Retail Bailout? More Retailers File Bankruptcy
In December, Suprime Blogger wrote about the Commercial Real Estate Collapse and its possible effects on mortgage interest rates. Since then, almost every since retailer has cut jobs and reduced their outlook for the year. Even retail giant Wal-Mart has had to cut jobs in efforts to increase profits.
In 2009, we are very likely to see mass retail closings. Some of the retailers that could file bankruptcy include:
- Nordstrom
- Neiman Marcus
- Tiffany
- Jeweler Zale Corp.
- Saks
- J.C. Penney
- Sears
Who would have ever guess that Saks, Nordstrom, Tiffany and J.C.Penney could all file Chapter 11 Bankruptcy in the same year. It was predictable by some such as Gerald Celente and Jim Rogers, but many were not willing to listen. Today we realize that any company selling items that are not a neccessity is in trouble. Watch out Coach, you may be the next in bankruptcy.
Other names that we are likely to hear about in the next twelve months are RadioShack, Bed, Bath and Beyond, Borders, Kirklands and Williams Sonoma. If any of these companies filed Chapter 11 bankrupcty, it would not be surprising at all.
Americans realize that in this tough economic time that it is the consumer staples that they need. The necessities such as food, shampoo and toilet paper. Good luck trying to sell any time of home or body accessories.
Comments
One Comment on Retail Bailout? More Retailers File Bankruptcy
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Nashveggie on
Fri, 20th Feb 2009 11:19 pm
Where did you get Williams-Sonoma out of the fray? If you weren’t aware they operate as a debt-free company.
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