Last week I had some time to kill and went to the local mall. The last time I was there was at the holiday season. I was very surprised to see a lot of vacant store fronts, some of them national chains. I could have sworn the mall had more stores at Christmas time. I do know this particular mall has been slowly losing upscale retailers, the anchor stores are Macy's, JC Penney's, and Sears, but the shops in the mall are becoming more discount (and not even good discount).
NPR is running a week long series on Debt in America. Today's feature focused on retail stores. Stores such as Wilson Leather, Bombay and Co., CompUSA, Talbots, etc are all closing stores. You can click here to read the story, but I also suggest you click on the link for the pod cast and listen as well. Consumers are not the only ones feeling the credit crunch, even retail chains are having difficulties. Check it out.