U.S. retailers face bankruptcies and store closures due to inflation and high interest rates.

U.S. retailers face bankruptcies and store closures due to rising inflation and high interest rates, causing a surge in bankruptcies amid the struggling industry. Notable retailers such as Bob's Stores, Rue21, and 99 Cents Only Stores have filed for bankruptcy or closed operations recently. The U.S. Labor Department reported a 3% increase in the consumer price index (CPI) in the 12 months through June.

July 11, 2024
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