ICSC Says 144,000 Stores Will Close This Year

New York, NY, July 17, 2008–Retail real estate trade group International Council of Shopping Centers expects 144,000 stores to physically close in 2008.

That number would a 7 percent increase over 2007 — the highest increase in 14 years.

ICSC says it also expects “a similarly large increase in new retail store openings” this year.