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.
This quarter 33 stores have closed and the company has announced that in the fiscal year of 2009, 143 more are anticipated to close
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 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%
The number of outlets will decrease and will be limited to the largest metropolitan areas in the U.S.
40 of its 916 stores are going to close
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.
The company has filed Chapter 11 bankruptcy and will be closing 83 of 173 stores.
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.
The company is undergoing reorganization and plans to open 20 new stores while closing 30 stores.
The company has said that they will close up to 117 stores in the coming months.
Owned by Talbots, about 75 stores will close and the remainder will be sold to private owners.
First quarter profits were down by 98%. In response, they will shut 20% of stores, around 225 stores.
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
Owned by Abercrombie & Fitch, all of the 29 stores will be closed.
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