Home | Register | Contact | Verify Email | FAQ |
Blogs | Photo Gallery | Press Release | Results | HoseheadsClassifieds.com


Welcome Guest. Already registered? Please Login

 
Blogs


Submit a New Blog
Borders Folds
Blog Submitted by hjizhi on 11/22/2011 at 6:41 AM Report Blog

 

Borders said Monday it will close its remaining 399 stores and sell its assets to a liquidation firm. The No. 2 U.S. bookstore chain, which has operated under bankruptcy protection since February, blamed industry challenges, e-readers and the economy for its demise. Borders joins Blockbuster, Circuit City and Linens n’ Things on a list of retailers with more than $1 billion in assets that have succumbed to bankruptcy in soccer jerseys wholesale recent years. Many stronger chains, including Ann Taylor (ANN: 27.95, -0.13, -0.46%) and Starbucks (SBUX: 39.83, -0.49, -1.22%), have shuttered underperforming stores to bolster profits. Others like Wal-Mart (WMT: 53.89, -0.08, -0.15%) are focusing on smaller store formats for future openings. At shopping centers nationwide, the vacancy rate recently hit a two-decade high.

Even liquidators are liquidating. On Tuesday, Ontario-based closeout chain Liquidation World, which exited the U.S. last year, sold its remaining operations to Big Lots (BIG: 34.65, 0.52, 1.52%) for a scant $20 million, or less than $225,000 per store. Which remaining retailers are vulnerable? There are two ways to English Premier League Soccer Jersey answer that question. The easiest way to find companies with near-term liquidity concerns is to look for ones with credit ratings that suggest vulnerability — for Standard & Poor’s ratings, CCC and worse. But such ratings are uncommon. Sbarro and Perkins /Marie Callender, restaurant chains rated D, filed for bankruptcy in April and June, respectively.

Barneys is rated CCC with a “negative” outlook, suggesting its rating may be lowered. It has a strong brand but a small store base, a narrow market, heavy debt and “very thin” credit protection measures, according to S&P. Founder Barney Pressman’s family lost control of the designer clothing chain in Arsenal Soccer Jerseys 1998 and following a bankruptcy and brief ownership by Jones Apparel Group, it was sold to Istithmar, an investment vehicle of Dubai government, which has larger concerns than Barneys, including those palm-shaped islands it built when its real estate

Beyond companies with near-term debt concerns are many with long-term operating challenges. Here are a few that aren’t in financial trouble but are struggling to find new customers and turn profits: Build-a-Bear Workshop (BBW: 6.15, -0.08, -1.28%) has a cash surplus, but its sales are shrinking and profits have disappeared. Perhaps it can do without the Fifth Avenue store in Manhattan that’s bigger than Apple’s nearby flagship. Zale (ZLC: 6.47, 0.48, 8.01%) shares sells for about what they did in 1994. Back then the with Nike arsenal away football shirt mall jeweler turned a yearly profit of $21 million. Over its last two fiscal years it lost more than $250 million, and more sizeable losses are projected for this year and next. Frederick’s of Hollywood (FOH: 0.67, 0.01, 1.52%), it seems, still exists. Last week, the maker of the Extreme Cleavage bra announced the opening of a flagship location in Abu Dhabi. The company’s income statement is anything but flattering, with steep losses showing since 2007. The entire business is valued at about $25 million.

Blog Reply
You must be logged in to Post a Reply.
Not a member. Register Here.
Already registered? Please Login




 

If you have a website and would like to set up a forum here at HoseHeadForums.com
please contact us by using the contact link at the top of the page.

© 2025 HoseHeadForums.com Privacy Policy