Have a gift card to any of those stores?

Use it as soon as possible, before the stores near you are gone for good.

So you don't waste your money.

Even some high-end retailers are calling it quits. Nordstrom and Neiman Macus are each closing more than a dozen stores, proving that no one is immune.