Which Stores Are Closing Down In 2010.
I just found out that the Borders Bookstore in my neighborhood is going out of business. It kinda sucks because it is the only bookstore within a very close distance and I thoroughly enjoy spending time in there looking for new books to pick up. Of course, this is after the Circuit City left a vacant building here too and the shoe store has a “Going out of Business” sign on its front door, so it’s really not all that surprising. But it got me thinking about what kind of situation a store must be in to actually close it’s doors, which in turn led me to an article online about who was closing stores in 2010. Wow, what an eye-opener…
Borders Books – closing an estimated 200 stores during the three months ending January 31.
Blockbuster – could be closing another 600+ stores this year in addition to the 300 they closed in 2009.
Jones Apparel Group – will be closing 196 stores in 2010.
Starbucks – interested in closing 250 stores this year in addition to the 566 last year. (Then again, this isn’t a bad thing – we don’t need a Starbucks on every single corner in America)
The list also has information on previous closings and their outlook for the future, which was pretty interesting. Seems stores have to be in really good shape, both financially and by location, in order to survive this economy. What are you seeing in your area? Are stores doing just fine, or are they starting to be hit hard?
I live in a suburb of Kansas City. Our suburb is adjacent to another in such a way that it seems like one town with a combined population of about 45-50K. Here we have seen Quiznos sub shop, Office Depot, a small grocery, and a few small restaurants close within the last year. On the other hand, a new Shell gas station, IHOP restaurant, Culver’s Burgers, a few small restaurants and a large grocery have opened in that time. We also had a very large auto auction relocate to our town. Our Starbuck’s and Blockbuster are still open.
I have heard rumors several times in the last six months that another grocery will build a new building, that Best Buy will be moving into town, and that the Sam’s Club a few miles up the road will relocate to our area.
Around here (eastern PA near Easton), it appears the national chains are taking advantage of the drop in real estate pricing to build/open new locations. In the past year we lost a Redners Supermarket (because Wegman’s had opened up across the street several years prior) and a Quizznos that wasn’t in a great location. Other than that, it seems to be build, build, build. In the past year or so we’ve had a hotel, several chain restaurants, and several chain stores build/open new locations. There’s even a new local diner that seems to be doing very well.
Blockbuster was a gimmie but a little surprised with Borders, thought they were doing better.
I live in the suburbs of Atlanta and most of the stores in my area seem to be doing well. The one thing I have noticed is that a lot of furniture stores are going out of business. I guess people are holding on to their furniture a little bit longer.
It happened a little while ago, but Linen’s & Things closing was awful.
That was a great store!