Retailers that will go bankrupt in early 2009 (buy, tax, money)
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I guess the real interesting question is what we do with all of this retail space once the retailers go bankrupt and close. There is going to be A LOT of huge, empty buildings that will be available for rent or purchase at pennies on the dollar when all is said and done.
I suspect many of them will be downgraded to thrift stores, dollar stores, and flea markets, which will hardly help property values in surrounding areas. Many more will probably just sit empty.
I have no idea what the company bottom line looks like for Home Goods, but i'm still amazed that they're still in business. I'll guess that they will go under next year.
HomeGoods is part of the TJMaxx, Marshalls group of stores.
I seriously doubt they are going under.
I was astonished recently when I went for an oil change at Jiffy-Lube. The store in my town is gone - just a vacant building! Now I have to find another place for an oil change, probably 2-3 towns away from where I live. Bummer.
I guess the real interesting question is what we do with all of this retail space once the retailers go bankrupt and close. There is going to be A LOT of huge, empty buildings that will be available for rent or purchase at pennies on the dollar when all is said and done.
Homeless shelters. A little lumber, some drywall, and community shower stalls. An industrious person with friends at the zoning commission could make a lot of money renting one room efficiencies.
What retailers do you think will be on the chopping block after the first of the year?
I think Circuit City is obvious. I will be surprised if Linens and Things hangs on. There will be some folding or consolidation of department store chains, which ones, I don't know. None of them look too hot. There will also likely be a thinning of the herd in the teen mall retailer genre (think Abercrombie, Aeropostale, Hollister, etc). There are two many stores selling the same stuff. Opinions?
Sears for one
Quote:
Originally Posted by GregW
I think the boutique stores in the affluent areas will stay quite busy. Where do you think the Bailout and Son of Bailout money is going to be spent?
NPR did a piece on the boutiques in upper Manhattan. Seems they are not doing well at all and quit a few are going out of business.
I guess the real interesting question is what we do with all of this retail space once the retailers go bankrupt and close. There is going to be A LOT of huge, empty buildings that will be available for rent or purchase at pennies on the dollar when all is said and done.
I saw on the Today Show yesterday that Mervyn's has already declared bankruptcy.
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