Thursday, June 18, 2009

Mass Retailer Exodus of Detroit, Michigan?

It's no secret that motor city has fallen on hard times, but it appears that the next shoe is dropping hard for the beleaguered city as major retailers are packing up and leaving Detroit, Michigan in droves. According to the Wall Street Journal, the last Borders in the city has finally closed its doors and there only four remaining Starbucks outlets in the entire city of Detroit.

The city's unemployment rate is well over 20%, with nearly a third of the city's citizens relying on a state sponsored food program.

Full Story:

Wall Street Journal

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