Have you notice alot of Business Are Now Going Out of Business? (Charlotte: buying, closing)

[CarolinaCowboy]

The OP does not include the hundreds of thousands of Mom and pop shops being boarded up. And we have only just began! But hey, Obama is going to swoop in and tax them all to death and save the day for us all.

[BrianH1970]

Originally Posted by BlueLily7

What, the whole chain?? Noooooooooooooo!

I found out a couple of days ago that probably the best chain music store I've ever seen, Virgin Megastore in Times Square, was closing up shop the first quarter of next year. I don't think that's due to any economic downturn. Granted, they were purchased for the sole purpose of closing down the business and nailing more money on the rent (Virgin pays $54 per square foot when the average in the area is about $700). But man that broke my heart.

[Simpson12]

Originally Posted by CarolinaCowboy

The OP does not include the hundreds of thousands of Mom and pop shops being boarded up. And we have only just began! But hey, Obama is going to swoop in and tax them all to death and save the day for us all.

The guy hasn't even been elected yet and you are already blasting him. How about this for an idea: give him a chance. Nah, you probably want him to fail don't you? VERY patriotic.

[Doorway]

Originally Posted by Simpson12

The guy hasn't even been elected yet and you are already blasting him. How about this for an idea: give him a chance. Nah, you probably want him to fail don't you? VERY patriotic.

Uh....the election is next week???

[mullman]

Originally Posted by CarolinaCowboy

The OP does not include the hundreds of thousands of Mom and pop shops being boarded up. And we have only just began! But hey, Obama is going to swoop in and tax them all to death and save the day for us all.

I know several long-term (10+ yrs) retail mom and pops in town.
Times and tough and retail requires a constant stream of sales.
Between the downturn and a possible Obama ruler, they are all pondering closing up shop and 'retiring'.
At a certain point, work loses its worth.

[BRKLYN2CLT]

Originally Posted by BrianH1970

I found out a couple of days ago that probably the best chain music store I've ever seen, Virgin Megastore in Times Square, was closing up shop the first quarter of next year. I don't think that's due to any economic downturn. Granted, they were purchased for the sole purpose of closing down the business and nailing more money on the rent (Virgin pays $54 per square foot when the average in the area is about $700). But man that broke my heart.

I think it has even more to do with the fact that NOBODY buys CD's anymore. Digital music has taken over and CD and DVD sales are tanking.

[Barkingowl]

Douglas Furs almost went under this year. The former owner retired & a white night rescued the store. They've given it a makeover & have some nice new coats in stock.

[BrianH1970]

Originally Posted by BRKLYN2CLT

I think it has even more to do with the fact that NOBODY buys CD's anymore. Digital music has taken over and CD and DVD sales are tanking.

Normally I'd go with that one but they were up more than 10% and doing well just before Vornado bought the property. They're paying 54 dollars per square foot in rent. The average in that area is 700 per square foot. Vornado Realty had said that they're winding down the business for the sole purpose of the real estate. This close up isn't Virgin's call. I can't wait to find out who's going to be willing to pay the 700 per square foot now.

[bs13690]

Originally Posted by BRKLYN2CLT

I think it has even more to do with the fact that NOBODY buys CD's anymore. Digital music has taken over and CD and DVD sales are tanking.

I wouldn't say NOBODY buys CDs any more. AC/DC managed to sell 780,000 of them just through Wal-Mart & Sam's Club.

I think the problem with a lot of businesses that close is that they don't change their business model over time. For example, if you are running a Mom & Pop hardware store you are not going to compete with the prices at Lowes. So you'd better offer some kind of unique service or something different so people will continue to come in.

[southbnd]

Originally Posted by Barkingowl

Douglas Furs almost went under this year. The former owner retired & a white night rescued the store. They've given it a makeover & have some nice new coats in stock.

People wear furs here? Seriously?!