Time has a story on national retailers this shopping season and it offers a mixed bag for the national chains.

“By the end of 2009 the number of retail players will be down by at least 25% and could be down by as much as 40%,” says Britt Beemer, chairman of America’s Research Group, a consumer research and marketing firm based in (Charleston). “I expect the number of bankruptcies next year to be more than we’ve seen in the last five years combined.”

“In the first six months of next year there will be a lot more retail museums than retail stores,” says Beemer.

The lay of the land for King Street chains? Nationally speaking, Victoria Secret and Urban Outfitters are looking good. Saks Fifth Avenue and Talbots are, well, the words “devastating” and “troubled waters” are used.