It’s no secret that certain restaurant chains are in trouble. Forbes gives us a graphic reminder of some of those facing closures. Included in its pictorial are Country Kitchen, Damon’s Grill and Black Angus Steakhouse.
Archive for the 'store closings' Category
Movie Gallery is closing its remaining 2,400 namesake and Hollywood Video stores after filing for bankruptcy last year. New technology, such as streaming video, and rivals like Netflix, are killing off brick and mortar movie-rental outlets.
Landlords could have a similar announcement by rival Blockbuster Inc. to look forward to in the future, as that chain deals with similar problems.
Continue reading ‘What Will Replace Movie Gallery Stores?’
Charming Shoppes, the owner of the plus-sized women’s Lane Bryant, Fashion Buy and Catherines chains, will close between 100 and 120 underperforming stores this year, management revealed with its fourth-quarter results. The news comes as same-store sales dropped 12% during the period.
In the last year, Charming Shoppes closed 152 stores. The company currently operates just over 2,100 units across the country.
Continue reading ‘Charming Shoppes Closes More Stores’
Saks will close “a few stores” that are underperforming and have expiring leases, according to CEO Stephen Sadove speaking at a recent investor conference. Saks will not be breaking any leases because of the high costs that process involves, he says.
Sadove didn’t specifically name any stores it will shut, but yesterday the company announced that it will close two stores in Portland, OR’s Pioneer Place Mall, which is operated by General Growth Properties.
Continue reading ‘Saks Will Close Stores’
Williams-Sonoma will close stores in larger markets where it operates a high unit count, executives said last week at an investor conference.
“Our strategy for store closings is to optimize our cost per square foot,” CFO Sharon McCollam was quoted in the Wall Street Journal. The goal is not closing stores per se.” She offered no specific locations for closure.
Continue reading ‘Williams-Sonoma Shrinking Store Count’
French Connection Group doesn’t have a large US store presence, but the one it has will get a lot smaller. The British apparel retailer is closing 17 of its 23 stores here after posting a fiscal-year loss.
While its store count isn’t large, nearly all FCUK stores are in prominent locations in the US, either in the most dominant mall, urban shopping area or outlet center in their locales.
Continue reading ‘FCUK Will Close Most US Stores’
Department store sales are improving and many of the big chains are doing a good job controlling inventories after a dismal start to the recession. But for this to continue, they’re probably going to start closing some doors, according to one analyst.
“We’ll see more stores close than open in 2010,” says Walter Stackow, who follows retail for Manning & Napier, in a Reuters interview.
Continue reading ‘Department-Store Closures on the Horizon’