Report: 1 in 4 shopping malls in U.S. will be closed by 2022
(FOX 11) - A new report from Credit Suisse says up to 25 percent of U.S.shopping malls may close in the next five years.
It predicts the rise of e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.
The report estimates that around 8,640 stores will close by the end of the year.
A number of mall-based retailers like Sears, Macy's, Kohl's and J.C. Penney have announced closures this year.
Recently, clothing retailer Bebe closed all of its stores.
And the fight against e-commerce giants like Amazon will only get worse.
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