Retailers that will go bankrupt in early 2009

[dramamama6685]

Originally Posted by nature's message

Ford may have a lease on life, but the same can't be said for GM.
Macy's seems to be standing on thin ice.
AIG will be nationalized.

LOL.. I work for Macy's and with the restructure(and a layoff of 10%) we are extremely solid.

[chet everett]

Originally Posted by Stac2007

I'm wondering how long Lord and Taylor is going to last.

Any retail store with the inventory costs of upper end clothing needs huge lines of credit. With interest rates low lenders are probably NOT going to turn off that credit unless the stores get ridiculously bad in terms of cash flow.

Seems to me that L&T has a very narrow focus and probably a loyal and well-healed client base, together with a relatively small number of stores I think other department stores / clothing retailers are at much bigger risk...

[Bob from down south]

Originally Posted by dramamama6685

LOL.. I work for Macy's and with the restructure(and a layoff of 10%) we are extremely solid.

That's what Enron management was telling its employees the week before it all caved in.

The Macys here in Colorado Springs is folding its teepee and going away.

[dramamama6685]

Originally Posted by Bob from down south

That's what Enron management was telling its employees the week before it all caved in.

The Macys here in Colorado Springs is folding its teepee and going away.

Each year Macy's closes a certain percentage(not enough coffee yet to remember how much) of it's less profiatble stores and opens new ones in untapped markets. We are already seeing a better upturn in certain areas.

Did Enron's execs offer to take a pay freeze and forgo annual bonuses, too? These weren't the only things adjusted. Our raise % and matching for 401K was dropped in order to remain viable. Just sayin'...