JCP - More Than 15000 Stores Could Close Permanently in 2020
The coronavirus pandemic will be blamed, but it's not the only reason retail store closures will set a record in 2020. The virus has, of course, disrupted retail, but most of the permanent shutdowns that will happen this year are likely to be retailers that die faster due to the pandemic, not ones that were healthy before the current crisis hit.
J.C. Penney (NYSE: JCP), Sears (OTC: SHLDQ), and GameStop (NYSE: GME) had major sales problems before the pandemic forced widespread temporary closures. It's likely that, at the very least, all three will end up permanently shuttering locations even if they can avoid overall bankruptcy.
Coronavirus will be named as the cause, but in most cases, the pandemic is just a final nail in the coffin, not the cause of death.