US retailers are facing a dire outlook in 2009 as tight credit and scared consumers could lead to mass store closings and bankruptcies.
As many as 200,000 retailers could shut their doors next year, up from 160,000 in 2008, said Burt Flickinger, managing director of Strategic Resource Group, a retail consultancy. Moreover, as many as 3,000 malls and shopping centres in the US could declare bankruptcy by next July.
