Economy Worsens – Telltale Signs
by Philip on Nov.20, 2008, under Business, recession
Recession - The Belt Tightening Begins
Yet another sign of the things to come — check out this slideshow of some major brick and mortars shutting down stores. Here’s a summary if you are feeling lazy (or just downright depressed):
Linens ‘n Things: closing 120 underperforming stores out of 589 as it works through its Chapter 11
Disney Stores: 98 stores
Foot Locker: 140 closing + 274 closed last year
Wilson’s Leather: 160
Home Depot: chopping 15 stores, 950 jobs and 3 call centers
Ann Taylor: 117 stores. Planning to close 16% of all stores by 2010
Pac Sun: 154 Demo Stores closing + 74 closed earlier this year
Lone Star: 27
Zales: 105. Insert your own “… are forever” jokes here
Pier 1 Imports: 25 + 79 stores in 2007. Headquarters up for sale.
Friedman’s Jewelers: BK
Dell: 140. Mall Kiosks are gone.
84 Lumber: 12
Sharper Image: 90. Just filed for BK protection.
Pep Boys: 31. Laying off 550.
Ethan Allen: 12
Rite Aid: 28
Sprint: 125 stores, 4000 jobs
Hollywood Video / Movie Gallery: 400 planned, 520 already gone. Going through BK proceedings
Saks: Ft. Lauderdale location got the axe.
Wikes Furniture: 38. In BK proceedings
Levitz / Sofa Express: 76 / 44. Both BK
Macy’s: 9
CompUSA: 103 stores being sold or shutdown. Those of us who still get spammed know that they were sold and are now owned by TigerDirect.
Kirkland’s: 30 to 130
Big Dollar: 10. You know times are tough when even the dollar stores need to scale back.
Fashion Bug / Lane Bryant / Catherine’s: 150
Talbot’s / Sigrid Olsen: 78 / 54
Jasmine Sola: 23
Lillian Vernon: BK
Any of you know of any others?
