Apr 15, 2017
Conway Take Heed: Retail in Distress
Conway has bet its future on income from sales tax to pay its ever-growing debt. Now retail is showing more and more signs of trouble.
Retail watchers say a shakeout among retailers that “has been building for years is now arriving in full force.”
Payless ShoeSource is the latest to file for Chapter 11 bankruptcy while big-name Ralph Lauren is “shuttering its flagship Polo store, a foot-traffic magnet located on tony Fifth Avenue in Manhattan, the latest step in a massive cost-cutting effort. Big-box office supplies stalwart Staples saw its stock price jump on reports it is considering putting itself up for sale.”
This (more from Oregon Live) is just the latest bad news from the retail industry, which is taking a beating from online shopping.
Conway should take heed — although it may be too late. The city has already incurred its debt for building overpasses to nowhere (although even more new retail shopping is just next-door on the interstate).