THE INTERPRETER: The Retail Industry Is at Its Breaking Point | Retailers have now closed more than 3,200 stores since the start of the year… At this rate, the industry will close 8,000 stores this year. That would blow past the 6,200 stores that shut down in 2008…at the height of the global financial crisis. Not only that, 14 US retailers have already filed for bankruptcy this year. At this rate, 52 retailers will go bankrupt this year. That would be the most in at least seven years.