Closing Chain Stores… Goody’s, Zales, Talbots and Others

OMG what is happening? Looks like allot of chain stores are in trouble. Gas is going up and anything that uses gas is making prices of those items go up means that people don’t have that disposable money. It could also be that some of these stores just over built and now they have too many stores… but any way, here is some (just SOME) of the stores that are either closing their doors forever or closing different stores locations across America

Store: Goody’s Family Clothing
Stores Closing: 103
Why? Tennessee-based Goody’s announced June 9 that it was filing a voluntary petition for Chapter 11 bankruptcy reorganization in Delaware, where the company is registered.

Store: Ann Taylor
Stores Closing: 117
Why? At the end of January, Ann Taylor announced plans to close 117 underperforming stores by 2010, in an attempt to make the retailer “more agile,” according to CEO Kay Krill.

Store: Linens ‘n Things
Stores Closing: 120
Why? Its Chapter 11 bankruptcy filing on May 2 included news that it would close 120 underperforming Linens ‘n Things stores.

Store: Disney Store
Stores Closing: 98
Why? At the beginning of May, The Walt Disney Co. announced it was assuming management of 220 Disney Stores in North America, which had been run by Children’s Place. Disney plans to close 98 of the stores in the U.S. and two in Canada.

Store: Fashion Bug
Stores Closing: 150
Why? In early February, retailer Charming Shoppes announced it would shut down 150 underperforming stores, including 100 Fashion Bug stores, 4 Petite Sophisticate stores, and the remainder a balance of Lane Bryant and Catherine’s stores.

Store: Sprint Store
Stores Closing: 125
Why? The wireless carrier announced in mid-January that it would cut 4,000 jobs and close 125 Sprint stores, reacting to a steep drop in its customer base.

Store: Sharper Image
Stores Closing: 90
Why? As it navigates its way (with a battery-powered Swiss army knife, no doubt) through Chapter 11 bankruptcy, gadget and gift retailer Sharper Image plans to close about roughly half of its 184 stores.

Store: Talbots
Stores Closing: 78
Why? At the beginning of the year, Talbot’s announced that it would shut down 66 Talbots Kids and 12 Talbots Mens stores by September, costing 800 employees their jobs.

Store: Zales Jewelers
Stores Closing: 105
Why? The poor economy is taking its toll on luxury vendors and so the jeweler is closing 50 kiosks and 55 full-size stores — leaving it with 2,145 locations.

Store: Saks Fifth Avenue
Stores Closing: 1
Why? The Saks Fifth Avenue store in the Galleria Mall in Fort Lauderdale is the only one of 54 on the sales rack in this round of cutbacks � the company hasn’t shed stores since it closed eight in 2004.

Source: AOL Money and Finance

There are about 36 different stores mentioned. I was surprised Saks Fifth Ave was there but then again, I wasn’t aware that they had other stores at different locations.

Link: Apparel Chain Goody’s Files Chapter 11 – AOL Money & Finance

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