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How Many Of Your Favorite Stores Will Be Closing Due To Economic Slowdown?

Updated on November 19, 2008

Use Up Those Giftcards

As we all know many businesses are closing due to the slowing economy. But that does not have to always mean bad news for you. Do you ever get giftcards for Christmas or on your birthday? I know I do and I usually just toss them in my purse and forget about it.

Its a great time to use them because there will be many stores with sales and low prices. Plus giftcards are just like money so you may as well spend them. Its better than throwing them away right?.....right! It is never too early to get started on your Christmas shopping.

So this is a small list of some of the latest closings and cutting back retailers are doing.

  • Anne Taylor closing 117 stores nationwide.
  • Eddie Bauer to close 2 or more outlet stores by the end of this year. They have already closed 27 shops in the first quarter.

  • Lane Bryant, Fashion Bug, and Catherines to close 150 stores nationwide.
  • Talbots will be closing ALL of its 78 kids and mens stores this fiscal year.
  • Gap closing 85 stores. They also own Old Navy and Banana Republic. Most closings will be weighted toward The Gap only and are planned for this fiscal 2008.
  • Foot Locker to close 140 stores - all planned for fiscal 2008.
  • Wickes - is a 37 year old furniture store and they are closing all of their stores and will be out of business.
  • Home Depot to close 15 stores.
  • CompUSA IS CLOSED
  • Macy's - 9 stores
  • Pacific Sunwear closing 150 demo stores
  • Pep Boys - 33 stores
  • J.C. Penny, Lowe's and Office Depot are scaiing back - didnt say how many they will be closing.

  • Sharper Image - closing 90 of its 194
  • KB Toys - 356 stores
  • Levitz has been around since1910 and will be closing all 76 of its stores and are going out of business.

Again this is just a FYI. Many stores would not give the exact locations of the closings. But did say those stores would find out more in the next few months.

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    • profile image

      thomas horne 

      9 years ago

      remember who voted for him

    • profile image

      Maxine in Portland, Or 

      9 years ago

      Lately it seemed as thought stores did not care about customer service. They all had the idea that "if you don't like it, don't shop here". Well, Well, Well guess what, we stopped shopping there! In the Columbia Gorge a hotel has closed and although it was a nice place with a lot of history, these places get a bit full of themselves, thinking that they are "all that" and charging huge prices. Perhaps if they were a bit more reasonable with there overnight rate, they might still be in business, I don't know, just a thought........THE MIDDLE CLASS IS WHAT KEEPS THIS COUNTRY GOING, WE HAVE SHIPPED OUR WELL PAYING JOBS OVERSEES, WE SUPPORT CHINA BY SHOPPING AT WAL-MART, THE USA DOES NOT MAKE ANYTHING ANYMORE, HOW CAN WE SURVIVE?

    • profile image

      Robert Tarantino 

      9 years ago

      There is one good thing, at least, about these store closings: The status quo is going to change. It won't be business as usual for these or other companies.

      I think the next generation of companies that step in to take up the slack will have an opportunity to learn from the mistakes of the KB Toys, Circuit Cities, Wickes Furnitures, Linens -n- Things, Footlocker, etc.

      They'll hopefully run a tighter ship, keep their finances in order, provide new and better services to consumers; at a reasonable price of course. But most important, stop treating the consumer like an idiot (even if the consumer is an idiot)

      Remember retailers, no matter how big you think you are, you're still at the mercy of the consumer. So shape up or close down.

    • profile image

      Mark of Los Agneles 

      9 years ago

      This just in OFFICE DEPOT to close 112 stores.

    • Ashley Tyler profile imageAUTHOR

      Ashley Tyler 

      10 years ago from Oklahoma

      Yes each day on the news we hear of more and more places going under. It seems like there is no end in sight.

    • Lisa Nance profile image

      Lisa Nance 

      10 years ago from North Carolina Mountains

      It's down right scary to think of all those lost jobs! I really hope the Old Navy in my town doesn't shut down. Thanks for the list Ashley.

    • jim10 profile image

      jim10 

      10 years ago from ma

      Everything is just disappearing. A lot of these just kept building places everywhere since times were good and everyone was shopping. None thought about what was actually reasonable and what they could handle. Sharper Image was always way over priced. Lots of people would go in and look around. Very few people bought anything. I do most shopping online if I can. It is usually cheaper even with shipping. Don't forget Circuit City they are doing horrible. Everyone prefers Best Buy instead.

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