Red Lobster shutters dozens of locations across the US without warning
Inflation and the economy remains a top issue among all voters, according to a recent The Center Square Voters’ Voice Poll.
Out of the 3,200 being closed, the majority are being closed by roughly 30 retailers, with Family Dollar closing the most of over 600, according to the data,Tupperware is the latest to announce it’s permanently closing its last operating production plant in the US in Hemingway, South Carolina. The Pittsburgh-based retailer was in $200 million worth of debt and is laying off all of its 4,900 employees because of “under-performing retail locations … inflation and macroeconomic headwinds,”The California-based discount retail chain 99 Cents Only filed for bankruptcy in April because “the last several years have presented significant and lasting challenges in the retail environment,”The teen apparel retail chain, Rue21, was in $200 million worth of debt, filed for bankruptcy last month,...
Food inflation has been evidenced the most by higher prices and smaller portions, otherwise known as shrinkflation, The Center Square first reported on in 2022.
US News Business Inflation Layoffs Store Closings Swing States 2024
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