There’s no doubt that the economy is facing hard economic times (as spewed forth by the liberal biased media). There are thousands of stores closing across the nation. What the media fails to mention is the growth and openings of new retailers. Yes, the economy may be undue pressure on certain retailers that did not have an effective business plan with enough scope to mitigate for a changing business cycle that repeats every 10 to 15 years. However, there are many businesses that are still doing great despite the poor planners. There are also many new startups that are doing fantastically well. So what’s with all the store closings? Well, simply it is ineffective planning, weak management, and poorly thought out business plans.
Here’s my compiled list of stores that will be closing by the end of the year:
Starbucks closing 100 stores and slowing expansion plans by 34%
Sprint Nextel closing 125 stores and 4,000 distribution points
Disney closing 98 stores
Linens and Things closing all stores
KB Toys closing 356 stores
Gap closing 85 stores
CompUSA’s remaining 103 stores being disposed of
Home Depot closings some call centers and 15 stores
Foot Locker closing 140 stores
Movie Gallery closing another 400 stores
Charming Shoppes closing 150 stores and cutting expansion plans by 50%
Ann Taylor shutting 117 stores and slowing store growth
Boston Market evaluating its real estate opportunities
Buffet Holdings sorting out its underperformers
Cost Plus World Market closing 18 stores
Liz Claiborne closing 54 Sigrid Olsen stores
New York & Company axing the Jasmine Sola brand and its 32 stores
Ethan Allen closing 12 stores
PacSun closing all of its 173 demo stores
Talbots exiting its kids and men’s lines through closure of 100 stores.
Rite Aid exiting Nevada by closing 28 stores
Macy’s closing 9 stores
Krispy Kreme expecting many franchisees to close stores
Kirkland’s Home likely closing 130 stores
Rent-A-Center closing 280 stores
Sofa Express closing 44 stores in bankruptcy
84 Lumber closing 12 stores
Levitz Furniture disposing of 76 stores in bankruptcy
Pep Boys closing 33 stores
Lifetime Brands closing 30 stores
Big A Drugs liquidating its 21 stores
Sharper Image shutting down 90 to 180 stores
Eddie Bauer closing 29 stores
Lane Bryant closing 150 stores
Wickes going out of business
Zales closing 105 stores
Wilsons closing 158 stores
Pacific Sunwear closing 228 stores
Bombay Company closing 384 stores
Dillards closing 6 stores
Whitehall closing all stores
Piercing Pagoda closing all stores
Do you have any others that I might have missed?
Related posts:
Re: Lifetime Brands – It was 30 stores last December. It’s 53 stores (the last 53 stores) this December, and a distribution facility early next year. Somewhere in the neighborhood of 500 employees will be “affected.”
LCUT Lifetime Brands closing last 53 kitchenware stores:
“The company said it is also closing its distribution facility in York, Pa., in 2009, but will continue to operate its Internet and mail order catalog business.
Lifetime said the closings will include 39 Pfaltzgraff factory stores, eight Faberware outlet retail stores and 6 clearance stores.”