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  • Nationwide Store Closings

    Just thought I'd share this ........

    Nationwide store closings

    Guess we had better be very careful of gift certificates this Christmas. Just in case you have them, use those Gift Certificates or you may lose them


    Ann Taylor closing 117 stores nationwide. A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month

    Bombay Company: (Freehold Mall store closed) The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online
    storefront has discontinued operations.

    Cache closing stores. Women's retailer Cache announced that it is closing 20 to 23 stores this year.

    Circuit City closing stores.

    CompUSA (CLOSED) clarification: Extended warranties purchased for products through CompUSA will be honored by a 3rd party provider, Assurant Solutions Gift cards, rain checks, and rebates purchased prior to 12/12 can be redeemed at any time during the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners. http://www.news.com/8301-10784_3-9834177-7html

    Dillard's to Close More Stores. Dillard's Inc. said it will continue to focus on closing under performing stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another six under performing stores this year.

    Disney Store owner has the right to close 98 stores. The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's Place filed for bankruptcy protection in late March. Walt Disney, in the news release, said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.

    Eddie Bauer to close more stores. E Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.

    Ethan Allen Interiors: The company announced plans to close 12 of 300+ stores in an effort to cut costs.

    Foot Locker to close 140 stores. In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment

    Gap Inc. closing 85 stores. In addition to its namesake chain, Gap also owns Old Navy and Banana Republic . The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.

    Home Depot store closings. (E. Brunswick, Rt 18 just put up their closing sign) ATLANTA - Nearly 7+ months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc.announced that it is shuttering 15 of them amid a slumping U.S. economy and housing market. The move will affect 1,300 employees. It is the first time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the under performing U.S. stores being closed represents less than 1 percent of its existing stores. They will be shuttered within the next two months.

    KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. To see the list of store closings, go to the KB Toys Information web site, and click on Press Information

    Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide. The owner of retailers Lane Bryant , Fashion Bug , Catherine's Plus Sizes will close about 150 under performing stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.

    Goodbye Levitz / BOMBAY - closed already. The furniture retailer, which is going out of business. Levitz first announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910 when Richard Levitz opened his first furniture store in Lebanon , PA. In the 1960's, the are house/showroom concept brought Levitz to the forefront of the furniture industry. The local Levitz closures will follow the shutdown of Bombay .

    Linens & Things closing all stores.

    Macy's - 9 stores

    Movie Gallery - 160 stores as part of reorganization plan to exit bankruptcy. The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.

    Pacific Sunwear - 153 Demo stores

    Pep Boys - 33 stores

    J. C. Penney, Lowe's and Office Depot are scaling back

    Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand. Seventy-four under performing Demo
    stores closed last May.

    Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close..

    Sprint Nextel - 125 retail locations. New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter Sprint will be cutting a total of 6.7% of its work force (following the 5 000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas . Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.

    Talbot's, J. Jill closing stores. About a month ago, Talbot's announced that it will be shuttering all 78 of its kids and men's stores. Now the company says it will close another 22 under performing stores.. The 22 stores will be a mix of Talbot's women's and J. Jill , another chain it owns The closures will occur this fiscal year, according to a company press release.

    Wickes is going out of business. Wickes Furniture is going out of business and closing all of its stores, Wickes, a 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month. They have already closed the Minnesota stores.


    Wilsons the Leather Experts - 158 stores.

    Zales, Piercing Pagoda closing stores. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.

  • #2
    Re: Nationwide Store Closings

    You know what...I think it's what the country needs! I think we NEED to scale back, go back to simpler times, less "management", more "customer service", better competition. I have HAD IT with big business knocking out the little mom&pops and then over-extending, going under, asking the government for a lifeline, then spending all the tax-payers money on corp muckity-mucks pensions.

    Off my soapbox

    Comment


    • #3
      Re: Nationwide Store Closings

      The stores in the mall will soon be an empty place to shop. Yes, be careful if you buy gift cards, you never know it the store is still going to be there. Also goes for resturants too. What makes me sad is all the employees will be loosing their jobs too. Where are they going to go?

      Comment


      • #4
        Re: Nationwide Store Closings

        I don't agree about it being what the Country needs. I think it's sad because each closing affects so many like a ripple in a pond. I pray for this Country each night and I think things will get much worse.

        Comment


        • #5
          Re: Nationwide Store Closings

          Heard that this may take a good 5yrs til we see some relief but most people are having problems now and 5yrs will be a long time for them to wait. On our local news last Friday, someone grabbed 3 ladies purses in different parking lots, all 3 ladies described the man & car seems it was the same guy. I think they will find him. I hope crime doesn't get worse.

          Comment


          • #6
            Re: Nationwide Store Closings

            Now it's not only the stores that are going bankrupt but the entire mall. I really do think we will hit depression before we bounce back.


            Also, don't buy items expecting rebates:

            Rebate processors now going bankrupt.

            http://enthusiast.hardocp.com/article.ht...

            List of companies that could be affected:

            ACRONIS SOFTWARE (TRUE IMAGE)
            ACTIVISION
            ADVANCE AUTO PARTS (Parts America?)
            ANTEC - Called Antec and they are having problems. Said not to cash ! Antec CSR number 1-800-222-6832, Press 1
            AVG
            BED BATH & BEYOND
            BIC CORPORATION US - Shaver Division
            BFG
            BRIDGEVINE
            CANON says DO NOT CASH http://www.usa.canon.com/consumer...ebat... edit atene
            CHECKER / SCHUCK'S / KRAGEN Auto Parts
            CITIBANK
            COSTCO (COSTCO email says don't cash at bank, take it to a COSTCO and they will CASH it. If you prefer to receive by mail call 1-866-355-3137)
            DELORME
            FUJITSU
            JOE'S SPORTS
            HOME DEPOT
            LOGITECH
            MOTOROLA (SURFBOARD MODEM)
            MURRAY'S DISCOUNT AUTO PARTS (oil)
            NATURE'S EARTH (cat litter)
            NERO
            NEWEGG (certain products have rebates from newegg directly e.g. TATUNG, ROSEWILL)
            PANDA DISTRIBUTION
            PANDIGITAL
            PC TOOLS
            PRICEGRABBER - Don't Cash Check (Even older ones you haven't cashed in yet)! Will Send out New Rebate Check Directly
            ROSEWILL (NEWEGG)
            SAMSUNG
            SMITH MICRO SOFTWARE (ANONYMIZER)
            SPOT (Satellite beacon)
            TABLETOPS UNLIMITED
            TRENDNET
            WESTINGHOUSE
            XFX
            XM SATELLITE RADIO
            ZEROTHERM
            ZYXEL

            http://www.bizjournals.com/tampabay/stories/2008/11/10/daily66.html

            Comment


            • #7
              I read that Service calls to law enforcement agencies increase for a number of social reasons relating to economic downturn. In particular, there tends to be more domestic violence and family problems.
              People who are really strapped might do something criminal they might not otherwise do.
              Companies have seen a steady increase in employee theft, and experts are pointing their fingers at the main cause: the flailing economy, USA Today newspaper reported last month.

              Add Sears to the list. Sears will close eight stores, including a Great Indoors store in Schaumburg, in February, in addition to 12 other stores it had previously announced it would close early next year due to poor sales.

              Stores at Risk
              Pier 1
              Tuesday Morning Corp
              Blockbuster Inc.
              Rite Aid Corp.


              Wachovia (WB) trades near a 52-week low at $19.76 down from its period high of $54.54. Huge mortgage exposure after buying Golden West Financial Deal may have lost Wachovia CEO his job. As one analyst said "We view Wachovia's announcement this morning to remove CEO Ken Thompson as a sign that more bad news will be forthcoming." WB can't take mortgage write-offs forever.

              American Airlines (AMR) shares have fallen from over $29 to just above $6 during the last year. In the most recent quarter, the company had an operating loss of $187 million and interest expense of $194 million. Long-term debt was over $8.7 billion. Company forecasts fuel expense could rise $790 million over the next year.

              United Airlines (UAUA) was recently described as an operational mess, and the "worst of the worst" by Portfolio. Shares are off from a 52-week high of $51.60 to $8.25. Like all airlines United faces the potential of a sharp drop in traffic if the economy worsens. In its latest quarterly filing, the airline shows fuel costs up 50%. United's loss from operations was $441 million. Debt service payments hit $135 million.

              Northwest Airlines (NWA) has watched its stock fall from $24.25 to $6.94. The company is hoping its purchase of Delta will help it save costs. But, it is not clear that its unions will go along with personnel cuts or that the merged company can cut a great deal more capacity. Long-term debt of $6.5 billion and running an operating loss.

              Delta Airlines (DAL) shares are down 60% this year. A merger with Northwest will not help combat the rising price of oil. Long-term debt and capital leases stand at almost $8.4 billion. Company says fuel prices were up almost $1 a gallon last quarter to $2.85. That number could go much higher.

              General Motors (GM) trades below where it did in late 2005 when analysts were concerned about a bankruptcy. Lehman recently said GM "needs to raise about $9 billion over the next two years to refinance debt, and may seek more for operational cash burn as it faces production headwinds and commodity price increases."

              Ford (F) may be only slightly better off than GM because it seems to be willing to cut costs beyond the bone. It recently took another 15% out of salaried costs. Kirk Kerkorian may like Ford, but the car-maker's most important line is its pick-ups. Last month, sales of is flagship F-series truck fell 31%. How long can the company survive that?

              AIG has dropped from a 52-week high of $72.91 to $34.28. Large investors are trying to push the CEO out and regulators are looking over how the company valued its mortgage contracts. That is not the worst of it. Citigroup recently wrote that "the insurer's recent offerings that raised $20 billion in capital are insufficient and that its financial position may worsen." The shoes aren't done dropping.
              Last edited by SouthernCookn; 11-17-2008, 01:05 AM.

              Comment


              • #8
                Re: Nationwide Store Closings

                Originally posted by Sewcute View Post
                You know what...I think it's what the country needs! I think we NEED to scale back, go back to simpler times, less "management", more "customer service", better competition. I have HAD IT with big business knocking out the little mom&pops and then over-extending, going under, asking the government for a lifeline, then spending all the tax-payers money on corp muckity-mucks pensions.

                Off my soapbox
                Real customer service would be a welcome come back... it's disappeared... but then so have customer's manners... it's sad.
                "What fresh hell is this?" Dorothy Parker

                Comment


                • #9
                  Re: Nationwide Store Closings

                  I really feel that we have let these corporate heads dictate what our futures will be. They get all the money, and we are left holding the tax bill. NOT ONE of those "heads" walked away thinking about HIS future...they ALL have VERY cushy packages, benefits, buy-outs, several houses, stocks, etc. Meanwhile the "worker" has trouble with getting a meal on the table. These guys have taken risks with OUR money and labor and now it's showing.
                  Same with insurance companies... the more claims you put in the higher your cost is

                  What has happened to the Home Visit Doctors? What has happened to Mrs Mabels corner lunchonette? What has happened to the American dream?

                  This will last (and get worse) for a few years, while America "re-structures". Just like an corporation... there needs to be a shuffle now and again. It IS sad.

                  Comment


                  • #10
                    Re: Nationwide Store Closings

                    Jana, I was juuust thinking that yesterday as I walked by a still-open Circuit City. Who would shop there now?
                    I don't want buns of steel. I want buns of cinnamon !!!

                    Comment


                    • #11
                      Re: Nationwide Store Closings

                      Originally posted by Chocolate Moose View Post
                      Jana, I was juuust thinking that yesterday as I walked by a still-open Circuit City. Who would shop there now?
                      We went there last night... thought we'd get a good price on kids PC games or something. Prices are NOT that good! One of the "salesman" started chatting up DH, asking if DH knows of any jobs at his place, or seen any signs along the road... DH didnt even KNOW this guy!

                      Very sad

                      Comment


                      • #12
                        Re: Nationwide Store Closings

                        Originally posted by Sewcute View Post
                        I really feel that we have let these corporate heads dictate what our futures will be. They get all the money, and we are left holding the tax bill. NOT ONE of those "heads" walked away thinking about HIS future...they ALL have VERY cushy packages, benefits, buy-outs, several houses, stocks, etc. Meanwhile the "worker" has trouble with getting a meal on the table. These guys have taken risks with OUR money and labor and now it's showing.
                        Same with insurance companies... the more claims you put in the higher your cost is

                        What has happened to the Home Visit Doctors? What has happened to Mrs Mabels corner lunchonette? What has happened to the American dream?

                        This will last (and get worse) for a few years, while America "re-structures". Just like an corporation... there needs to be a shuffle now and again. It IS sad.
                        Suze Orman said a few weeks ago that our losses in our stocks won't get back up til 2015..
                        I have lost 45% of my retirement. When I retired, I had to roll it over due to my age, and it makes me so mad that I am forced to lose all my money..

                        Comment


                        • #13
                          Re: Nationwide Store Closings

                          I lost about the same, and I am spitting mad that MY taxes might be going to pay for someone ELSE's mistakes!!! THEY made the mistakes, THEY should pay!

                          Same goes for the three major car companies! I DO NOT feel sorry for them!
                          THEY had the chance YEARS ago with incentives and tax breaks to come up with a cleaner running energy fuel, solar, green, whatever... they CHOOSE to build bigger-badder-gas guzzling- monsters, because THAT is where they made the money!
                          NOW they cry foul because no one wants to buy these monsters anymore? NOW they want to be bailed out as well? With MY TAXES?

                          It will only get worse... I think we need to pull out all those recipes from grandma's day

                          Comment


                          • #14
                            Re: Nationwide Store Closings

                            wow,janabanana, thats a lot of stores and jobs going away!

                            Comment


                            • #15
                              Re: Nationwide Store Closings

                              i like home depots gardening section..we had a locally own hardware store and across the street low'es opened up..after a couple of yrs..the locally own hardware store shut it's doors..really sad..it was cute store that had just about everything..

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