Retail Stores Closing

Retail Stores Closing

Introduction Numerous companies have filed for bankruptcy, and thousands of stores across the United States are closing and liquidating their merchandise. Below follows a list of the chain stores and the extent of their closings for 2009.

Payless

This quarter 33 stores have closed and the company has announced that in the fiscal year of 2009, 143 more are anticipated to close

Zales

In the last quarter alone 118 stores have closed and 191 in the fiscal year 2009, 160 of which were stores and the remaining 31 were kiosks.

Blockbuster Video

Blockbuster has announced that they may close up to 20% of the stores before 2011, which is in between 810 and 960 stores.

Smith and Hawken

All of its stores are being closed down

Crabtree & Evelyn

The company has filed for bankruptcy and has announced that they will be closing stores in the near future.

Big 10 Tires

They have filed for bankruptcy and they have requested release from their leases on 32 stores.

Bank of America

The number of branches will decrease by 10%

Citigroup

The number of outlets will decrease and will be limited to the largest metropolitan areas in the U.S.

PacSun

40 of its 916 stores are going to close

Bulgari

Stores have already closed in Florida, Colorado, and New York, including its Madison Avenue store.

Sears and Kmart

28 more stores will be closing in 2009 in addition to the many that have already closed.

Samsonite

The company has filed Chapter 11 bankruptcy and will be closing 83 of 173 stores.

Waldenbooks

The bookstore is part of the Borders Group and will be cutting its stores down by about 80%, from around 300 stores to 50 or 60.

Jo-Ann Stores

The company is undergoing reorganization and plans to open 20 new stores while closing 30 stores.

Rite Aid

The company has said that they will close up to 117 stores in the coming months.

J. Jill

Owned by Talbots, about 75 stores will close and the remainder will be sold to private owners.

Jones Apparel

First quarter profits were down by 98%. In response, they will shut 20% of stores, around 225 stores.

Whataburger

This year 12 restaurants in Florida have closed due to low sales.

Advanced Auto Parts

The company has announced that there are 55 unprofitable stores and they will close 40 of them.

Advance America Cash Advance Centers

60 centers have closed and 130 more are set to shut down

Ruehl Stores

Owned by Abercrombie & Fitch, all of the 29 stores will be closed.

Boaters World

Parent company Ritz Camera Centers suffered major loses due to the switch to digital photography and will be forced to shut down all 129 Boaters World stores

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