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

[SunnyKayak]

I am noticing alot of Business in the area are going out of business within the last two weeks at least in the Huntersville area. Is a true sign our economy of the Charlotte region is starting to suffer?
Is it a sign that they are unable to get business loans?
What do you think is going on?

In Huntersville I have notice
Sunny's Restaurant. I dont understand this one except maybe the owner's bills and payroll was probably higher than what he was bringing in.
The prices was too low IMO for Huntersville where everyone seems to over charge.

Sekisui Restaurant I cant remember what it was like since I last ate there in 2002 but I am assuming I was not impress. There is competition down a block.

Partyland. I can see a market for it but maybe not many people create theme birthday parties to meet sales needs. I did think prices where a little high for the cheapnest in quality of the products.

Love to hear if you have notice a rash of business closings and the reason you think it is. Try to avoid consumer complaints that isnt what this forum is for.

[kc2sweet4ne1]

Didn't you just complain about a couple businesses?

[anifani821]

Originally Posted by kc2sweet4ne1

Didn't you just complain about a couple businesses?

Sunny is trying to figure out if businesses have failed due to poor quality, lack of customer service, not enuff profit or problems w/ meeting payroll due to lack of credit lines being open (b/c of national credit crunch).

Yes, I personally know of one business closing their doors (and another one that is in trouble) b/c of lack of customer business. Both service basically new homes and high income customers. People are cutting back, it appears.

As to credit lines . . . not sure. Have heard this is really affecting car dealerships and businesses that have to do w/ home industry sales - such as furniture and home accessory retailers - as their business really does depend on lines of credit.

[Brooklyn_QueenBee]

My friend in the furniture business at VCF, told me that people are not coming into the stores to purchase furniture. One of the flagstore was closed due to poor sales. Her store has reduced all employees hours by one day. She said if it keeps up, most likely they will have to layoff sale persons--next store will close. This is a huge company with over 100 stores. Businesses' are feeling the crunch and would continue to suffer, especially ones who depend on credit line.

[QC Misfit]

Sunny,

The business you mentioned I think is just in a bad location. Other than Cici's and Friendlies I personally never think about going there to eat. I think of it as groceries and gas and Blockbuster's.

[NCgirl]

Pressini in Ayrsley recently closed. I always wondered how they stayed open. The food wasn't bad but they must have spent a fortune on the interior of the restaurant. It was never busy when I went. I wondered if they were making their money back. It was beautifully decorated and each booth had a small tv mounted on the wall. Each tv had cable so you could watch your favorite channel while you ate.

[southbound_295]

Sunny, in South Jersey & Northern Delaware, I'm seeing 24 hour supermarkets reducing hours & shutting at 1 am. Is that happening in the Charlotte area as well?

[TheEmissary]

Originally Posted by southbound_295

Sunny, in South Jersey & Northern Delaware, I'm seeing 24 hour supermarkets reducing hours & shutting at 1 am. Is that happening in the Charlotte area as well?

sb -There is not much in the way of 24-hour major supermarkets here. Most of the big chains close by 11:00 PM or 12:00 AM. I believe some Walmart stores are open 24 hours, but I haven't seen any by me open 24/7. A lot of the gas stations have those little stores associated with them that are 24 hour operations. I miss my old Pathmark with its 24 hour service!

[NCgirl]

^ I guess it depends on where you live but there are several 24 hour grocery stores in Charlotte. I haven't noticed the ones near me (Bi-lo, Harris Teeter) cutting hours. The Walmart is open 24/7 as well.

[southbound_295]

Originally Posted by TheEmissary

sb -There is not much in the way of 24-hour major supermarkets here. Most of the big chains close by 11:00 PM or 12:00 AM. I believe some Walmart stores are open 24 hours, but I haven't seen any by me open 24/7. A lot of the gas stations have those little stores associated with them that are 24 hour operations. I miss my old Pathmark with its 24 hour service!

Emissary, it's Pathmark & Acme Markets who are cutting hours. I never go to ShopRite so don't know about them or the others. Conversely, my Aldi tripled their staff (at least tripled). & they just opened a big new store in an upscale area.

You know it's bad when the supermarkets cut hours. I can't get out soon enough.

It's easy enough for businesses operating marginally to fold in a bad economy, but supermarkets really tell the tale.