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US Store Closings - The Latest Casualty Count
11-16-8

Watch out for these store money cards and gift cards...and credit slips.

Stores that informed the Security Exchange of closing plans between October 2008 and January 2009....

Circuit City stores... most recent (how many?)

Ann Taylor - 117 stores nationwide are to be shuttered

Lane Bryant,, Fashion Bug, and Catherine's to close 150 store nationwide

Eddie Bauer to close stores 27 stores and more after January

Cache will close all stores

Talbots closing down all stores

J. Jill closing all stores

GAP closing 85 stores

Footlocker closing 140 stores more to close after January

Wickes Furniture closing down

Levitz closing down remaining stores

Bombay closing remaining stores

Zales closing down 82 stores and 105 after January.

Whitehall closing all stores

Piercing Pagoda closing all stores

Disney closing 98 stores and more after January.

Home Depot closing 15 stores 1 in NJ ( New Brunswick )

Macys to close 9 stores after January

Linens and Things closing all stores

Movie Gallery Closing all stores

Pacific Sunware closing stores

Pep Boys Closing 33 stores

Sprint/ Nextel closing 133 stores

JC Penney closing a number of stores after January

Ethan Allen closing down 12 stores.

Wilson Leather closing down all stores

Sharper Image closing down all stores

K B Toys closing 356 stores

LOWES to close down some stores

Dillard's to close some stores.

http://clk.atdmt.com/MRT/go/119462413/direct/01/
Quote:US Store Closings - The Latest Casualty Count
11-16-8

Watch out for these store money cards and gift cards...and credit slips.

Stores that informed the Security Exchange of closing plans between October 2008 and January 2009....

Circuit City stores... most recent (how many?)

Ann Taylor - 117 stores nationwide are to be shuttered

Lane Bryant,, Fashion Bug, and Catherine's to close 150 store nationwide

Eddie Bauer to close stores 27 stores and more after January

Cache will close all stores

Talbots closing down all stores

J. Jill closing all stores

GAP closing 85 stores

Footlocker closing 140 stores more to close after January

Wickes Furniture closing down

Levitz closing down remaining stores

Bombay closing remaining stores

Zales closing down 82 stores and 105 after January.

Whitehall closing all stores

Piercing Pagoda closing all stores

Disney closing 98 stores and more after January.

Home Depot closing 15 stores 1 in NJ ( New Brunswick )

Macys to close 9 stores after January

Linens and Things closing all stores

Movie Gallery Closing all stores

Pacific Sunware closing stores

Pep Boys Closing 33 stores

Sprint/ Nextel closing 133 stores

JC Penney closing a number of stores after January

Ethan Allen closing down 12 stores.

Wilson Leather closing down all stores

Sharper Image closing down all stores

K B Toys closing 356 stores

LOWES to close down some stores

Dillard's to close some stores.

http://clk.atdmt.com/MRT/go/119462413/direct/01/


There are a number of stores on this list that I've been surprised still exist today. Either redundant or plain ole wierd-KB Toys being one of them-don't remember why-never liked them...

Pep Boys with Manny, Moe and Jerk Dunno

Zales? c'mon...

and I suspect the great deals to be found online is causing a lot of mediocre stores to close-there's too many great bargains on linens... and things online to dilly dally in a specialty shop imo... From one extreme to the other in less than 30 years-having a May Co And a Sears as anchors for a mall filled with the likes of 'Wilson's Leather' to the floribunda Grandiosa of having the WORLD as your own personal shopping center and THEY DELIVER!!! Scream

Retail is one area where I've HOPED WOULD FAIL TO THE DIRT AS FAR AS EMPLOYMENT GOES... hard, disrespectful working conditions- barely above minimal wages regardless of how hard you work and the owners certainly GET RICH OWNING RETAIL.

Time to shrug off the chains and allow people to create jobs WORTHY of human beings' energies. Time to get on with the programs of progression or else get into the pogroms.
It wasn't always like this.

Ever drive around in residential neighborhoods built prior to WWII, and notice how there was a mom & pop grocery store within walking distance of everyone?
Quote:It wasn't always like this.

Ever drive around in residential neighborhoods built prior to WWII, and notice how there was a mom & pop grocery store within walking distance of everyone?


I was talking to a good old dad who did his child raising in the 50s ( or at least shared the house with his 6 kids-2 sets of twins) and as his little grandson was playing with some multi small pieced toy- asked him how they dealt with all that crap-like Legos back then with six kids.

his answer was simple 'there weren't any tiny toy pieces like that except puzzles...toys were big and the kids didn't have many of them-not til the mid 60s when plastics really became common'...

There didn't used to be much shopping going on back then either-school shopping once or twice a year-birthdays-you got ONE gift-Xmas would be good times.

Shopping for recreation is a new thing. I've never liked malls for many reasons so I don't care if they all close down-many of them did or got restructured in the late '90s-ughhhgghhh
They didn't do a lot of clothes shopping, either. Mom altered the hand-me-downs to fit the younger kids, or else a seamtress came to the house to do that. They only needed a pair of school shoes and Sunday shoes, and cheap Keds sneakers for the summer.
I have never shopped at hardly any of those stores except Home Depot, Lowes and Penny's. Nothing in those stores is made here in the US and like gard said - they pay their employees crap wages with no benefits.

We need to start manufacturing our own crap right here and learn to be self-sufficient again.

I hate to shop. It is not recreation for me. When I was in school my Mom always went out in the Fall and bought me 5 dresses for school and that lasted all year. We only have two seasons here - hot and mild - so all I needed was a sweater for the winter - not 2 wardrobes. She worked so she could afford nice dresses - not expensive ones - but not KMart ones. I had a pair of school shoes and tennies and beat around clothes for after school.

Some of those chains will survive - they just overbuilt and will have to reduce the number of their stores. Not a bad thing excpet for those directly affected.
As someone who sews I will hope to see the fabric stores come back now that Wal Mart is closing all their fabric sections in their stores. They ran all the mom & pop's out of business - Jo Ann's and Hancock's are all that are left - and now they bail.

Fabric is one thing you really can't buy online - you gotta see and feel the texture!
Quote:As someone who sews I will hope to see the fabric stores come back now that Wal Mart is closing all their fabric sections in their stores. They ran all the mom & pop's out of business - Jo Ann's and Hancock's are all that are left - and now they bail.

Fabric is one thing you really can't buy online - you gotta see and feel the texture!


Jo Ann's is bailing? Our Walmart here has a HUGE fabric and craft department! it's a great one-there are so many fabrics that you will never see made up for sale-I found this great flannel material with great winter scenes full of moose last month.

I used to be really good at calling the new fads out about 2 years before they went nuts in the mainstream-and SEWING IS ONE I'M PICKING UP ON. I've had a lot of friends over the years that would call me out for buying ANYTHING RETAIL as there is everything you need at thrifts. EVERYTHING YOU NEED. Brand new stuff-vintage stuff... I won't do a big thrift run though I discovered a few new ones around town until I get rid of a lot of my old stuff FIRST.

hahaha back in the day when big families were the norm- they'd get us all into 2 bedrooms and there'd be at best 2 bathrooms, a tiny kitchen for what went down in there all the time, small fridges... we all must have eaten smaller portions or something. But now the houses are HUGE- everything is HUGE-must be to stash all of the STUFF we have.

Time for a natural swing of the pendulum back to austerity just for convenience and organizational needs.
The fabric stores that are left devote half their floor space to Chinese crap that nobody needs.

And most of us have enough clothes in the closet to last for at least 10 years.
I can't help but wonder about the increased number of people in retail, and soon the few manufacturing jobs left in the US, being pushed out of their employment. How much pressure this will soon put on the illegals now being employed by the millions.
We may begin to see a decrease in their numbers quite soon. But, with a corresponding increase in crime for the short term.
Could be we'll be seeing a silver lining to the coming cloud on several fronts. Illegal imigration will decrease possibly, and less importing of products and services. The latter could turn into a huge boon, if we begin to become self sufficient again, at least to some greater degree than we are now!
We are going to need our government subsidized social services reserved for American citizens now, more than ever, if we must have them at all.
A friend of mine recently interviewed for a landscape foreman job. Didn't get it because HE WASN'T FLUENT IN SPANISH!!!

<img src="{SMILIES_PATH}/rofl.gif" alt="Rofl" title="rofl" /> THIS JUST SLAYS ME! IN THE MIDDLE OF THE THEOCRATIC POTATO FIELDS YOU MUST BE FLUENT IN SPANISH!

the rich boss men would rather have the illegal 'boys' than any white man or woman working for them. Kind of like the days of slaves or something.
But how long will it be before every business that now employs illegals is surrounded by citizens demanding they be deported so employers MUST hire legal residents?
If jobs get scarce.......... <img src="{SMILIES_PATH}/naughty.gif" alt="Naughty" title="naughty" />
Quote:Jo Ann's is bailing? Our Walmart here has a HUGE fabric and craft department! it's a great one-there are so many fabrics that you will never see made up for sale-I found this great flannel material with great winter scenes full of moose last month.

I JUST HAD to poke in here as a joke and ask... Lmao

Bob... <img src="{SMILIES_PATH}/reefer.gif" alt=":uni:" title="reefer" />
Quote:gardener said:
A friend of mine recently interviewed for a landscape foreman job. Didn't get it because HE WASN'T FLUENT IN SPANISH!!!
Seems like the way things are headed, in the near future some folks here in the US may not get such a job because English is their primary language ...
Probably ain't nothing for it but for some of the big thinkers and pillars o' society to quit wanking off to the word "productivity" and that's still only half of whatever the solution is.
Malls, hotels next victims in new mortgage crisis
Thursday November 27, 9:14 pm ET
By Matt Apuzzo, Associated Press Writer
Malls, hotels next victims in mortgage crisis as signs show meltdown far from over


WASHINGTON (AP) -- The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis -- one that could turn out the lights on malls, hotels and storefronts nationwide.

Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure.

Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages.

That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies' credit.

"We're probably in the first inning of the commercial mortgage problem," said Scott Tross, a real estate lawyer with Herrick Feinstein in New Jersey.

That's bad news for more than just property owners. When businesses go dark, employees lose jobs. Towns lose tax revenue. School budgets and social services feel the pinch.

Companies have survived plenty of downturns, but economists see this one playing out like never before. In the past, when businesses hit rough patches, owners negotiated with banks or refinanced their loans.

But many banks no longer hold the loans they made. Over the past decade, banks have increasingly bundled mortgages and sold them to investors. Pension funds, insurance companies, and hedge funds bought the seemingly safe securities and are now bracing for losses that could ripple through the financial system.

"It's a toxic drug and nobody knows how bad it's going to be," said Paul Miller, an analyst with Friedman, Billings, Ramsey, who was among the first to sound alarm bells in the residential market.

Unlike home mortgages, businesses don't pay their loans over 30 years. Commercial mortgages are usually written for five, seven or 10 years with big payments due at the end. About $20 billion will be due next year, covering everything from office and condo complexes to hotels and malls.

The retail outlook is particularly bad. Circuit City and Linens 'n Things have sought bankruptcy protection. Home Depot, Sears, Ann Taylor and Foot Locker are closing stores.

Those retailers typically were paying rent that was expected to cover mortgage payments. When those $20 billion in mortgages come due next year -- 2010 and 2011 totals are projected to be even higher -- many property owners won't have the money.

Some will survive, but those property owners whose loans required little money up front will have less incentive to weather the storm.

Refinancing formerly was an option, but many properties are worth less than when they were purchased. And since investors no longer want to buy commercial mortgages, banks are reluctant to write new loans to refinance those facing foreclosure.

California, New York, Texas and Florida -- states with a high concentration of mortgages in the securities market, according to Fitch -- are particularly vulnerable. Texas and Florida are already seeing increased delinquencies and defaults, as are Michigan, Tennessee and Georgia.

The worst-case scenario goes something like this: With banks unwilling to refinance, a shopping center goes into foreclosure. Nobody can buy the mall because banks won't write mortgages as long as investors won't purchase them.

"Credit markets have seized up," corporate securities lawyer Michael Gambro said. "People are not willing to take risks. They're not buying anything."

That drives down investments already on the books. Insurance companies are seeing their stock prices fall on fears they are too invested in commercial mortgages.

"The system has never been tested for a deep recession," said Ken Rosen, a real estate hedge fund manager and University of California at Berkeley professor of real estate economics.

One hope was that the U.S. would use some of the $700 billion financial bailout to buy shaky investments from banks and insurance companies. That was the original plan. But Treasury Secretary Henry Paulson has issued a stunning turnabout, saying the U.S. no longer planned to buy troubled securities. For those watching the wave of commercial defaults about to crest, the announcement was poorly received.

"He's created havoc in the marketplace by changing the rules," Rosen said. "It was the stupidest statement on Earth."

The Securities and Exchange Commission is considering another option that might ease the crisis, one that would change accounting rules so banks don't have to declare huge losses whenever the market declines.

But the only surefire remedy is for the economy to stabilize, for businesses to start expanding and for investors to trust the market again. Until then, Tross said, "There's going to be a lot of pain going forward."



http://biz.yahoo.com/ap/081127/meltdown ... .html?.v=6