Friday, May 6, 2022

34% Of Retailers Couldn't Make Rent In April, New Survey Shows

Despite the fact that consumer spending is expected to rise this year, retailers are having a hell of a time trying to pay the cost of their rising rents. 

In fact, according to a new report by Bisnow, 34% of small retail businesses were unable to make their rent in April. This number was up 6% from February, the report says, citing survey data from Alignable.

Among reasons for not being able to meet their financial obligations, retailers noted inflation, gas prices, supply chain issues, labor shortages and reduced revenues.