Yesterday the Atlantic ran a piece on the Great Retail Meltdown of 2017 which, to summarize, tied the present culling of the retail herd to three phenomena: the rise of online shopping; a half century of overbuilding retail space; and the present shift in spending from goods to experiences.
In short, with people increasingly getting their everyday stuff online and valuing an interesting meal with friends over a trip to the mall to get a Hollister sweater, our overly abundant providers of commercial goods are taking a beating.