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Rise in Store Closings Expected in Manhattan

According to New York Real Estate Brokers, the number of stores opting to shut down may increase in the city because of the most dismal holiday shopping season this year. This is because of the economic recession that has engulfed the entire country and has shown a negative impact on business of all kinds. However, the experts are optimistic about the market for retail space in Manhattan and expect it to fare better than the national market. According to industry experts, the months of February and March would see a further rise in the pace of store closings. Since the beginning of new year, many stores in Manhattan have closed down, chief among them are Steve and Barry's Store, KB Toys Store, Starbucks Coffeee Company, Ann Taylor and many more.

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