Important Takeaways:

• RIP Beverly Hills: 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
• 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…
• 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.
• 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.

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