Posted Date: 5/27/2008
The Big Squeeze: 10 More Chain Stores Closing Their Doors
Memorial Day kicks off summer, but so far this year retailers have not enjoyed much sun and fun.
It's not just the economy that is driving store closures. Other factors include sky rocketing fuel prices, increasing costs of just about everything and consumers being squeezed by the falling housing market and layoffs.
In addition to store closings and filings for bankruptcy by retailers that RIS has previously covered, the current list includes Dillards, Disney Stores, Kirkland's and Saks.
Big Dollar: closing 10 of its stores
Dillards: closing six retail locations, as well as its Louisville, Kentucky-based distribution center
Disney Stores: closing 98 stores
Friedman's Jeweler's: closing 120 stores, currently going through bankruptcy proceedings
Kirkland's: already has closed 30 of its stores and is considering closing up to 100 more stores
Lillian Vernon: online and catalog retailer filed for bankruptcy in February, attributes that rising shipping and inventory costs cut into profits
Linen's and Things: closing 120 stores, filed for chapter 11 bankruptcy protection on May 2, 2008
Saks: closing its Fort Lauderdale, Florida-based store
Urban Interiors & It's Gotta Go: closing its only two Seattle, Washington-based stores
Wickes Furniture: closing 38 of its stores
For related stories on retail store closings click below:
Sign of the Times: 6,000 Retail Store Closings in 2008
Retail Bankruptcies and Store Closings Sign of Grim Economy