Former Toys ‘R’ Us CEO Gerald Storch warned on Wednesday that in the fall “we’re going to see record bankruptcies in retail” for small businesses and some chains.
He stressed that he believes mom-and-pop stores will experience a “decimation” of mom-and-pop stores on Main Street, but that “those chains that have been struggling for years strategically and never got it right” are also “going to have big problems as we round the bend here after the holidays.”