Retail Theft on the Rise, Leading to Empty Storefronts

Retail theft has surged in major cities across the US, resulting in billions of dollars in losses and the closure of numerous businesses. In New York City, retail thefts have increased by over 6.5% this year, with some stores reporting being on the brink of closing due to rampant shoplifting. The crisis is not limited to New York, as cities like San Francisco, Chicago, and St. Louis are also grappling with high theft rates. The consequences extend beyond financial losses, with abandoned buildings becoming hubs for crime and blight, further deterring foot traffic and exacerbating the problem.

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