<p>I found this article on line that I thought some of you might find useful. I was doing a search on retail stores that I’d heard through the grapevine were in trouble… of course the people who told me were CERTAIN these stores were on their way out: Borders, Pier 1, and Linens and Things. So far, the ones around us are all still open and advertising strongly in our market.</p>
<p>Anyway, I think it’s an important reminder for everyone that, if you have gift cards laying around that someone got you, or your kid for graduation (if it’s to a specific store as opposed to a Visa gift card), it’s wise to use it if that store is on any watch list. This article mentions many, many stores (article is from late April 2008):</p>
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<p>CC doesn’t allow links to blogs, but if you google gift card alert, you can easily find the source of this entry. </p>
<p>For myself, there isn’t a store listed that I couldn’t live without, although I’d hate to see Nine West and Linens N Things go. If Michael’s went under, it would make certain things more difficult to find, but I’d find other resources.</p>
<p>If I had been asked which chain was the next to close down, I would pick the one I liked the least. And I am sure many others voted the same way, so I am not taking these survey results very seriously.</p>
<p>I wouldn’t take that list at all seriously – I can see many businesses downsizing because of the economy, but I would be amazed if most of those places went under. </p>
<p>However, I can confirm Linens N Things is in trouble – they opened a huge store near me within the last 18 months, and last week I stopped by to pick up some items and the store was having an everything-must-go, going out of business sale – which I thought was very odd, since the store was so new. (Even if sales were bad, I think management would give a new location some time to gain traction in the local community).</p>
<p>Not Nine West!!! Please, nobody tell my shoes…</p>
<p>I also find it weird that Gap and Old Navy are on the list, but not Banana Republic. Aren’t they all owned by the same parent company? I would have thought that if two of the main staples of the parent company were in dire situations, that the third would be on the watch list as well. Unfortunate, as I love Banana Republic('s clearance racks).</p>
<p>You can just research financials online of the various companies. For example, this does not look good for Linens N Things:
See [Linens</a> 'n Things - Investor Relations - Press Releases<a href=“The%20fact%20that%20they%20are%20in%20Chapter%2011%20bankruptcy%20is%20not%20a%20good%20sign…”>/url</a></p>
<p>Our Linens N Things is going OOB. Last I checked they were still only at 25% off though. I am dying for an expensive pump style espresso machine!! I will not pay more than 50% of regular retail though so I wait…</p>
<p>I’m sure the AOL subscribers have a lot of insight into the financial condition and management competency of these chains. I would be a lot more likely to believe what is reported in the Wall Street Journal. It’s been known for some time that Linens is going down, but Gap? Don’t think so. There may need to be some serious change in strategy (for the millionth time) and some store closures, but that chain is not headed for bankruptcy.</p>
<p>We had 3 Borders within a 20 minute drive from where I live. One of the larger ones is now closed. I found out when I went to the store to use a coupon (sigh). At least I did not go out of my way to get there.</p>
<p>Some of these chains may close stores, as Starbucks is doing, but many of them, such as Starbucks, will survive.</p>
<p>About 5 years ago, people predicted the end of McDonald’s. This was when they tried pizza, and some other items that strayed away from the burger/fries/shake motif. They closed some stores, realigned themselves with their core product lines, and they’re doing just fine. I think a lot of chains will do the same. They may be smaller, but they’ll survive.</p>
<p>Starbucks just came to our city within the last two years. Rite Aids are being built here and just purchased another chain. Old Navy is just breaking ground for a second store. K-Mart, Jo-Ann’s, and Wilson’s have closed stores. Sears, Radio Shack, Children’s Place, Office Depot and Gap appear to be struggling. We just closed an entire mall this month, but two smaller malls (outdoor concept) sprang up in the 'burbs within the last 3 years.</p>
<p>Blockbuster just bought Circuit City but despite that I think Hunt is probably right. Even w/ trying their own Netflix type service I just don’t think they can compete and w/ Redbox getting more popular the demise of Blockbuster seems imminent.</p>
<p>I always try and shop locally, that means investing my money in a business that will put it back into the community, not into a headqtrs 5 states away.
I have bought gift cards @ Starbucks, usually for teachers at the end of the year, Starbucks of course is based in Seattle, but their coffee is not so yummy.</p>
<p>Never go to Blockbuster- not with itunes and a neighborhood video store two blocks away.
Jo-anns we go to quite a bit, as my daughter makes crafty things for her friends, and sews, no other fabric stores around.
Seattle has lots of bookstores as does the northwest, - Borders isn’t really needed- there may be one downtown.
Gap could easily be morphed into old navy/banana republic- we really shop at Jcrew more often- similar stuff, better colors.
Radio Shacks are all over- as are Sears & Starbucks- when you have stores across the street from one another, it is only a matter of time before you say Well- duh! do I need this?
Office suppliers as well- I can see consolidating- they are duplicating product-The stores that sell speciality items- like leather jackets I can see closing as well- not ecofriendly- unfashionable & stinky. stinky Applies to the Hallmark stores too- there was one about 15 years ago in our neighborhood, but perhaps the people who were buying that stuff ran out of room?
It makes sense that some of these businesses will have to fold, how many stores do you need that sell t shirts and jeans or printer ink?</p>
<p>EK, that neighborhood video store will close, too.</p>
<p>I don’t think so- it is always packed with local software geeks and it has been able to target their market.
[Mark</a> Vrieling’s Rain City Video spawns a successful sequel with ScreenPlay Inc. - Puget Sound Business Journal (Seattle):](<a href=“http://www.bizjournals.com/seattle/stories/2004/09/20/smallb1.html]Mark”>http://www.bizjournals.com/seattle/stories/2004/09/20/smallb1.html)
It makes a huge difference to shop in your neighborhood where both the customers and the workers spend their time. You see them at the local block party and at the corner pub. I suspect as we begin cutting back on our entertainment expenditures, no more going to Cirque de Soleil in Vegas, but we can go up the street and watch 8 episodes of * Swingtown* for 3 days for $3.
I used to use Netflix, but by the time I got the movie, I wasn’t in the mood for it-
I also don’t think we should underestimate the worth of a small neighborhood store where the workers give your dog treats and you can give advice to young couples looking for something to watch with their 5 year old.
<p>I think that is one reason why Starbucks became so popular. We could already make coffee at home- ( better too with a french press), but we need a place to be around other people. We like to sit and watch people, we like to talk to those we buy things from. Perhaps if we spend 70 hours a week commuting and working, we don’t want to go out again, and are happy ordering everything online from soup to nuts ( since gas has become so expensive, my H even walks to the grocery store)</p>
<p>I have also been running into more people who are becoming less comfortable ordering online, they don’t like that everything is being tracked & some are even getting to the point where they pay cash. Additionally, while we are a fairly high sales tax area ( 8.9%), I enjoyed being able to bypass that, when I ordered from a company like LL Bean, that didn’t have a physical presence in my state.
Now that has ended, I am less likely to shop online.
[Buying</a> online? State sales tax now awaits](<a href=“http://seattlepi.nwsource.com/business/369058_salestax01.html]Buying”>http://seattlepi.nwsource.com/business/369058_salestax01.html)</p>
<p>yes, they are still accepting them, as well as any from BB&B that you have.</p>
<p>I agree with the prophecy about video stores being obsolete in the next ten years (or less). I finally had someone walk me through the sign up for Amazon UnBox yesterday (we just got our TiVo two months ago); why on earth would I ever want to deal with going to a rental store anymore… and it takes care of the losing the desire to watch a movie you ordered two days ago from Netflix. Haven’t ordered one yet (waiting for a rainy day); has anyone used UnBox and how do they like it?</p>
( since gas has become so expensive, my H even walks to the grocery store)</p>
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