.... Faced with a decline in sales and a rise in already exorbitant rents, boutiques, galleries, and even chain stores are shuttering shops up and down what is considered Boston's most desired retail address. The exodus of exclusive merchants from the shopping district has proceeded in a steady drumbeat of sudden departures....
The rash of recent closures follows one of the worst holiday seasons in decades as consumer spending slowed significantly. Retailers across the country are slashing expenses and shuttering stores. But to retail analysts and local merchants it is shocking to see such a rapid pace of departures from a prime location such as Newbury Street....
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