GO BUY SOMETHING WITH YOUR GIFT CARDS NOW!!
If you have a gift card for one of these major retailers go to the store and buy something now, it may not be there tomorrow.
It seems that almost all the major retailers are facing dark days ahead with the recession-depression-stagnant-economy that the world is experiencing at the moment. Any way you slice it, stores will close and this is all what economists say is part of the economic cycle. What goes up, must come down. Curiously, the only companies that are not downsizing are large pharmaceutical corporations and oil companies.
Over 41 retain stores are facing drastic downsizing or bankruptcy including the following:
Ann Taylor- 117 stores nationwide closing by 2010.
Bombay- closing remaining stores
Cache- will close all stores.
Circuit City- stores are going through the bankruptcy progress.
Dell Computers- closing 140 kiosk stores, selling only to big box stores.
Dillard’s- to close some stores.
Disney Stores- closing 98 stores in the US, 2 in Canada, out of 220 stores and will close more after January, downsizes by 50 percent.
Eddie Bauer- to close stores 27 stores and more after January.
Ethan Allen- closing down 12 stores of 300 on January 10, 2009.
Friedman’s Jewelers: closing most of its 473 stores, liquidating 400 million in jewelry, laying off employees -going through bankruptcy.
Footlocker- closing 140 stores, closed 274 in 2007, more to close after January.
GAP, Old Navy, Banana Republic- Gap has total of 1,243 stores, closing up to 400 stores, putting up for sale/selling off divisions.
Gap owns Banana Republic has 500 stores. All Gap stores carry 160 billion in inventory, 465 international stores at risk. 150,000 employees world wide.
Harold’s- closing 18 stores-going out of business after 60 years.
Home Depot- closing 15 under performing stores 1 in New Jersey and one in Canada.
JC Penney- closing a number of stores after JanuaryJ.
Jill closing all stores by January, 2009 after Christmas.
K B Toys- closing a total of 356 stores.
Lane Bryant,, Fashion Bug ,and Catherine’s to close 150 store nationwide Lillian Vernon: Filed bankruptcy in Feb. 2008.
Levitz- closing down remaining 76 stores-going out of business, 165 million dollars of inventory for sale.
Linens and Things- closing all stores in US and Canada, filed bankruptcy in May failed to find buyers for the company, liquidation started in October 2008.
Lone Star Steakhouse- closing 27 locations especially in Florida.
Lowes: to close down some stores.
Macys: to close 9 stores after January.
Movie Galley & Hollywood Video: Closing 400 stores, 520 stores went bankrupt.
Office Depot: In danger.
Pac Sun Demo Stores: 154 stores, closed 74 in 2007.
Pacific Sunware: closing stores.
Pier 1 Imports: closing 25 stores, selling its headquarters.
Piercing Pagoda: closing all storesPep Boys: Closing 33 stores.
Rite Aid: Closing 28 drugstores-getting out of Vegas & Nevada.
Saks Fifth Avenue: closing 1 store in Ft. Lauderdale.
Sharper Image: closing all stores after 31 years, 50 million dollars in inventory on chopping block, shuts down 84 more stores in the US.
Sprint/ Nextel Corp: closing 125 stores, 4,000 job loss.
Talbot’s: closing down all stores.
Wickes Furniture: closing 38 stores, selling 75 million in inventory.
Whitehall closing all stores.
Wilson Leather: closing down all 160 stores, shutting down Mall stores, laying off employees -restructuring remaining Mall stores into accessory boutiques called “Studio”.
Urban Interiors: closing 2 stores in Seattle 5 million dollars of inventory for sale at it’s locations.
84 Lumber: Closing 30 stores as of April 2008, terminated 230 employees.
Zales: closing down 50 kiosks, 55 stores and 105 after January.
Currently the world’s busiest stores are: McDonald’s, in Karlsplatz, Munich, Germany, seconded by the 220 W. 42nd Street store in New York City near Times Square.
But to some that have been saving their pennies this is a the mother load of sales opportunities for the smart shoppers especially before Christmas. While this is a god sent to some it means thousands of jobs are lost.
This has been a Politicol News Report.
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