Startling video shows how once-thriving shopping mecca is now a desolate wasteland as high-end shops, banks, and restaurants shutter their doors amid economic woes and crime A new video documenting the growing number of high-profile stores in Beverly Hills that have closed recently, places renewed emphasis on the crisis facing the retail sector in most major cities.
The video, posted by an account called cody90210, shows some 11 popular Beverly Hills retail stops now entirely shuttered, including the iconic former Barneys location, Brooks Brothers, All Saints, and the high-end women's fashion boutique Escada. Both Escada and Barneys filed for bankruptcy in recent years.
The closed shops, which also include convenience retailers like Rite Aid and Chipotle, and even popular workout class option SoulCycle, have shuttered their doors on Wilshire Boulevard, leaving the area bereft of its former appeal. Their sad decline marks a departure from the area's lengthy heyday, which even saw band Weezer pen a song with the lyrics 'Beverly Hills, that's where I want to be.'
The reasons for the ample number of closures vary, as many brands see a decrease in demand for in-person retail experiences, while others pivot business strategies following acquisitions by other brands. The downturned economy has also negatively impacted most brands, but especially those marketing luxury products.
While stores lining Wilshire Boulevard were once popular spots for celebrities of the moment to have their pictures captures and circulated by paparazzi, the relevance of that type of media coverage has dwindled in the age of social media.
Businesses in Beverly Hills, and Los Angeles in general, are also in the midst of contending with a major spike in crime that has left many stores defenseless against mobs of robbers.
Poster Comment:
Video only at source