None of those in these parts, except once per week. 😂 More seriously, 2023 is going to be a terrible year for brick and mortar retail. I keep seeing reports that twenty plus large retailers will go bankrupt and close many if not all of their stores. Tuesday Morning has been in several of those reports. This will only exacerbate the commercial real estate situation and impact dozens of already technically insolvent banks.
Yep, I’ve been hearing that commercial real estate is due for a meltdown.
Apparently the key indicators are there, for this meltdown to happen. Retailers struggling, office space going vacant, owners of malls and office buildings having trouble making their mortgage payments, due to vacancies, and other factors, may be adding up to a perfect storm.
In the last couple of years here we have lost Sears, JC Penney, K-Mart, Bed Bath & Beyond, McRae’s, Dillards, and now Tuesday Morning....................