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Old 02-16-2009, 02:43 AM
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Unhappy Retail Trouble Ripple Effect

http://www.usatoday.com/money/indust...e-effect_N.htm

A number of retailers have closed stores, liquidated or filed for bankruptcy-court protection in 2009. The list and the number of stores affected:

Jan. 7 Goody's
Liquidation 287

Jan. 8 Against All Odds
Bankruptcy protection NA1

Macy's
Store reduction 11

New York & Co.
Store reduction 50

Jan. 9 Supervalu
Store reduction 50

Jan. 13 Shane Co.
Bankruptcy protection 23

Cub Foods
Store reduction 5

Cost Plus
Store reduction 26

Jan. 14 Gottschalks
Bankruptcy protection 58

Jan. 16 Circuit City
Liquidation 567

Black Angus Steakhouse
Store reduction NA2

Jan. 20 Yankee Candle
Store reduction 28

Jan. 21 Filene's Basement
Store reduction 11

Whitehall Jewelers
Liquidation 373

Jan. 22 Phillips- Van Heusen
Store reduction 175

Brown Shoe
Store reduction 35

Jan. 26 Home Depot
Store reduction 48

Jan. 28 Starbucks
Store reduction 300

Jan. 30 Chico's
Store reduction 25

Feb. 9 S&K
Bankruptcy protection NA3

1 = operates 64 stores overall, plans to close West Coast stores; 2 = operates 69 restaurants in Western states; 3 = operates 136 stores.
Source: Jeff Green Partners/Retail Traffic
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Old 02-16-2009, 04:43 AM
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This is just such sad news. Store closings means job losses, which equates to the inability to pay mortgages, car payments and other loans, which equals more lost homes, families wondering where their next meal will be coming from, how they will get to their job once their car is repo'd. . .these is sad times, folks, and we need to do all we can to help one another.
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Old 02-16-2009, 04:58 AM
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This is just such sad news. Store closings means job losses, which equates to the inability to pay mortgages, car payments and other loans, which equals more lost homes, families wondering where their next meal will be coming from, how they will get to their job once their car is repo'd. . .these is sad times, folks, and we need to do all we can to help one another.
I totally agree......
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Old 02-16-2009, 05:26 AM
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I did get to a circuit city on Saturday and I figured out why they have to close.....they are just too expensive. I mean even the store closing prices were to high.
There was nothing in the store that I couldn't have walked over to sears or target and purchased cheaper on any regular day.
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Old 02-16-2009, 06:31 AM
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this stinks. some of my favorite stores are in here. it's a sad time right now.
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Old 02-16-2009, 06:58 AM
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I did get to a circuit city on Saturday and I figured out why they have to close.....they are just too expensive. I mean even the store closing prices were to high.
There was nothing in the store that I couldn't have walked over to sears or target and purchased cheaper on any regular day.
I had the same experience at my Circuit City. At the time they were offering 30% off but even with that discount they were still higher than the retail cost of the exact same item at Target. I wonder if they have raised their prices trying to recoup some of their losses.

It's very sad to see so many folks losing their jobs. But I also think it's a good time to relearn the lessons "live within your means" and "don't spend more than you make".
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Old 02-16-2009, 07:14 AM
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I had the same experience at my Circuit City. At the time they were offering 30% off but even with that discount they were still higher than the retail cost of the exact same item at Target. I wonder if they have raised their prices trying to recoup some of their losses.
That is definitely possibility! Especially if the court system as appointed a trustee to oversee the liquidation. Linens & Things sell out was managed by another company and it showed.

Christine, I agree with you. Lots of the companies that are going out of business ARE very expensive. Many of them have opened too many stores and when things started to go down, they didn't respond by tightening their belts. CEOs were still getting bonuses and riding in private jets. I'm sad to see folks losing their jobs, but i'm amazed that this bubble has been this long in busting!

Our materialism has reached absurd proportions! I saw an 8 year old with a cell phone the other day. Not an "emergency, let mom know your okay, limited minutes", but a $250, 600 minutes/month cell phone. Her mom was talking about how tight their bills are, while she was getting into her brand new, humongous, 12 mph SUV (For her family of 4!).
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Old 02-16-2009, 07:23 AM
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Originally Posted by Nan View Post
That is definitely possibility! Especially if the court system as appointed a trustee to oversee the liquidation. Linens & Things sell out was managed by another company and it showed.

Christine, I agree with you. Lots of the companies that are going out of business ARE very expensive. Many of them have opened too many stores and when things started to go down, they didn't respond by tightening their belts. CEOs were still getting bonuses and riding in private jets. I'm sad to see folks losing their jobs, but i'm amazed that this bubble has been this long in busting!

Our materialism has reached absurd proportions! I saw an 8 year old with a cell phone the other day. Not an "emergency, let mom know your okay, limited minutes", but a $250, 600 minutes/month cell phone. Her mom was talking about how tight their bills are, while she was getting into her brand new, humongous, 12 mph SUV (For her family of 4!).

LOL NAN You are so correct.It amazes me how many people own SUV's that NEVER see dirt roads / pull anything or even live in a climate that gets snow. I just love driving in the Twin Citys watching the cougers ( 35-50 year old women) driving around in Tahoes / Suburbans that dont work......have one or two kids and NEVER need 4 wheel drive OR the space to hold beyond 4 people. But they jump the old man a few times and he buys um a 45k rig they dont need.Then to top it off they have the cell glued to their fake blonde hairjobs and are weaving all over the damn 4 lane heading to the gym so they can oggle the young studs while their old mans paying the bills. Easily half the SUV's in the cities are NOT needed.
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Old 02-16-2009, 07:28 AM
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LOL NAN You are so correct.It amazes me how many people own SUV's that NEVER see dirt roads / pull anything or even live in a climate that gets snow. I just love driving in the Twin Citys watching the cougers ( 35-50 year old women) driving around in Tahoes / Suburbans that dont work......have one or two kids and NEVER need 4 wheel drive OR the space to hold beyond 4 people. But they jump the old man a few times and he buys um a 45k rig they dont need.Then to top it off they have the cell glued to their fake blonde hairjobs and are weaving all over the damn 4 lane heading to the gym so they can oggle the young studs while their old mans paying the bills. Easily half the SUV's in the cities are NOT needed.
\
i totally agree with you dartman. couldnt of said it better myself.
i have seen too many kids with cell phones and it's unneccessary. what would these kids have done back in the day when we were growing up?? we didnt have cell phones, computers, etc. kids are spoiled these days. really spoiled.......
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Old 02-16-2009, 10:37 AM
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Originally Posted by Dartman View Post
LOL NAN You are so correct.It amazes me how many people own SUV's that NEVER see dirt roads / pull anything or even live in a climate that gets snow. I just love driving in the Twin Citys watching the cougers ( 35-50 year old women) driving around in Tahoes / Suburbans that dont work......have one or two kids and NEVER need 4 wheel drive OR the space to hold beyond 4 people. But they jump the old man a few times and he buys um a 45k rig they dont need.Then to top it off they have the cell glued to their fake blonde hairjobs and are weaving all over the damn 4 lane heading to the gym so they can oggle the young studs while their old mans paying the bills. Easily half the SUV's in the cities are NOT needed.
So, DM - how do you really feel?
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