NEW YORK (AP) — When big retail chains close stores, it can be a blow or a blessing for small businesses located near the shuttered merchants.
Some small companies including retail competitors or junk haulers can pick up business. Aric Shlifka, the owner of Kiddles Sports in Lake Forest, Illinois, says many shoppers gravitate to a smaller store when one of the big players shuts down. The demise of the Sports Authority last year has contributed to a 5 percent increase in business for him since then.
But some businesses can see sales suffer when a big nearby retailer that has been a shopper magnet disappears.
Yogibo, which sells casual furniture, says it had to work harder to make itself more visible to shoppers after Sears vacated parts of its stores in some malls.
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