Ritz Camera
2009 Store closures: 365
Outlook: Almost half the company's stores have shut down following a bankruptcy last year. The company has since been bought by private investors who continue to operate 375 stores as Ritz Camera & Imaging.
See the full list of Who's Closing Stores In 2010?
Waldenbooks/Borders
2009 Store closures: 110 (Q4 2008 to Q3 2009)
Outook: Amazon.com continues to wreak havoc on traditional booksellers. The Borders unit says it will close an estimated 240 stores during the three months ending January 31, for a total of 350 stores over the past 13 months, close to 70 percent of all outlets. Retail analysts at Davidowitz & Associates give Borders Group, plagued with losses three years running, a 50-50 chance of survival.
Blockbuster
2009 store closures: 300
Outlook: Part of a two-year plan to close 960 stores, about 13 percent of Blockbuster's 7,100 locations in the Americas. The company is trying to reformulate with kiosks and on-demand services that focus on hot new releases, but experts say the costs associated with the transformation will be too expensive to pull off without a bankruptcy. Shares have plunged from $10 to under a dollar a share since 2005.
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For many years Blockbuster took advantage of it's customers with high rates, fines and penalties...Now Netflix and others are eating it's lunch...I feel bad for the workers but when you burn your customers they stop going in...Now they're trying to play ball and make it cheaper.
ReplyDeleteErrrmm TOOOOOO LATE.
Hollywood video is also on the list. They have been screwing people for years with high prices. I went there for the first time in months this last weekend. They are now renting Blu-Ray movies for $1!!!! Talk about too little, too late. They won't last long.
ReplyDeleteNoodles123-
ReplyDeleteSo we have a question? If a business model is bad should we feel bad if it closes? I mean most of the huge stores including Sears are crap...Wasteful...If they crash, people lose their livilihoods but were their jobs based on being in a position that was fake?
It's easy for me being employed to say "Well break the company down and improve it." The problem is what will ALL these poor people do without jobs in what appears to be the worst job market ever seen by my generation? (Gen X)
Don't even get me started on Gen Y...Those kids are f@#%ked...Plus most are too lazy to tie their shoes or comb their hair.
I had a business and it takes hard cold choices to run it at times...But what happens if ALL the businesses make hard choices?
We go into a whole Robocop/V for Vendetta/Blade Runner world...Just masses of poor with a few rich.
I cant believe starbucks is still open - what crazy people are still paying 4 dollars for a cup of coffee ? I guess the bankers are...
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