This isn’t a shocker, but according to an article in the Wall Street Journal (which has been reprinted all over the place, including the San Francisco Chronicle), Borders plans to close another 200 of its Waldenbooks stores, leaving a paltry 130 remaining in the chain. Despite what the article says, it’s unlikely even those are [...]
Two large, popular chains are coming to New York City this month. Tim Horton’s, the venerable Canadian donut-and-coffee outlet, is opening 12 outlets across Manhattan and Brooklyn this month, with 3 more coming in August. The stores are replacing former Dunkin Donuts outlets, and hopefully will find a niche in one of the toughest and most saturated markets [...]
According to an article in the May 15, 2009 Columbus Dispatch, Big Lots – a discount chain known for selling overstock and closeout merchandise – aims to make an even bigger name for itself in the eye of the consumer.
Not only is it the company’s first new store in central Ohio since 2005, it is a departure from the past strategy of locating in retail centers and strip malls aimed at discount shoppers.
By choosing a former Linens ‘n Things site across from Polaris Fashion Place mall, Big Lots is hoping to upgrade its profile and test some new ways of presenting its merchandise.
Well, it’s happened. U.S. mall owner General Growth Properties filed for Chapter 11 bankruptcy today.
General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history.
Ending months of speculation, General Growth, along with 158 of its 200-plus U.S. malls, filed Chapter 11 while it tries [...]
Here’s another interesting curiosity: Dillard’s, who maintains two stores at Austin’s beleaguered Highland Mall, is suing the Highland Mall Limited Partnership–made up jointly of General Growth Properties and Simon Property Group–for letting the mall deteriorate sharply. Dillard’s plans to close both of their stores in the center, which already lost JCPenney in 2006.
Gang activity, crime [...]
Isn’t it obvious it would turn out this way?
On March 30, Gottschalks announced they were going to liquidate, extinguishing any hope the 105-year-old chain would continue to operate. We noted a few months ago that Gottschalks existed in a weird place–kind of a dowdy combo of Kohls and Macy’s, with mostly mall-based locations–and that their [...]
Yikes. They only just announced a Chapter 11 filing last week, but Gottschalks is on the fast track to oblivion. Inside Bay Area notes that Gottschalks needs a buyer now “or else:”
Gottschalks Inc. intends to find a buyer by mid-March or it might proceed with a complete liquidation of its assets, according to court papers [...]
As expected, 2009 is bringing a massive wave of retail bankruptcies. Today brings news of the biggest yet: Circuit City will be closing all of their stores and winding down their business between now and March 31. This will leave Best Buy as the only national electronics retailer, with only a few regional (or much [...]
Macy’s, like many other stores in the country, didn’t make it through the holiday season with a surplus of cash; in fact, Macy’s has emerged from the holiday season – a time when many stores report up to 50 percent of annual sales – badly beaten and in need to purge some of its stores. [...]
I didn’t live through the Great Depression, but none of the seniors who did told me we’d be losing all of our chain stores! Sheesh…
We already know about Mervyn’s and Linens N Things, but I dropped the ball on reporting on a few others, such as:
Value City:
The ailing Value City Department Stores chain has filed [...]
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