• G-111, which operates 110 Wilsons Leather and 89 G.H. Bass footwear and accessories stores, is closing all of them, retrenching essentially to the wholesale-only business.
• Neiman Marcus is in bankruptcy but has not announced if any of its 44 full-lines stores might close, but it is shutting down its 22 off-price stores, which operate under the Last Call nameplate. Again, like Tuesday Morning, the shopper may not notice the difference that they are running going out of business sales.
• L. Brands , which owns Victoria’s Secret and Bath & Body Works and was in the late stages of a deal to sell the former to concentrate on the latter is instead holding on to both brands. But it is closing 250 Victoria’s Secret stores and 50 Bath & Body Works locations in North America. Some retailers in bankruptcy procedures, like J. Crew and Aldo, have not announced any store closing numbers yet but history would suggest they will eventually close large numbers of individual locations in their reorganization plans.
None of this accounts for additional units retailers in Chapter 11 may eventually decide – or be forced – to close once the debtors’ committees, attorneys and judges have their say.
Smart people won’t want all your China garbage that your giving away!
And yet, the stock markets are up. Go figure. (You'll likely need a cookbook.)
People either forget or do not know that many of these stores were having finanacial difficulties before the trump virus caused the trump recession. Many of these stores were carrying such a high debt load that they could do nothing but fail when sales dropped due to the virus.
Retail expansion created companies that were to big to fail as fast as they should. The had enough assets to bleed to death over years. After this perhaps drawing few customers will be recognized as serious.
I really feel sorry for small business that can not weather this storm. However, if a large corporation cannot weather three months of this they really have issues. This is a corporate natural selection for them. And yes, I do realize it still represents jobs and that sucks.
никогда не понимал, как они планировали получать прибыль?
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Source: BusinessInsider - 🏆 729. / 51 Read more »