The Real Deal Miami

Retail failures to skyrocket

December 30, 2008 09:55AM

Online retailer
filed for bankruptcy protection this week, and it will not be the last
to do so, say experts, who predict the most retail closings in 35
years in 2009. That will mean more empty storefronts in South Florida and the
rest of the country. Circuit City filed for bankruptcy
protection last month. It plans to keep operating, but toy seller KB
Toys, which filed for bankruptcy earlier this month, is liquidating its
stores and will shut down. Holiday sales fell from 2 percent to 4
percent compared with a year ago, according to SpendingPulse, a
division of MasterCard Advisors.