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9 Companies On The Ropes In 2011


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#1
kar522

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9 Companies On The Ropes In 2011

Whether because of dated products, broken business models or off-target strategies, a lot of notable companies are struggling as they enter the new year. Consider the plights of Sears, Barnes & Noble, Kodak and these 6 others

I don't think anyone posted a 2010 list, but here's 2009

http://www.bargainsh...w...=157381&hl=

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#2
kar522

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I know I've not been inside a Borders or B&N for several years (and that was to buy a DVD)...I guess I should take the grandkids so they can experience a visit before it's too late...

Will It be A Merry Christmas For Borders, Barnes & Noble?


Holiday shopping season seen as decisive to survival of bookstore chains

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#3
kas

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I know I've not been inside a Borders or B&N for several years (and that was to buy a DVD)...I guess I should take the grandkids so they can experience a visit before it's too late...

Will It be A Merry Christmas For Borders, Barnes & Noble?


Location, location, location or what some don't want to admit. Given that some of these book chains are located in urban/suburban malls has become a big negative. Unless mall management has a strict policy againt the youth of our society, especially the hip hop crowd, older adults will avoid certain malls like the plague. Regionally, there has been a trend back to the strip mall with usually a chain grocery store as the anchor. IMHO, a real negative is that too often the developer(s) relies on tax breaks from local officials and businesses like Borders/B&N don't pay most employees a decent hourly wage.
Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#4
kar522

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Location, location, location or what some don't want to admit. Given that some of these book chains are located in urban/suburban malls has become a big negative. Unless mall management has a strict policy againt the youth of our society, especially the hip hop crowd, older adults will avoid certain malls like the plague. Regionally, there has been a trend back to the strip mall with usually a chain grocery store as the anchor. IMHO, a real negative is that too often the developer(s) relies on tax breaks from local officials and businesses like Borders/B&N don't pay most employees a decent hourly wage.


I am not afraid of going to the mall at all...the local Borders is free standing, but the location is a bit far away for me to make a special trip...I have found that it's cheaper to buy books online...especially the Amazon 4 for the price of 3 sale
AOL's predictions...

10 American Companies That Will Disappear in 2011

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If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

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#5
crimson

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I have found that it's cheaper to buy books online...especially the Amazon 4 for the price of 3 sale

Yup, same here.

Back in the old days, I hung out regularly in bookstores, especially when I was in Cambridge. But over the years, many bookstores disappeared and Amazon grew. Then I became more frugal, now get my books at the library & only buy for gifts. For buying, Amazon wins hands down over Borders or B&N.
Equal rights for all in every state

#6
kas

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My last two visits to a JCP store convince me they are one, perhaps two steps, above a Kmart.

Plano-based J.C. Penney to close 26 stores

J.C. Penney Co. said Monday it plans to close 26 stores, including 20 outlet stores that are fed by its catalog business which has been in the process of shutting down since 2009.

Penney also avoided a looming proxy battle by adding to its board its two largest shareholders William A. Ackman, founder and chief executive of Pershing Square Capital Management, and Steven Roth, chairman of Vornado Realty Trust. They will join the board in February and will influence the addition of a third new member soon. The two announced last fall that they had acquired 26 percent stake in Penney. Penney’s board expands from 11 to 13.

Penney also said Monday that it plans to close two call centers, a custom decorating factory and reduce the number of in-store customer decorating departments to 300 from 525.

More on this story J.C. Penney Co. said Monday it plans to close 26 stores, including 20 outlet stores that are fed by its catalog business which has been in the process of shutting down since 2009.

The Plano-based department store company didn’t say how many employees are affected. It does expect the moves to add to earnings in 2012 and result in charges in the fourth quarter 2010 than ends this month and in 2011.

The moves reorganize Penney “to focus on its highest potential growth opportunities by reducing investment in areas of the business that no longer contribute meaningfully to its financial performance,” said Penney chairman and chief executive Myron “Mike” Ullman.

“We see significant opportunities ahead in our core department store and online businesses as part of our long range plan,” Ullman said. Those plans include the launching this year of two new online stores and a chain of men’s big and tall stores, all under new brands.

Penney’s reorganization includes:

• Closing five J.C. Penney department stores located in Morrow, Ga.; West Dundee, Ill.; Des Moines, Iowa; High Point, N.C.; and Culpeper, Va.; and one J.C. Penney Home Store located in Duluth, Ga.

• Completion of the wind down of its catalog business, including exiting its catalog outlets. 19 outlet stores will close in 2011 and 2012. It’s also closing one furniture outlet in Rancho Cucamonga, Ca.

• Closing call centers in Grand Rapids , Mich. and Albuquerque, NM.

• Reorganization of its custom decorating in-store departments to 300 from 525 and shutting down its Sacramento, Ca factory.

On the addition of Ackman and Vornado, Ullman said, they “share our passion for operational excellence and we look forward to benefiting from their expertise.”

http://www.dallasnew...e-26-stores.ece
Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#7
kas

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http://www.youtube.c...h?v=Cv5qLEYoSHM

Borders may seek bankruptcy protection next week

Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#8
kas

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Borders files for bankruptcy, to close stores

Three of nine local B&M are scheduled to close.

Borders in Ballwin, Chesterfield and St. Peters slated to close

Edited by kas, 16 February 2011 - 11:41 AM.

Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#9
kar522

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From the original article...

Sears Can't Right The Ship
Sears Holdings (SHLD) continues to stumble. Sales at stores open more than a year declined 8% in the third quarter. Shoppers continued to favor competitors like Wal-Mart Stores (WMT), Target (TGT) and Kohl's (KSS) over Sears and Kmart, which merged in 2005. "They can't seem to get their merchandising act together," says James Angel, professor of finance at Georgetown University's McDonough School of Business.

Sears, which was also on a list of "companies that may not see 2020" I made a year ago, almost implicitly conceded its stores have problems by recently deciding to sell Craftsman tools and DieHard batteries through other retail channels.

A potentially bullish side to this story is that Edward Lampert, who's got a reputation as a savvy investor, still owns about 60% of Sears through his hedge fund ESL Investments. On the other hand, he's had years to turn this retailer around since saving it in 2004, to no avail. If current trends continue, not even a DieHard will be able to jumpstart this retailer.



Sears May Not Welcome New State Street Neighbor, Target

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If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

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#10
crimson

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Borders files for bankruptcy, to close stores

They are closing 200 stores nationwide, incl 6 in MA. The stores closest to me are staying open, at least for now.
Equal rights for all in every state

#11
kar522

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:rolleyesold:

Edited by kar522, 19 March 2011 - 03:22 AM.

Where I am is where I need to be...
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If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

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#12
kas

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Ultimate Electronics a small B&M chain is the process of closing all 46 stores. While it been a few years since I last visit a local store, prices in the weekly ad or in store were never a real bargain. If you have purchase anything with or without an extend warranty from Ultimate Electronics, I would visit a store to get what is going to happen in the future.

Ultimate Electronics chain decides to liquidate

Ultimate Electronics, a home entertainment and consumer electronics retailer partially owned by Hewlett-Packard Co (HPQ.N), has decided to liquidate after filing for bankruptcy protection last month.

In a court filing, Ultimate Electronics said it plans to hold going-out-of-business sales at its 46 stores nationwide to dispose of inventory, saying such sales will offer "the highest and best value" for creditors.

The Thornton, Colorado-based company said it has been unable to obtain financing needed to keep operating. It said its secured lender, General Electric Co's (GE.N) GE Capital unit, refused to let it use cash collateral to buy inventory.

Ultimate Electronics employed about 1,500 people before filing for Chapter 11 on Jan. 26, court records show.

It is the latest retailer to fall victim to the recent U.S. recession and subsequent uneven economic recovery, which also claimed larger rival Circuit City.

Ultimate Electronics also filed for bankruptcy in 2005, when it was bought by investors including by Mark Wattles, who leads private investment firm Wattles Capital Management LLC.

Wattles had been chief executive of Hollywood Entertainment Corp prior to that video rental chain's 2005 sale to Movie Gallery Inc (MVGRQ.PK).

According to court records, Wattles Capital owns about 71 percent of Ultimate Electronics' parent, while Hewlett-Packard owns 25 percent.

Movie Gallery decided last year to liquidate following its second Chapter 11 filing in less than three years.

The case is In re: Ultimate Acquisition Partners LP et al, U.S. Bankruptcy Court, District of Delaware, No. 11-10245.


http://www.reuters.c...028149220110210
Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#13
kar522

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Ultimate Electronics a small B&M chain is the process of closing all 46 stores. While it been a few years since I last visit a local store, prices in the weekly ad or in store were never a real bargain. If you have purchase anything with or without an extend warranty from Ultimate Electronics, I would visit a store to get what is going to happen in the future.



The Davenport store closed years ago...I don't think it was even open for a year...the building is now a church... -anot-

Edited by kar522, 01 December 2011 - 12:42 PM.

Where I am is where I need to be...
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If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

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#14
dejavu

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Borders files for bankruptcy, to close stores

They are closing 200 stores nationwide, incl 6 in MA. The stores closest to me are staying open, at least for now.


We are losing our only Borders store in town. Went yesterday and got some Papyrus cards at 40% off and Paperchase gift wrap (30% off).
Books were only 20% off- those are still the best price at Amazon.
used my handy-dandy iPhone price scanner!
HarleyD ~ Riding with the Angels

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dejavu

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From the original article...

Sears Can't Right The Ship
Sears Holdings (SHLD) continues to stumble. Sales at stores open more than a year declined 8% in the third quarter. Shoppers continued to favor competitors like Wal-Mart Stores (WMT), Target (TGT) and Kohl's (KSS) over Sears and Kmart, which merged in 2005. "They can't seem to get their merchandising act together," says James Angel, professor of finance at Georgetown University's McDonough School of Business.

Sears, which was also on a list of "companies that may not see 2020" I made a year ago, almost implicitly conceded its stores have problems by recently deciding to sell Craftsman tools and DieHard batteries through other retail channels.

A potentially bullish side to this story is that Edward Lampert, who's got a reputation as a savvy investor, still owns about 60% of Sears through his hedge fund ESL Investments. On the other hand, he's had years to turn this retailer around since saving it in 2004, to no avail. If current trends continue, not even a DieHard will be able to jumpstart this retailer.



Sears May Not Welcome New State Street Neighbor, Target


Their prices are simply too high!
HarleyD ~ Riding with the Angels

#16
kar522

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Their prices are simply too high!



And their clothing for adults is almost as blah/blecch as KMart's...whoops...they are KMart, aren't they... :p

Sears Sales Struggles Continue As Fourth-Quarter Profit Slides

Declining sales of appliances and apparel at its namesake department stores cited for 13% drop-off

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#17
kas

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Posted Image
Posted Image


The current TV spot is now 40% off. If the liquidator plays games, watch out off brands (junk) offered at bargain prices. While Ultimate Electronics management has claimed close-out products will come with the manufacturer warranties, do ensure it's the U.S. P&L one. Anyone familar with certain NYC camera and electronics B&M, know how manufacturers view 'gray market' goods.
Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#18
kar522

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Borders files for bankruptcy, to close stores

They are closing 200 stores nationwide, incl 6 in MA. The stores closest to me are staying open, at least for now.


Database

Borders store closings database
Dayton Business Journal
Date: Wednesday, February 16, 2011, 1:37pm EST

Borders Group Inc. has filed for Chapter 11 bankruptcy in New York, reporting debt of $1.29 billion and assets of $1.28 billion. The retailer is closing about 30 percent of its stores nationwide.
Below is a searchable database of the full listing of Borders store closings across the country. The list comes from the bankruptcy court filing and is a public record.

Search by state or leave blank to view all closings. Once the results appear it can be resorted by clicking on any of the column headers to sort by that information.


Nothing listed for Iowa...but there's only 4 stores as it is...I am kind of surprised Dubuque survived the cut, but there's several colleges/universities there, so that might have helped...



Updated list...West Des Moines got the bad news...


Store Closings

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#19
crimson

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Updated list...West Des Moines got the bad news...


Store Closings

My dad won't be happy, the updated list includes the Braintree MA store. It is where dad likes to kill time reading & sipping coffee while mom has a doctor's appointment in the building next door.

I'm surprised they are closing that store, it is always full of folks, while the store closest to my house is empty but not closing. Unless it has more to do with real estate values? The Braintree store is sitting on a piece of land hotly desired by car dealers.
Equal rights for all in every state

#20
dejavu

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AT&T just bought T-Mobile this morning.
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#21
kas

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AT&T just bought T-Mobile this morning.


AT&T-T-Mobile deal may face antitrust test

Did we break up the phone companies in the past in order to get rid of monopolies just to let them merge back together to form new monopolies?


Fill in the blank: Ma Bell is a Mother ****** Bonus Points if you can name the union that encourage their members to wear t-shirts with that statement at work.

Edited by kas, 21 March 2011 - 04:34 PM.

Build the Border Fence


Given a choice, voters in the majority of states have reaffirm The Defense of Marriage Act, each and every time. It was wrong for judges and politicians to enact legal policies that are typically not honored in the majority of states. To be clear to the 'No H8' crowd, many Americans will never except an 'Adam and Steve' union as equal to a traditional marriage. It ain't hatery, they are just living their values.

#22
kar522

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Add one to the list...

Harry & David In Bankruptcy As Gift Sales Fall

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#23
kar522

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Some of these have been discussed...some are new...

10 Retailers Shuttering Stores

Some of these chains are dead, some are dying and some are reinventing themselves to survive -- but their convenient locations near you are vanishing fast.

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#24
kar522

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;)

Edited by kar522, 31 August 2011 - 07:54 AM.

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#25
carloscai

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Some of these have been discussed...some are new...

10 Retailers Shuttering Stores

Some of these chains are dead, some are dying and some are reinventing themselves to survive -- but their convenient locations near you are vanishing fast.


My goodness, Nana. Some of these names I was so familiar with when I was in college. I must be outdated nowadays!
I will miss you, HarleyD.

#26
kar522

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Here's Why Barnes & Noble Attracts John Malone

Liberty Media, which operates the Starz cable networks and the Home Shopping Network, offers to buy the bookstore chain for $1 billion. It makes sense for Malone. Will it make sense for Barnes & Noble?

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#27
kar522

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Borders Agrees To Sell Itself For $215 Million

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If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

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#28
kar522

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:(


Lacking Bidders, Borders To Liquidate

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Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#29
kar522

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Posted Image
Posted Image
Posted Image

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!

#30
kar522

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Borders Begins Liquidation Sales At All Stores

Where I am is where I need to be...
Just Another Chicago Born & Raised Kook
If you can't be a good example, then you'll just have to be a horrible warning.~Catherine Aird

Not MIA...just trying to figure out Windows 8!




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