- Victoria's Secret has filed for bankruptcy.
- Zara has closed 1.200 stores.
- La Chapelle has withdrawn 4391 deals.
- Chanel production is discontinued.
- Hermes is discontinued.
- Patek Philippe has stopped production.
- Rolex has stopped production.
- The global luxury industry has collapsed.
- Nike has a total of $23 billion in preparation for the second phase of layoffs.
- Gold's gym went bankrupt
- The AirBnb founder said that because of the plans, 12 years of effort was wiped out in 6 weeks
- Starbucks also announced that it would permanently close its 400 stores.
- WeWork isn't well positioned either
Nissan Motor Co. may close in the United States. *
+ + + + + + + + + + + + + + + + + +
- The largest car rental company (Hertz) has filed for bankruptcy - it also owns Thrifty and Dollar
- The largest trucking company (Comcar) has filed for bankruptcy: it has over 4000 trucks
- Oldest retail company (JC Penny) has filed for bankruptcy - being taken over by Amazon for pennies
- The world's largest investor (Warren Buffet) has lost $2 billion in the last 50 months
- The largest investment firm in the world (BlackRock) reports a disaster in the global economy: it manages over 7 trillion dollars
- The largest mall in America (Mall of America) has stopped making mortgage payments
- The most prestigious airline in the world (Emirates) is laying off 30% of its employees
- The US Treasury is printing trillions of dollars to try to keep the economy afloat
- Estimate # of retail store closures in 2020 – from 12.000 to 15.000.
The following major retailers have announced closures: *
J team
Splits
Victoria's Secret
Works for the bath and the body
forever 21
Sears
Walgreens
Stop the game
Imports from the Nordstrom shipyard
Papyrus
From Chico
maternity goal
Model
AC Moore
You have
Angry
Art furniture for vans
Olympic sports
KMart
Special cafeteria and bakery
and many many more
The number of jobless claims has reached an all-time high of over 38 million - unemployment is over 25% (out of 160 million employed, almost 40 million are unemployed). With no income, consumer demand falls dramatically and the economy will go into freefall. This is just the United States...*
Source: Facebook
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