Retailers have had a relatively quiet second half of 2011 when it comes to closing stores, but the industry experts Retail Traffic talked to recently see things getting dire again in the next six months. The holiday shopping season isn't expected to bring much joy and the jobs market isn't robust enough to stave off the addition of more empty spaces.

“In 2012, I think you are going to see more small specialty stores closing, you will continue to see restaurant chains struggling and see old c-store formats starting to vacate as well,” says Andy Graiser, co-president of DJM Realty, a real estate consulting and advisory firm that specializes in restructuring and disposition. “Middle America shows no signs of recovery and seems to be more concerned with spending [its] disposable income on mortgage and car payments and putting food on the table.”