Wednesday, December 10, 2008

Stores Going out of Business: What's the Real Deal?

There's an mail going around that a bunch of stores are going out of business. I posted
to my newsletter about it, but someone pointed me to which says the list isn't totally accurate. Not all store companies filing for Chapter 11 Bankruptcy connection will necessarily close all their stores, for example. Others are only closing some stores.

Here's a quick rundown of those who have closed some or all stores or will be closing same recently:

Ann Taylor - closing 117 out of 966 stores

Cache - closed 14 out of 295 but still opening new locations

Charming Shoppes closed 14 stores

Circuit City - closing    155 stores

CompUSA - most stores closed and co. sold, but 23 stores continue to operate in some states

Dillard's - closing 21 stores and plans to close more

Whitehall Jewelers - closing all 373 stores

GAP - expected to close 115 stores but open 100 more

Home Depot - Closing 15 stores

Sharper Image - was closing all 184 outlets as of June 2008

Talbot's - has closed 28 stores and is seeking buyer for J. Jill brand, but still has rest of stores open

Zales - closed 150 outlets but opened 100 new ones in 2008.

The Motley Fool also reported in Oct. 2008 that these companies were unlikely to make it through the holidays (two of which are listed above as not necessarily closing, so we'll see:

Circuit City



Also on one message board a user posted that these stores are going out of business in their local area:

1. Lechters
2. Ross
3. Bradlees
4. Cost Less - which is owned by Lechters
5. KFC
6. Lone Star Steakhouse - 2 of them
7. Boston Market
8. Boscov

Are stores in your area going out of business? Leave a comment about it here.

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