Retail store bankruptcies & closures: Log ‘em here.

Discussion in 'Off Topic [BG]' started by viribus, Oct 5, 2018.

Tags:
  1. viribus

    viribus Gold Supporting Member

    Jan 1, 2011
    Pacific Northwest
    I never actually learned to play very well
    So many businesses being hit hard by the shift to online buying. Some local, some national.

    Yes, even mattress stores. Why would you go through the crazy ritual of going a retail mattress store to try and pick out a mattress from 50 different options and deal with an obnoxious sales person, when you can do a few clicks and get a good mattress delivered to your door for a lower price.

    Mattress Firm files for bankruptcy - CNN

    New York (CNN Business) — Online reviews have replaced going to a store to lie down on a mattress. That's why Mattress Firm, America's largest bed store, has filed for bankruptcy.

    The chain said it plans to remain in business, but it filed for Chapter 11 bankruptcy protection to get out of about 700 unfavorable leases. Mattress Firm said it will quickly close 200 underperforming stores and make decisions about whether to close or maintain the other 500 locations in the coming weeks. There are more than 3,300 Mattress Firm stores in the United States.

    Mattress Firm plans to exit bankruptcy in about two months. It hopes that the liquidity gained from the bankruptcy allows it to expand into more favorable markets and even open some new stores in existing markets.

    ==========

    Noted today, local small business storefront specializing in eco-friendly consumer products is closing their retail store. They’ll be online-only going forward.
     
  2. Michedelic

    Michedelic MId-Century Modern

    Here’s some ironic creepiness: the little pop-up ad at the bottom of your post(at least for me)was for “Zenhaven”, an online mattress company. Then it changed to “Purple” sheets online company.
     
  3. MJ5150

    MJ5150 Moderator Staff Member

    Apr 12, 2001
    Olympia, WA
    I used to work for a company that geocoded retail locations around the world. One of the most popular products we sold was a geocoded list of future store closings. It got to a point there for a while where we updated that report twice a week, and it used to be monthly.

    -Mike
     
  4. viribus

    viribus Gold Supporting Member

    Jan 1, 2011
    Pacific Northwest
    I never actually learned to play very well
    Just off the top of my head, recent closures here include Toys R Us, Sears, Staples, and Office Depot.

    The two main indoor malls here used to have strict standards for retail tenants: nice signage, consistent hours, etc. Now they’ll take anybody and you can make your own sign. Like “A-1 Eyebrow Threading” in a prime location opposite Kohl’s.
     
    Last edited: Oct 6, 2018
  5. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Retail is certainly going through a revolution. But Best Buy is undergoing a resurgence.
     
  6. friskinator

    friskinator Supporting Member

    Apr 5, 2007
    Georgia
    I've noticed this too. The last time I went into the mall in the town where I grew up, a lot of the stores were like that. How long can a mall last like that before they go under completely?
     
    Bob Lee (QSC) likes this.
  7. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Some malls are adapting - doctors' offices, etc.
     
  8. charlie monroe

    charlie monroe Gold Supporting Member

    Feb 14, 2011
    Buffalo, NY
    There is a mall near me that is being turned into a retirement/assisted living community.

    I think this is a fabulous use for the structure and real estate.

    Now they don’t need to load up the bus to go mall walking. :D
     
    The Owl, sneha1965, Bozendoka and 4 others like this.
  9. pcake

    pcake Supporting Member

    Sep 20, 2011
    Los Angeleez
    it's easy to blame online buying for the demise of brick and mortar stores, but i don't think it's always the case.

    i rarely get the kind of customer service from the in-person shopping experience that i get from amazon or a lot of other online stores. when there's something wrong with a purchase a friendly amazon rep is there to help, and that help takes place very quickly. when i have had problems with items at sears, for example, including my fridge, i get the runaround or things move glacially slowly. in the case of my fridge, they never fixed it after 14 visits over 15 months. their policies were sneaky, and it's not just sears.

    or how about pushy sales people in stores who try hard to upsell you? i don't mind a guitar center rep asking briefly if you want pro coverage, but lots of stores with their own warranties or stuff that might go with your camera require their sales reps to practically force you to get add ons. since i don't buy add ons just because a rep or cashier tells me to, all they do is convince me not to go back to their stores. foolish businesses want to try and get a few more bucks from customers who are already buying, not thinking about how they hurt their own reputations by annoying people.

    all my life, reps lied or made stuff up about products, either because they didn't have the facts or the only thing they cared about was to make more sales. mattresses, cars, dishwashers, guitars - you name it. shopping online means that less savvy consumers don't have to take their word for it - the specs are right there on the product page. the hollywood carvin store had a sales guy whose name i won't mention. he did whatever he could to make a sales or make a sale larger - act like a buddy, over-promise what a P.A. or speaker could do or misrepresent in anyway that would get a customer to get out their credit cards. he wasn't there for that long, and within a month after he left, almost everything he sold was returned.

    a lot of mom and pop stores have shorter hours that don't really fit into our lifestyle at all. i get that they have to have lives, but we wake up at around noon on weekends, and monday through friday my husband is beat and traffic is insane after he gets home from work, so store hours that end at 6 on weekendays and 1 or 2 on weekends isn't going to see our faces.

    i was very sad when toys r us went under, but the two closest to my place were dirty, with worn floors, broken shelving, lots of non-toy items like you'd find at the 99 cent store, which were mostly in the front of the store to make everything seem cheap and non-toy focused. they kept stuff they couldn't sell on the shelves for years, and some of them were things anyone but toys r us buyers could have guessed no one was going to buy. and they often didn't have the latest toys, the ones kids were asking their parents for. these stores reeked of poverty and disappointment, and they didn't make you want to buy there unless you had to go through action figures or hotwheels looking for a particular item. and they rarely had those as the employees held the desirable figures/cars for friends or to sell on ebay.

    well, enough of my rant, but honestly instead of deciding they can't complete with online shopping and either giving up or pressuring their customers for more money, some stores could make the shopping and customer service parts of their business better and play off the convenience of walking out of the store with an item rather than having to wait for it to be delivered after buying online. "Buy it today, bring it home TODAY!"
     
  10. Copperhead

    Copperhead Still creakin' around. Supporting Member

    Jul 29, 2018
    Tennessee
    This is all true. I don't like to broad brush as a rule, but I wouldn't give 2 cents for most of the sales people I have met over a lifetime. I truly believe most of these folks have no marketable skills other than being good at doing whatever it takes just to push a product and they prey on the ignorant and people who don't know how to say no, of which I am neither.

    Most times I am better informed about the product I am buying than the sales troll.

    I can sit at home, order most anything I want and have it delivered to my door in two days without the time and hassle of all of what you described.

    There are a few local stores I deal with in connection with my trade who are top notch, like you once expected.
    I wouldn't give a dime for most of the big retailers, who are the worst offenders IMHO.
     
  11. ptg

    ptg

    Mar 16, 2008
    My wife and I could never buy a mattress without first laying on it. I could never figure out how one could buy it online. I guess you can return it but what a hassle!

    Also, Mattress Firm overextended themselves. They made poor business decisions such as buying out Sleepys.

    But yes, sadly, brick and mortar (especially family owned stores) are going extinct.

    BTW, don't think that it's only face to face that salespeople can be pushy or deceiving. I've bought plenty of items online that were not as described or were of poor quality.
     
    GregC likes this.
  12. dwm74

    dwm74

    Nov 8, 2009
    Phoenix, AZ
    It's sad when you think of American institutions such as Sears and Kmart, et al, closing their doors for the most part. I'm in my mid-50s, so growing up it was those two along with JC Penneys and Montgomery Ward, both of whom also are no longer around.

    Heck, I think the first English words I learned as a tyke were "Attention, Kmart Shoppers!" :D
     
  13. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Color me cynical, but I think Mattress Firm knows exactly what they are doing. They have so many stores because they bought out their competitors. Now they get Chapter 11 to erase debts.
     
    two fingers, GregC and Fretless1! like this.
  14. ptg

    ptg

    Mar 16, 2008
    Hmmm...Never considered it could be by design. But wouldn't going Chapter 11 ruin their credit status?
     
  15. MonetBass

    MonetBass ♪ Just listen ♫ Supporting Member

    Sep 15, 2006
    Tulsa
    The biggest & most popular mall here is going strong. In fact, Bath & Body Works just expanded. But I have a feeling that Sears & J C Penney aren't going to be there much longer. Macy's and Dillard's seem to be doing alright, though.
     
  16. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    I'm sure there are issues, but corporate chapter 11 is to allow companies to restructure and come out continuing in business. Seemed to work for:

    Chicago Cubs, Chrysler, Delta, GM, Marvel Studios, among others.

    Now, you aren't supposed to plan your business to use this - but who knows? It just seems suspicious. They knew their dealings would leave them with too many stores - we've all heard the jokes about blocks with multiple stores there (they re-branded all the stores they bought out).
     
  17. Roland GR 88

    Roland GR 88 Commercial User

    Sep 16, 2013
    Ontario Canada
    Retail store manager
    Well, that brush stroke was broad enough I'd say.......
    Sales staff are just trying to make a living. Usually a low paying living these days and as such, turnover is high, experience is minimal and yes, often the customer will know more than the salesperson.
    To each their own but I can always hunt out the person that will know what I'm asking about or simply take directions to where I need to be and make my own decisions.
    I believe there's an quantifiable value in a personal relationship with a business and always prefer to keep my $$$ as local as possible. Heck, I plan on selling my house some day to retire and a raft of empty shops on Main St. isn't going to help.
     
    ptg likes this.
  18. Dr. Cheese

    Dr. Cheese Gold Supporting Member

    Mar 3, 2004
    Metro St. Louis
    I am getting to old to laugh at that joke!:smug:
     
  19. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    If you don't think that on line and telephone "customer service" aren't there to try to push a sale on you just as much as in-store associates, you need to speak with some phone customer service reps over a beer or coffee. Call with an issue with your $50 printer - what is going to be their first suggestion? Try replacing that $65 ink cartridge. Then run off about 10 pages of printer diagnostics (full color), which uses up more ink.
     
    ptg and Roland GR 88 like this.
  20. Copperhead

    Copperhead Still creakin' around. Supporting Member

    Jul 29, 2018
    Tennessee
    Roland I basically have no issue with most of what you said. I realize most people are just trying to make a living and the people hardest hit by the changes in economy are those with no marketable skills. Maybe I should have separated that by saying it is a relatively minor annoyance.

    When that crosses the line into trying any shady tactic trying to make a sale, that's what I have an issue with. That's when making a living becomes predatory, and no excuse for that. There are plenty of people in my business who do that too, and I get weary of trying to live down the crappy reputation they create while there are those who want to deliver quality for a fair price.
     
    Roland GR 88 likes this.