-Disney has helped to shape the American culture. Over the years, a Disney store has become an institution – a symbol for middle-class families living the dream. However, today, it looks like the Magic Kingdom is crumbling down. The largest share of Disney’s public – middle-income households – are struggling to afford Disney tickets, products, and streaming services, and that is putting the company in a very complicated financial situation.
With expenditures surpassing profits, the entertainment giant is now dealing with some billionaire losses that are leading to mass layoffs, business shutdowns, and an internal reorganization as it tries to survive the storm.
CEO Bob Iger is warning about major challenges for 2023, and millions of fans will likely be devastated to lose their local Disney stores in the months ahead-
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