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Is the Store-Closing Tsunami Over?

First-quarter store closings were way down from the same year-ago period.

By Ian Ritter | Updated on May 13, 2011

Announced store closings were down 36% in the first quarter from the same year-ago period, making us think that a lot of weaker retail concepts are getting weeded out. Retailers said plan to close 1,791, according to a report put out by ICSC and PNC Real Estate Research.

Of those closings, 37% are by Borders, Charming Shoppes and BCBG Max Azaria‘s Max Rave chain. More than 1,600 of the closings account for stores selling general merchandise, apparel and other specialty items.

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