Another Retail Bankruptcy Wave Is on the Way, Credit Suisse Says
- Filings, store closures may hurt rents and vacancy rates
- Key CMBS indexes may fall further in 2018 as sector struggles
The Death of the Department Store
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A wave of store closings and retailer bankruptcies is coming in early 2018, as the industry deteriorates faster than analysts had expected a year ago, according to Credit Suisse Group AG.
The retail business’s “large and undeniable transformation” will crimp rents and vacancy rates this year, strategists Roger Lehman and Benjamin Rozyn wrote in a note Thursday. Bonds backed by these loans will likely weaken, they added.