Grocery Store Turmoil in Chicago
Bankruptcies don’t help. Even the big chains are closing stores.
The grocery store sector is never static. Some stores close, others open. But in Chicago, 25 stores closed over the past 24 months due to bankruptcies or operational reasons, and only 16 stores have opened, producing “an alarming loss” of 545,000 square feet of grocery store space.
This includes five independent grocery stores that closed, while only two new ones opened, bringing their total down to 43 stores. Their market share, based on square footage, declined to just 7%. This is “not a positive sign for improving the food deserts where these grocers penetrate more regularly,” according to Mid-America Real Estate’s biennial Urban Grocery Study.
And the average store size shrank, as the stores that were closed averaged 38,000 square feet, while the stores that opened or are planned average 25,000 square feet.
The study covers the period from September 2015 to August 1, 2017, in an urban area of 3.2 million residents with 262 operating or proposed grocery stores of more than 10,000 square feet in size.
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http://wolfstreet.com/2017/08/16/grocery-store-turmoil-in-chicago/
image from Michael Snyder and originally published at The Economic Collapse.
Thank you!
Illinois seems to be the canary in the coal mine for this upcoming recession, thanks for helping us keep an eye on the situation!
Recession, I believe we have been in a Depression, the economic numbers are worse in many categories then 1929. First it was 2008, then 2000, now some numbers are being compared with 1929. It's a recession when the neighbor loses their job, it's a depression when I lose my job !!!!1
Fair point, I'm thinking crash when I said recession there. We are in big trouble economically and it's only getting worse, all the quantitative easing is just a small finger in a dike that's sprung too many leaks! Thank god we've got our silver!
Eventually, there will be a time to trade that silver for real estate, income producing assets which have dropped 80% +/- 10%. Trade a kilo bar of silver for a Ferrari. SWEET..............
I keep hearing whispers in the dark corners of the alternative economic community that silver may outperform gold! That's what I'm hoping for! I'll take some land on the way, too 👍👍
Sorry, I'm late to the conversation. I can not disagree with anything that has been said. Things a really bad! I do believe that silver is the best protection but there are no rules today so we just hope for some sanity at some point. If things do not change the problem will be living long enough to take advantage of your stacks. As far as Chicago is concerned it is and has been a criminal enterprise from it first day and now most of the country is following their lead.
Chicago's pretty representative of the paradigm I hope we shift away from. For too long we've allowed the system to thrive in its rottenness . I do hope I get to see the value of silver find it's way up though the muck and darkness but I'm not betting on it to happen tomorrow. The system sure is rigged in favor of the corrupt but I feel we'll have the last laugh sooner or later!
We may have the last laugh but we have to survive to get to that point. The system is not only rigged and corrupt but it is evil. You know that they will kills us all to keep their power. Thanks you Timi Twist for always being here.