ICSC Says 144,000 Stores Will Close This Year

New York, NY, July 17, 2008--Retail real estate trade group International Council of Shopping Centers expects 144,000 stores to physically close in 2008.

That number would a 7 percent increase over 2007 -- the highest increase in 14 years.

ICSC says it also expects "a similarly large increase in new retail store openings" this year.