Tuesday, November 18, 2008

With Great Sadness

I hope Obama can hurry up and turn this economy around! I received an email today and it has a list of all the stores that have either closed, or will be closing. Not all of them are closing ALL of their stores; most of them are just closing a few around the country.

If you have gift cards, hurry up and use them!!

Ann Taylor closing 117 stores nationwide. A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the
stores that will close this fiscal year know over the next month.

Bombay Company: (Freehold Mall store closed) The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online storefront has discontinued operations.

Women's retailer Cache announced that it is closing 20 to 23 stores this year.

Circuit City - Initial statements suggest that 150 of Circuit City 's 1484 stores in the US and Canada may be shut down. In addition to the closings, Circuit City may be liquidating up to $350 million in inventory, likely at fire sale pricing.

CompUSA (CLOSED) clarifies details on store closings. Any extended
warranties purchased for products through CompUSA will be honored by a
third-party provider, Assurant Solutions. Gift cards, rain checks, and
rebates purchased prior to December 12 can be redeemed at any time during the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners.

Dillard's to close more stores. Dillard's Inc. said it will continue to
focus on closing under performing stores, reducing expenses and improving
its merchandise in 2008. At the company's annual shareholder meeting, CEO
William Dillard II said the company will close another six under performing
stores this year.

Disney Store owner has the right to close 98 stores. The Walt Disney
Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's
Place filed for bankruptcy protection in late March. Walt Disney, in the
news release, said it has also obtained the right to close about 98 Disney
Stores in the U.S. The press release didn't list those stores.

Eddie Bauer to close more stores. Eddie Bauer has already closed 27 shops
in the first quarter and plans to close up to two more outlet stores by the
end of the year.

Ethan Allen Interiors: The company announced plans to close 12 of 300+ stores in an effort to cut costs.

Foot Locker to close 140 stores. In the company press release and during
its conference call with analysts today, it did not specify where the future
store closures - all planned in fiscal 2008 - will be. The company could not
be immediately reached for comment

Gap Inc. closing 85 stores. In addition to its namesake chain, Gap also
owns Old Navy and Banana Republic . The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.

Home Depot store closings. ( E. Brunswick , Rt 18 just put up their closing
sign) ATLANTA - Nearly 7+ months after its chief executive said there were
no plans to cut the number of its core retail stores, The Home Depot Inc.
announced Thursday that it is shuttering 15 of them amid a slumpingU.S.
economy and housing market. The move will affect 1,300 employees. It is the first time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the under performing U.S. stores being closed represents less than 1 percent of its existing stores. They will be shuttered within the next two months.

J. C. Penney, Lowe's and Office Depot are scaling back.

KB Toys posted a list of 356 stores that it is closing around the United
States as part of its bankruptcy reorganization. To see the list of store
closings, go to the KB Toys Information web site, and click on Press

Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide. The
owner of retailers Lane Bryant , Fashion Bug , Catherine's Plus Sizes will
close about 150 under performing stores this year. The company hasn't
provided a list of specific store closures and can't say when it will offer
that info, spokeswoman Brooke Perry said today.

Goodbye Levitz - closed already. The furniture retailer, which is
going out of business. Levitz first announced it was going out of business
and closing all 76 of its stores in December. The retailer dates back to
1910 when Richard Levitz opened his first furniture store in Lebanon , PA.
In the 1960's, the warehouse/showroom concept brought Levitz to the
forefront of the furniture industry. The local Levitz closures will follow
the shutdown of Bombay (see above).

Gift retailer Lillian Vernon, based in Virginia Beach , Va. , said it will evaluate whether to sell itself.

Linens 'n' Things - Earlier this week, Linens 'N Things backed out of restructuring plans that included some store closures and decided to shut its remaining 371 stores in 48 states.

Macy's - 9 stores

Mervyns - Mervyns, the 59-year-old department store chain based inHayward, is closing up shop. The ailing retailer, which filed for Chapter 11 bankruptcy protection in July and planned to close 26 stores, said Friday it now plans to liquidate its remaining 149 locations and shutter the business after the holiday season.
"We are disappointed with this outcome but the company's declining liquidity position and the extremely challenging retail environment, together with the fact that we have exhausted all other possibilities, requires that we take this action," said John Goodman, Mervyns' chief executive, in a statement.

Movie Gallery - 160 stores as part of reorganization plan to exit bankruptcy
The video rental company plans to close 400 of 3,500 Movie Gallery and
Hollywood Video stores in addition to the 520 locations the video rental
chain closed last fall.

Pacific Sunwear will close its 154 Demo stores after a review of strategic
alternatives for the urban-apparel brand. Seventy-four under performing demo stores closed last May.

Pep Boys - 33 stores

Sharper Image: The company recently filed for bankruptcy protection and
announced that 90 of its 184 stores are closing. The retailer will still
operate 94 stores to pay off debts, but 90 of these stores have performed
poorly and also may close.

Shoe Pavilion Inc.,

Sprint Nextel - 125 retail locations. New Sprint Nextel CEO Dan Hesse
appears to have inherited a company bleeding subscribers by the thousands,
and will now officially be dropping the ax on 4,000 employees and 125 retail
locations. Amid the loss of 639,000 postpaid customers in the fourth quarter
Sprint will be cutting a total of 6.7% of its work force (following the 5
000 layoffs last year) and 8% of company-owned brick-and-mortar stores,
while remaining mute on other rumors that it will consolidate its headquarters in Kansas . Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.

Steve & Barry's Earlier this month, Steve & Barry's LLC, once a growing force in low-priced fashion, filed for Chapter 11. Steve & Barry's, which has 276 stores in 39 states, tossed itself into Chapter 11 bankruptcy protection, the latest victim of a steep downturn in the retail sector and tighter credit markets. Mall owners have delayed reimbursing the discount fashion chain for store-opening expenses, further constricting its cash flow, the company said

Talbot's, J. Jill closing stores. About a month ago, Talbot's announced
that it will be shuttering all 78 of its kids and men's stores. Now the
company says it will close another 22 under performing stores.. The 22
stores will be a mix of Talbot's women's and J. Jill , another chain it owns
The closures will occur this fiscal year, according to a company press

Wickes is going out of business. Wickes Furniture is going out of business
and closing all of its stores, Wickes, a 37-year-old retailer that targets
middle-income customers, filed for bankruptcy protection last month. They
have already closed the Minnesota stores.

Wilsons the Leather Experts - 158 stores.

Zales, Piercing Pagoda closing stores. The owner of Zales and Piercing
Pagoda previously said it plans to close 82 stores by July 31. Today, it
announced that it is closing another 23 under performing stores. The company said it's not providing a list of specific store closures. Of the 105
locations planned for closure, 50 are kiosks and 55 are stores.

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