Going Out Of Business / Bankruptcy Predictions

DGSUCKS · Posted: Wed Feb 25, 2009 11:46 am Post subject:

I really don't think BEST BUY will be shutting its doors or filing for bankruptcy anytime soon.

angryatFDO · Posted: Wed Feb 25, 2009 2:02 pm Post subject:

angryatFDO · Posted: Wed Feb 25, 2009 2:14 pm Post subject:

Okay... I found the article on Best Buy...

Read under: Corporate bankruptcies:

http://www.moneyandmarkets.com/red-alert-major-meltdown-imminent-your-escape-29835

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DGSUCKS · Posted: Wed Feb 25, 2009 3:47 pm Post subject:

angryatFDO · Posted: Thu Feb 26, 2009 12:42 am Post subject:

angryatFDO

BPBill · Trainee Joined: Feb 23, 2009 Posts: 5

DGSUCKS · Posted: Thu Feb 26, 2009 10:57 am Post subject:

burning_television · Posted: Thu Feb 26, 2009 1:33 pm Post subject:

Bosch · Cashier Joined: Jan 31, 2009 Posts: 289

angryatFDO · Posted: Wed Mar 04, 2009 2:40 am Post subject:

DGSUCKS · Posted: Mon Mar 30, 2009 3:30 pm Post subject:

Well there are more BigKmarts closing so I am thinking by this years end Kmart will no longer exist.

BamCKY29 · Posted: Sat Apr 04, 2009 10:36 am Post subject:

Good, maybe the best buy will close in my mall and we won't have any to compete with and our sales will go up, but then again that really sucks for all the people in my mall who work there. So I'm kind of split 50/50

I'm suprised about Spencers because we are opening one in our mall across the hall from my store???

jdragland · Trainee Joined: Jan 16, 2010 Posts: 1

I think Macy's will be the next retailer that will file bankruptcy.
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LPHardcore · Posted: Thu Jan 21, 2010 12:53 pm Post subject:

Bankruptcies don't necessarily mean out of business. There are two types, chapter 7 and 11, and depending on which one the business files under determines what could happen.

A lot of the companies filing bankruptcy are simply rerstructuring their organizations. I know KB Toys and Blockbuster are definitely going under as their liquidating their assets. Sears and Bed Bath are also probably next, as they've both reported net share losses of at least 35%-50%.

Saks Fifth Avenue is undergoing restructuring. I work for Nordstrom, and we compete a lot with them. Like us, they have full-line luxury retail stores and discount off-price stores (Saks Off Fifth) where they sell overflow from their full-line stores at cheaper prices. Saks is simply going to be closing a good portion of their full line stores and re-opening Saks Off Fifth locations to capitalize on the discount retailer trend. They'll keep their full line stores in certain areas (Beverly Hills, Long Island, Bala Cynwyd, etc.) where the consumer bases regularly shops there and gives them a profit.

I don't think Rite Aid is disappearing anytime soon. They've opened like 7 new ones around my way.