Why it’s happening
In an analysis of the trend, O’Shea remarked that it’s an unusual environment for retail companies to be failing in, as “it’s happening in a macro environment that’s pretty good for retailers,” where consumers are spending. For many of these large-scale retailers, the biggest problems are competition from online shopping and high long-term debt. Many bricks-and-mortar retail outlets carry heavy borrowing debt, making it difficult for them to make the shift to focussing on their online shopping experience.
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