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CHRIS CASCIANO

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Articles Posted: 0  Links Seeded: 450
Member Since: 11/2005  Last Seen: 2/04/2012

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Liquidation nation

Seeded on Fri Jan 23, 2009 12:35 PM EST
Read ArticleArticle Source: financialpost.com
business, retail, bankruptcy, layoffs, circuit-city, liquidation, chapter-11, sharper-image, linens-n-things
Seeded by Chris Casciano
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Earlier this month, Circuit City, the 567-store electronics retailing giant that filed for bankruptcy protection in November, announced it was going to liquidate. It's closing all its stores and laying off its 34,000 workers.

Circuit City's suicide is part of an alarming trend in the retail industry. It used to be that companies came out of bankruptcy relatively easily. Chapter 11 was like rehab: a safe place, insulated from the harsh realities of the outside world-like the need to keep current on bills-that gave companies a chance to regroup and relaunch. But these days, companies are simply deciding to end it all.

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River-239955

I suppose the poverty of the world is trickling up the ladder.  The balance between retailer-consumer seems so shaky right now, I imagine that there will be many more to just 'quit'.

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Reply#1 - Fri Jan 23, 2009 12:53 PM EST
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