"Look at the number of retail chains that have had to close their doors. I am not sure how much was due to competition or how much was on consumers who over extended their credit and defaulted on their payments. This would cause these chains to lose money." I believe that even though the credit situation paid a major role in the number of retail chains going under, I believe that so much completion was around that not all of the chains were able to stay open due to the numbers.Explain© BrainMass Inc. brainmass.com June 3, 2020, 10:42 pm ad1c9bdddf
Even though the credit situation did play some part in retail chains going under, most of the reason for such closures is that the economy was worse causing people to spend less and thus some retail chains just could not keep their doors open. The credit crisis mostly ...
The credit situation and the downfall of retail chains explained.