“It’s very clear that consumers are running out of money. They’re increasingly stressed by inflation and the exhaustion of their pandemic-era savings. When you take a look over the last several years, what you see month after month, everyone talks about, the consumer’s still spending. They might be, but they’re spending less than the growth of inflation,” Storch Advisors CEO Gerald Storch told Fox Bussiness’ Maria Bartiromo on Thursday during an interview.

This chart sums up the consumer’s dire state.

We noted earlier this week that the National Retail Federation’s annual Prosper Insights & Analytics survey showed lower forecasted spending trends for Halloween among consumers nationwide. The last time this happened was just before the Covid crash. All eyes should be on upcoming Black Friday and Cyber Monday to gauge holiday shopping trends.

One last thing: perhaps mounting economic hardships are some of the drivers as to why US drinking rates have surged to the highest levels since the 1970s inflation storm.

Millions of Americans feel stressed in this disastrous Bidenomics era—it’s only a matter of time before something gives.

Needless to say, our retailers are highly dependent on discretionary spending, and many of them have been reporting very disappointing sales numbers recently.  Sadly, the problems that our retailers are experiencing are only going to intensify as U.S. economic activity continues to slow down.

According to CBS News, U.S. retailers have announced the closing of more than 3,000 locations in 2024…

The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis.

That’s a 24% increase from a year ago, according to a report from retail data provider CoreSight, which tracks store closures and openings across the U.S.

The closing of 3,200 stores sounds really bad, but it is important to note that the quote above is from a CBS News story that was published on May 13th.

Since that time, there have been a lot more store closing announcements. For example, last week we learned that Big Lots plans to close nearly 300 stores…

Two months after announcing plans to close about 40 stores nationwide due to financial woes, Big Lots has indicated on its website it intends to close almost 300 stores.

The discount retailer announced in June it was facing several areas of financial strain that would result in 35-40 stores closing across the country. However, an audit of the Big Lots website on Aug. 2 reveals almost 300 stores are slated to close in the United States, including 18 in New England.

Meanwhile, a home goods retailer that has been in business since 1890 is preparing to permanently shut down over 170 stores…

A home goods retailer is closing all of its more than 170 stores after filing for bankruptcy.

Conn’s HomePlus, based in The Woodlands, Texas, operates stores in 15 states, including 11 in Louisiana. The company began in 1890 in Beaumont, TX. The Conn’s HomePlus store on Derek Drive in Lake Charles is included in the closures.

Burdorf Interiors has been in business for even longer, but now they have also reached the end of the road…

Burdorf Interiors, a 157-year-old local business, is shutting down, according to Louisville Business First.

The company announced the closure in a news release Wednesday.

“It’s with a heavy heart that we are announcing the closing of Burdorf Interiors,” the release said. “The business has been open in several locations throughout Louisville since 1867.

Just think about that.

They opened their doors just after the end of the Civil War, and now it is all over.

Drug store chains have been hit particularly hard by our ongoing retail apocalypse.

Rite Aid was once a retail powerhouse that was expanding like crazy, but now they plan to close 780 stores…

Rite Aid, which was based in East Pennsboro Township near Camp Hill for decades and is now based in Philadelphia, filed for Chapter 11 bankruptcy in October to begin restructuring to significantly reduce its debt.

Since October, the company has announced in bankruptcy filings the closing of 780 stores.

Of course Dollar Tree has Rite Aid beat.

During the course of the next few years, Dollar Tree plans to close almost 1,000 stores…

Dollar Tree on Wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings report.

The discount store chain lost $1.7 billion in the fourth quarter, down sharply from earnings of $452.2 million a year ago.

Unfortunately, this is just the beginning.

Analysts at UBS are projecting that approximately 45,000 stores will be permanently shut down in the U.S. during the years in front of us…

About 45,000 retail stores may close in the coming years as retail’s physical footprint increasingly shifts to serve as fulfillment and distribution centers, UBS analysts led by Michael Lasser said in an April 22 report.

Can you imagine what this is going to look like?

Our landscape is going to be peppered with thousands upon thousands of derelict buildings that have been boarded up to keep criminals out.

Of course some of our core urban areas already have lots and lots of empty commercial spaces that used to be thriving retail locations.

One of the primary reasons why retailers are shutting down so many locations in core urban areas is because shoplifting in this country has risen to unprecedented levels.

According to a recent survey that was conducted by LendingTree, close to a fourth of the entire population admits that they have shoplifted…

Nearly one-quarter of American adults have shoplifted, according to a new survey from LendingTree, the personal finance site. Roughly 1 in 20 consumers have shoplifted within the past year.

Shoplifting is a complicated crime. The motive can range from adolescent rebellion to adult thrill-seeking to hand-to-mouth poverty. Many of us steal things we don’t need and won’t use.

“I’ve learned that a lot of people have given shoplifting a try for lots and lots of reasons,” said Matt Schulz, chief credit analyst at LendingTree.

At this point, shoplifting has become one of our primary national pastimes.

And it is increasingly becoming a “team sport” in many parts of the nation.

On Friday night, a team of approximately 50 teens stormed a 7-Eleven in Los Angeles and completely ransacked it…

A large group of juveniles used “bodily force” to ransack a 7-Eleven store in Los Angeles Friday night, authorities said.

A Los Angeles Police Department spokesperson confirmed to KTLA that about 50 teens descended upon the 7-Eleven at the corner of Olympic and La Cienega boulevards in Pico-Robertson at 7:50 p.m.

The teens, many of whom were wearing masks, forcibly stole property from the store, the spokesperson said.

This particular incident barely made a blip in the news cycle.

Why?

These days, giant mobs loot stores so frequently that this sort of thing isn’t even considered to be very newsworthy anymore.

The thin veneer of civilization that we are all depend upon is disintegrating right in front of our eyes, and our once great country is descending into complete and utter chaos.

If things are this bad now, what will our cities look like once economic conditions become far more painful than they are currently?

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Bank executives can see what is happening, and so they are feverishly trimming costs.

During the first 10 months of this year, banks in the United States closed a total of 2,118 branches…

U.S. banks closed 2,118 branch locations between January and the end of October, according to data from S&P Global Market Intelligence.

Sadly, branches continue to get shut down at a staggering rate.

For example, it is being reported that Bank of America has decided to permanently shut down “nearly two dozen Bay Area branches or ATMs”…

Bank of America has shuttered or plans to shutter nearly two dozen Bay Area branches or ATMs, according to recent filings.

Banks are legally required to report closures to the Office of the Comptroller of the Currency at least 90 days before their scheduled shuttering, so customers will know if they’ll be impacted.

Another way that banks are cutting costs is by laying off workers.

According to Zero Hedge, twenty of the largest banks have combined to eliminate 61,905 jobs so far this year…

A new report from the Financial Times shows twenty of the world’s largest banks slashed 61,905 jobs in 2023, a move to protect profit margins in a period of high interest rates amid a slump in dealmaking and equity and debt sales. This compared with the 140,000 lost during the GFC of 2007-08.

“There is no stability, no investment, no growth in most banks — and there are likely to be more job cuts,” said Lee Thacker, owner of financial services headhunting firm Silvermine Partners.

FT noted that corporate disclosure data and its independent reporting did not include smaller regional bank cuts, indicating total job loss could be much higher.

The banks are not okay.

In fact, I expect the big banks to make lots of headlines in 2024.

Meanwhile, problems continue to pile up for the retail industry.

CNN says that Nike is “a bellwether for the global economy”, and so the fact that the company is planning to cut costs by about 2 billion dollars is not a good sign at all…

Nike, a bellwether for the global economy, sounded a warning sign Thursday as the sneaker giant sees consumers becoming more cautious.

Nike slashed its revenue outlook for the year and announced cost cuts amid growing concerns that consumers are slowing their spending around the world. The company said it’s looking for as much as $2 billion in cost savings in the next three years, which includes laying off employees.

But at least Nike is still in business.

2023 was a year when U.S. retailers closed thousands of stores, and a number of well known chains actually had to file for bankruptcy…

Twenty major retailers axed 2,847 locations between them in 2023, according to Business Insider – as more and more shoppers buy their products online

The issue has been exacerbated by rampant spates of crime which have forced many companies to lock up their products. Earlier this year, Target alone said it was losing as much as $500 million a year to theft.

It is little wonder then that retailers are struggling to cope. Bed Bath & Beyond, Rite Aid and Party City are among the major chains to have filed for bankruptcy in the last 12 months.

Some of you may be thinking that those retailers are hurting because of the growth of the online retail industry.

But online retailers are going belly up too.  For example, Zulily just announced that it will be permanently going out of business…

Online retailer Zulily is shutting down.

The company announced on its website it has made the “difficult but necessary decision to conduct an orderly wind-down of the business.”

Zulily said it will “strive to continue to provide everyone with the best service possible during the holiday season” and it will try to fulfill all pending orders and ensure that orders that could not be filled are canceled and refunded.

Of course the mainstream media will continue to insist that these are just isolated incidents and that the overall economy is doing just fine.

One of the primary reasons why they try to slant economic news in such a positive direction is because most of them are Democrats…

A new study from Syracuse University’s Newhouse School of Public Communications found that just 3.4% of American journalists are Republicans.

The study is based “on an online survey with 1,600 U.S. journalists conducted in early 2022” and is the latest in a series of studies stretching back to 1971 that take the temperature of the fourth estate’s partisan lean, job satisfaction, and professional attitudes.

When the first iteration of the study came out over 50 years ago, 35.5% of respondents said they were Democrats, 25.7% said they were Republicans, and 32.5% said they were Independents.

Since a Democrat is currently in the White House, they want you to feel good about the economy so that you will vote for Democrats in 2024.

But everyone can see that the economy is coming apart at the seams all around us, and most Americans do not have a good feeling about what is coming during the year ahead.

I am entirely convinced that the economic trends that we have witnessed in 2023 will greatly accelerate in 2024. Needless to say, that will not be good news at all.

Sound off about this story on the Economic Collapse Substack.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

The latest example comes from California. Biometrics fintech firm PopID invited scrutiny at a student event at the University of Southern California (USC) campus in Los Angeles after leaving no choice to purchase food inside the venue aside from its facial recognition payment system PopPay.

“[It’s] slightly coercive, because you’re not really being given a choice between normal payment methods and using your face, which is a pretty intimate subject matter,” USC student Vera Wang told student paper The Daily Trojan.

PopID explained that the company was “a paid sponsor of promotional events to market our products.” However, the move has invited questions about PopID’s commitment to privacy and data security.

The company, co-founded and seeded by food and retail conglomerate Cali Group, says it complies with the strictest law in the United States regarding facial recognition data, the Illinois Biometric Information Privacy Act, the student paper notes that its privacy policy states that it “cannot guarantee the security of your data transmitted to our site.”

Privacy advocates issue warnings

Like many other biometric payment companies, PopID has been busy this year, partnering with restaurants such as Steak ‘n Shake, Tyme’s self-checkout restaurant kiosks, and Samsung’s POS kiosks. Similar efforts are being made by Amazon, Mastercard, Clear and JPMorgan Chase. The latter has piloted palm and face-based payments at the Miami Grand Prix Formula One race in May.

January research from Research and Markets supports the idea that consumers can be reassured that biometrics payments are safe. But privacy advocates have raised concerns about the risk of biometric information being stolen by identity thieves or abused by law enforcement agencies, Bloomberg Law reports.

Digital rights group Fight for the Future, for instance, has been organizing an online petition calling on grocery stores not to include Amazon’s palm-scanning technology as a payment option. The group warns that sensitive data could potentially be abused, hacked or stolen.

Cobun Zweifel-Keegan, managing director of the International Association of Privacy Professionals trade group, notes that companies usually don’t keep raw biometric information but instead store a computer’s interpretation of a physical feature, like a set of numbers.

But other experts, such as Jen King, a privacy and data policy fellow at the Stanford Institute for Human-Centered Artificial Intelligence, maintain that hackers or fraudsters could try to combine scans with other pieces of consumer data.

“If I look at an image of a palm, I probably can’t tell it’s you versus me necessarily,” King told Bloomberg. “But that doesn’t say it’s not identifiable, because if it wasn’t identifiable they wouldn’t be using it.”

The U.S. has seen piecemeal efforts to regulate biometric payments, including a state-level bill sponsored by New York State Senator James Skoufis. An earlier request to the Washington State Liquor and Cannabis Board to allow the use of biometrics for age verification for restricted purchases was tanked, according to a board spokesman.

Meanwhile, similar skepticism about the tech is on the rise in other parts of the world.

Australian privacy group warns about biometrics in retail

The Australian Privacy Foundation is warning that increasing CCTV usage in stores is a major concern. The government is also looking into facial recognition tools with the Attorney-General’s Department recently completing a comprehensive review of the Privacy Act, according to the Sydney Morning Herald.

The concerns were sparked with recent investment by Australian supermarkets into surveillance following a surge in shoplifting: Last year it was revealed Kmart and Bunnings introduced facial recognition technology in stores, sparking an investigation by the Office of the Australian Information Commissioner (OAIC).

A more recent subject of controversy is Woolworths. The supermarket chain announced it will invest $40 million on CCTV upgrades, body-worn cameras and other devices. An average Woolworths store has 62 CCTV cameras while self-checkout desks are equipped with six to eight cameras, including an AI system determining whether the correct items are being scanned.

The non-government organization says that while supermarket employees are likely not accessing or analyzing this data, external service providers have this capability. The prospect of the data collected at the supermarket proliferating raises the possibility that biometric technology could be applied to it after the fact, or without customers being aware of it.

“There’s the lack of reciprocity when you have technology like this. You don’t get to know what a company is doing, so you can’t even decide if you don’t want to be paranoid,” says Australian Privacy Foundation Chair David Vaile.

According to Woolworths, stock monitoring cameras record silhouettes of customers or staff, while the self-serve checkout cameras blur faces, blackout PIN pads and are not viewed live. All CCTV footage was stored locally and only accessed by store team leaders and the investigation teams, along with police if necessary, while self-scan checkout footage was stored in Australia.

About the Author

Masha Borak is a technology journalist. Her work has appeared in Wired, Business Insider, Rest of World, and other media outlets. Previously she reported for the South China Morning Post in Hong Kong. Reach out to her on LinkedIn. Article cross-posted from Biometric Update.

Many consumers have already started to notice price changes in their area recently, and while some complain about yet another spike in menu costs, the company is seeing profits go through the roof. The controversial pricing strategy is being followed by multiple fast food and restaurant chains right now as they prepare for a consumer recession and introduce their final price hikes before the economy starts to crater again.

Food industry analysts with NBS revealed that over the past couple of years, Starbucks products faced price hikes of 20% to 30%. And according to the international company’s second-quarter financial report, it looks like lattes aren’t going to cost less any time soon.

The last price increase announced by Starbucks dates to May 6, when it passed along a 20-cent hike on the cost of several beverages. So far this year, it raised prices by an average of 70 cents. In a recent interview, new CEO Laxman Narashiman said Starbucks price increases will moderate from now on. Thankfully, this means that they may not be as high as before. But the bad news is that they’re still happening.

Its latest earnings report cited higher operating expenses such as the rising cost of food, labor, and packaging as a reason why it will raise prices once more in 2023. However, the company’s announcement was met with criticism after people pointed out the decline in global coffee bean prices and other commodities in the past few months.

The company’s earnings report reveals that price increases drove net revenues up 15% year-over-year to a record $8.1 billion in 2022. The coffee house chain reported a 31% increase in profits in the past three months.

According to historian Andy Lewis, Starbucks’ explanation for the impending price increases amounts to nothing more than “word salad to hide corporate greed.” On a similar note, the consumer advocacy group Public Citizen responded with outrage to Starbucks increasing prices for the fifth time after giving its CEO a nearly 40% raise last year. “Corporations are jacking up prices on consumers and using concerns about a recession as cover to do so,” he wrote.

At this moment, many big names in the restaurant industry are doing the same as Starbucks.Part of those added costs may indeed be unnecessary considering how much these companies are making. But the reality is that they can feel that much harder times are ahead of us and they’re trying to better position themselves to fight the recession that is starting to unfold. The restaurant business is the first to go down when a major economic downturn hits. That’s what happened during the pandemic when thousands of locations were shut down due to collapsing sales. A similar fate seems to approaching us, and those who didn’t come up with a plan won’t survive the storm.

Article and video via Epic Economist.

OPEN LETTER from a San Francisco legacy business. This letter, a full-page newspaper ad published today. It summarizes what majority of residents lament. pic.twitter.com/2WlcSHTrxR

— Richie Greenberg (@greenbergnation) August 13, 2023

Addressing Governor Newsom, Mayor Breed, and the San Francisco Board of Supervisors, Chachas expressed concern over the current state of the city. He lamented the erosion of San Francisco’s livability and voiced apprehension that the iconic Gump’s could be facing its last holiday season at 250 Post Street after 165 years of operation.

Chachas pointed out that San Francisco has fallen victim to a “tyranny of the minority,” where the actions of a few jeopardize the livelihood of the majority. He emphasized the detrimental effects of COVID policies advising people to work remotely, as well as the numerous destructive strategies employed by the city. These include allowing the homeless population to occupy sidewalks, openly distributing and using illegal drugs, harassing the public, and defiling the streets.

The CEO argued that such a disregard for civilized conduct has rendered San Francisco unlivable for its residents, unsafe for employees, and unwelcoming to visitors from around the world. Earlier this year, it was reported that the city alone had over 7,754 homeless people, with approximately 4,400 of them sleeping on the streets, in tents, or in vehicles.

Chachas called upon the Governor, the Mayor, and the City Supervisors to take immediate action. He urged them to clean the city streets, remove homeless encampments, enforce city and state ordinances, and restore San Francisco to its standing as one of America’s shining beacons of urban society.

While expressing support for compassionate efforts to help those in need, Chachas emphasized the need to abandon failed public policies and refocus on restoring the city. He closed the letter by reaffirming the commitment of San Franciscans to Gump’s and their love for the city, while urging city leadership to find their way back from their current path.

Chachas has previously spoken out against city leadership for the rise in rampant crime in 2021. He expressed concerns that the deteriorating environment posed challenges for businesses and discouraged visitors from coming to the city. Despite these challenges, Chachas emphasized that Gump’s remains open and ready to welcome visitors, other San Franciscans, and patrons who hold the city dear. However, he firmly stated that the current leadership of the city has lost its way.

Article generated from corporate media reports.

According to a Morgan Stanley analysis, Amazon accounts for almost a third of all retail sales and is responsible for half of the growth in the sector.

From household products to electronics, clothing, and groceries, everything is available on the platform, and that’s a huge advantage for the company. However, that is absolutely killing other brands that have been with us for decades, and many of them are at risk of going under this year amid a new wave of retail bankruptcies.

The megaretailer has been blamed for the downfall of major chains, forever changing the way we shop, and crushing millions of small businesses. But the truth is that the path to total Amazon domination is just beginning. One investment firm has even created a “Death by Amazon” index that tracks the stock prices of retail chains they believe are most threatened by the online retailer.

In 2017, the company at the top of the index was Toys R Us. Back then, the retailer was offering discounts to customers in an attempt to attract them back after Amazon made it all too easy to buy the hottest toys at the click of a button. But still, sales continued to decline by double digits, and in September of that year, the company filed for bankruptcy due to the $5 billion debt it had accrued.

Every year since then, the index has accurately forecasted which companies will be knocked down by Amazon, even predicting the demise of JPMorgan in 2020, and more recently, the collapse of Bed, Bath & Beyond. This year, many retail giants are reporting dropping sales, slower foot traffic, declining revenues, and announcing store closings. Hundreds of brick-and-mortar retailers are currently on Moody’s bankruptcy watchlist.

Blue Apron is one of them. Data shows that since Amazon’s acquisition of Whole Foods, Blue Apron has been hanging by a thread. Since 2021, the company is on a bankruptcy watchlist, and the non-essential service is likely to get hit hard as the downturn unfolds.

Macy’s is also seen as another potential victim of the ‘Amazon effect’ in 2023. The department store has been declining for a while, and Amazon’s growth has hastened its downfall. Hundreds of Macy’s stores have disappeared since the pandemic, sales are down, and the outlook remains discouraging for the retailer.

Retail experts suggest that the biggest bankruptcy of the year was also fueled by Amazon. For years, Bed Bath & Beyond was struggling with falling profits, and the home furnishing sector has been feeling the squeeze since the e-commerce company started offering free shipping to many shoppers. In April, the brand filed for bankruptcy and closed 360 stores nationwide.

All of this shows that the impact of the Amazon Effect has been undeniable. Amazon is putting its flag in the ground in one industry after another, cementing its role as the global leader in virtually everything.

Many companies are now gone, due in part to pressure from the online retailer that’s upended the American retail landscape. And if others figure out a solution fast, they might be the next stores destroyed by Amazon.

Article and video cross-posted from Epic Economist.

Right now, middle-class workers are coping with the highest cost of living in decades, and many of them can no longer afford to shop at Walmart and are flocking to discount stores instead. In fact, the chain’s CEO Doug McMillion revealed that 75% of Walmart’s new customers are upper-income Americans, who make over $100,000 a year. That indicates there’s something extremely wrong with the American middle class right now.

This group is known worldwide for its purchasing power and economic strength, and for years, it actively contributed to the growth of the megaretailer. The most notable revelation comes from a new study that exposes Walmart has everything to do with the decline of the US middle class.

Despite reporting a 7.33% profit growth. the world’s biggest retailer is warning about weaker sales volume for the rest of 2023 and shared a gloomy forecast last month, noting that abnormally high food inflation is likely to drive away low and middle-income shoppers from its stores. According to an analysis by GOBankingRates, over the past 12 months, grocery prices have risen at Walmart stores by an average of 27.2%. The biggest increases happened in the meat category, followed by produce, and dry goods.

During the past three quarters, most of Walmart’s growth in the grocery segment was fueled by customers with annual household incomes higher than $100,000 the company’s chief financial officer John David Rainey told CNBC.

Meanwhile, inflation has prompted middle-class shoppers to rethink their consumption strategies. Over the past couple of years, many Americans started to feel substantially poorer whenever they shop for groceries or hit the gas pump. Data released by the Pew Research Center shows that 71% of middle-class workers say their incomes aren’t keeping up with the rising cost of living, and now these consumers are currently looking for value to save money.

The Wall Street Journal reported that average spending on grocery products at discount chains increased 71% from Oct. 2022 to June 2023. The survey also revealed that dollar store sales went up by 14% in the past quarter.

The truth is that this company we’ve grown to love has done a lot to destroy the American middle class. “Walmart’s history is the story of what has gone wrong in the American economy. Wages have stagnated. The middle class has shrunk. The ranks of the working poor have swelled. Whatever we may have saved shopping at Walmart, we’ve more than paid for it in diminished opportunities and declining income,” Mitchell stresses.

At this point, it’s clear that this group is losing access to the empire they helped to create. In many ways, Walmart’s ascension led to the collapse of the US middle class, and as the retailer attracts shoppers with a lot more money to spend, they no longer seem to care about the needs of everyday Americans, who are still the backbone of our entire economy.

Article and video cross-posted from Epic Economist.

Never before in history have conditions have been so turbulent for companies, and even big names like Rite Aid, Amazon Fresh and Big Lots! are taking extreme measures to try to keep their business alive. However, retail experts seriously doubt the ability of some of this chains to survive the imminent retail collapse.

For example, Best Buy has been hanging by a thread over the past few years and quietly closing more stores each year. Since 2019, over 80 Best Buy locations have disappeared from sight. And earlier this year, the chain announced plans “to close a higher number of stores.” The company did not reveal the total number of closings.

Media reports suggest that at least 600 locations are in financial distress. That is over half of the retailer’s footprint in the U.S. In a BizJournals.com article, Best Buy CEO Corie Barry predicted that supply chain issues, rising labor costs, and continued economic challenges could lead to a major manufacturing slowdown that could ripple through the markets, she said. Best Buy executives said they expected business to continue to taper. Right now, they’re putting their best strategies forward in an attempt to keep the business alive, or at least, part of it.

Similarly, Dollar General is rapidly disappearing from U.S. cities. The discount retailer recently confirmed that it is closing several locations in California, Colorado, Indiana, and Ohio. And the reason may also be the catalyst that drives the entire chain into bankruptcy. According to the U.S. Department of Labor’s Occupational Safety and Health Administration, Dollar General continues to expose workers to unsafe conditions.

The U.S. Department inspected a large number of locations and cataloged many serious health safety violations Dollar General has refused to correct. Since 2017, OSHA has issued more than $15 million in fines and cited Dollar General in more than 180 inspections nationwide for numerous “willful, repeat and alarming workplace safety violations related to unsafe conditions.”

“Exposing employees and others to these hazards can be dangerous, especially in an emergency,” said OSHA Regional Administrator Kurt Petermeyer in Atlanta. “Dollar General is well aware of federal requirements, but they continue to ignore their legal responsibilities to protect their employees at stores throughout the nation.”

The struggling company is now facing another millionaire lawsuit – one that can literally push it over the edge.

At this point, retailers must prove their worth to U.S. customers and show why they deserve a spot in this increasingly competitive industry. Only the best-positioned brands will be able to navigate through the crisis that is developing across the sector, and many will likely die out before the year ends.

The stakes are incredibly high, and no one knows what may happen next in the industry, so take the opportunity to go to your favorite store before a black swan event occurs, drastically changing the scenario from bad to completely disastrous. That’s why in today’s video, we compiled a series of retail stores that are at risk of going dark for good in the coming weeks and months, and some that are already liquidating all of their assets and saying farewell for their customers.

Here’s the list:

1. Big Lots!
2. Rite Aid
3. Bed Bath & Beyond
4. Party City
5. Dollar General
6. Tuesday Morning
7. CVS
8. Amazon Go and Amazon Fresh
9. Nordstrom
10. Best Buy
11. The Children’s Place
12. Corner Bakery
13. Mattress Firm
14. Kirkland’s
15. Express

Video and write-up cross-posted from Epic Economist with minor edits.