Have you noticed stores in your area closing?

[StageLeft]

I was at the mall yesterday and although it was quite crowded overall, a couple of stores had closed since Xmas, two toy stores (including KB Toys). On the way home I went to a strip mall that was always a bit depressing and told MrsSkoorb I hope they don't close down before I get to the door. Well, I got to the store and this chain evidently closed all their stores literally four hours earlier, based on a sign on the window. Yikes!

 

[geno]

Within a 1/2 mile distance from my work, the following have closed within the past few months:

-Tweeter
-Linens and Things
-KB Toys
-now Circuit city

There happens to be a greater concentration of these stores in my area, but it is a little worrying seeing so many places biting the dust.

 

[venkman]

Cold Stone Creamery (just the one store not the whole chain)

 

[GTaudiophile]

I was briefly in the Georgetown Mall yesterday and noticed a few places with "going out of business sales". They were mostly jewelery stores.

 

[StageLeft]

Linens closed here, too. I guess I didn't realize KB Toys was going under everywhere but perhaps it is.

I used to visit Tweeter and their prices were truly crazy!

 

[BarneyFife]

Unfortunately I noticed yesterday that a restaurant I had a gift card too had closed.

 

[shortylickens]

Tweeters. I dont know if its their whole chain or just a couple of stores.
Shame. My mom finally decides she wants to upgrade her audio system and they went away.

Many little places who's names I cant recall.

Went to Union Station yesterday and about one quarter of the eateries are gone.
Most of the fancy shops on the upper level look like they are in trouble too.

Luckily my local Cold Stone is still in business.

 

[CPA]

Originally posted by: geno
Within a 1/2 mile distance from my work, the following have closed within the past few months:

-Tweeter
-Linens and Things
-KB Toys
-now Circuit city

There happens to be a greater concentration of these stores in my area, but it is a little worrying seeing so many places biting the dust.

All of these companies released major press releases about their closings. All of these should have been obvious.

 

[WhipperSnapper]

I wonder if business is booming for companies that make "Going out of Business", "Clearance", and "Closed" signs.

 

[LegendKiller]

I've noticed a lot, but they all seem to be businesses that never did that great to begin with. This economy is culling the chaff.

 

[IronWing]

A couple local restaurants have closed and a local department store chain closed. Last week, one company my company has contracts with announced they are shutting down. Three others have mothballed local operations and still more have dropped expansion plans in the last couple months. One company that informed us that they were mothballing their plant is a significant employer in the town they operate so the town will be hurt badly from it. It seems that the only folks talking expansion around here are those burning through investor cash trying to get their operations rolling regardless of future sales potential. They have nothing to lose by soldiering on as long as the investors keep them funded. If they cave in to current economic reality, they're out of jobs.

 

[Slew Foot]

Nothing aside from the obvious, from the way people are shopping around here, you wouldn't think it was "the greatest depression in the history of the universe".

 

[IronWing]

Originally posted by: Slew Foot
Nothing aside from the obvious, from the way people are shopping around here, you wouldn't think it was "the greatest depression in the history of the universe".

I'm not much on doom and gloom when it comes to the economy but this last week it really did hit home how little is happening and how fast that not-much-happening is accelerating. Other than government projects (roads and civic blunders mainly) construction has stopped cold around here, massive layoffs at the mines, and even the call centers have laid off tons of folks. I guess we'll find out if Keynes still works.

 

[Ozoned]

Originally posted by: Skoorb
I was at the mall yesterday and although it was quite crowded overall, a couple of stores had closed since Xmas, two toy stores (including KB Toys). On the way home I went to a strip mall that was always a bit depressing and told MrsSkoorb I hope they don't close down before I get to the door. Well, I got to the store and this chain evidently closed all their stores literally four hours earlier, based on a sign on the window. Yikes!

Except for the banks and branches that are lined up wall to wall.

A lot of foreclosures on commercial real estate mortgages isn't going to help.

<----wonders how big that market is?

 

[BoomerD]

Stores here are closing left & right. Not only the big chains who have gone under with lots of publicity, but many, many "mom & pop" types of businesses as well.

IMO, it doesn't bode well for our economy. I don't look for things to get better any time soon.

 

[StageLeft]

Originally posted by: LegendKiller
I've noticed a lot, but they all seem to be businesses that never did that great to begin with. This economy is culling the chaff.

This is the case in any recession, though; they are not, by definition of their ability to stay open, chaff when the economy is good. When it's bad the fragile companies go, but they will hurt others on the way down, since of course they do employ people. Case in point Woolworths in the UK that just closed up to the cost of 30k people (a damn lot for the size of the country).