Category Archives: Business/Economics

Business/Economics

“We just didn’t want to do it anymore.”: U.S. Retail/Banking/Service Sector collapse, March 2017

Incomplete list of U.S. retail/banking/service sector job loss announcements and shutdowns made or announced in March 2017:

Here’s more proof the internet excuse is bullshit: Bermuda based Signet Jewelers announced it will shutdown 170 stores across North America blaming a sales shift to the “digital ecosystem”!  But wait, if that’s so why did the jewelry retailer also announce that it plans to open as many as 115 new brick-n-mortar stores? In a round-a-bout way administrators admitted that it wasn’t the internet that was killing brick-n-mortar sales but the classic real estate mantra ‘location, location, location’.

International law firm Denton’s suddenly laid off 60 people in the United States.

Sears-Kmart Death Spiral, March 2017: “substantial doubt”

Alabama: In Selma, after 57 years Gray’s Furniture shutting down so the owner can take care of her parents and have more time with her grandchildren.  After nine years Renaissance Consignment and Marketplace shutting down by the end of April so the owner can focus on her other business.

Arkansas:  Abilities Unlimited shutting down three thrift store locations due to “low customer count and declining sales” over the past five years.

 California: Banc of California issued layoff WARNs, 139 jobs gone by May! City National Bank revealed it shutdown a San Diego office last month.  Gateway One Lending issued layoff WARNs, 58 jobs lost in May. Internet based clothier Byer California issued a layoff WARN, at least 99 jobs lost by May!  Clothing company BCBG Max Azria Group issued a mass layoff WARN for its Vernon HQ, 116 jobs lost in May!   Clothier bebe issued mass shutdown WARNs for 36 California locations, hundreds of jobs lost in May! T&B Sports shutting down its Santa Rosa store due to crashing sales since Autumn 2016.  In Manteca, after 34 years Tammy’s Baby Shoppe shutting down in April, the owners telling local news media they need a “vacation”.   Iconic 66 years old piece of commercial architectural art Brunswick Zone Covina Bowl shutdown, the property is being sold: “Covina Bowl has been in decline for years. They haven’t been making any money. The banquet rooms were shut down last summer.”– Frank Barraco Junior

Colorado: Niwot based shoe seller Crocs (yes, they sell on the internet) says sales are so bad they will shutdown 160 stores by the end of 2018.  Despite having a website Crocs lost $31.7-million USD in 2016!  In Longmont, after 45 years Bike-N-Hike shutdown, the owners saying “We just didn’t want to do it anymore.”  The owners tried to sell the popular bike shop but there were no takers. Washington based thrift store Savers suddenly shutdown its remaining three locations in The Centennial State saying operating costs are going up: “We are not immune to rising labor costs and other trends pressuring the retail industry….. As a thrift retailer, securing quality products at a manageable cost is critical to our success.”

Connecticut:  Too Big to Jail British empire based RBS continues eliminating jobs in Stamford.      Dollar Express issued shutdown WARNs for six locations, shutting down by the end of June due to the sudden takeover by Dollar General.  What construction industry recovery? In Danbury, after 29 years Deep’s Hardware shutdown after three failed attempts to sell it.  In Bloomfield, after 80 years Riley Lumber shutdown, the owner said “….it’s just been harder and harder each year to remain profitable being a small type of operation compared to the box stores.”

Florida:  Boca Raton based office supplier Office Depot (which has a website) said sales are expected to continue crashing so they will shutdown at least 75 more stores.  Iconic 50+ years old surf shop Juno Beach up for sale so the owner can retire.  Source One Direct shutting down its Jacksonville credit/debit card ops, 170 jobs lost by the end of the year!  Administrators said competition is getting so tough they have to consolidate their services.  Michigan based direct mail seller Valassis shutting down its Orlando ops, 71 jobs lost between May and June.  Too Big to Jail British empire based HSBC issued a mass layoff WARN for its Brandon operations, 357 jobs lost in June!  California based clothier bebe issued shutdown WARNs for 13 locations, about 1-hundred jobs lost between now and the end of May!

Georgia: After 68 years Nearly New shutdown.  Local news media said the thrift store was “popular”, but the operators claimed sales crashed due to increased competition with other second hand stores!

Hawaii: Washington based thrift store Savers suddenly shutdown in Kahului.  Administrators said sales had not declined but that operating costs are going up: “We are not immune to rising labor costs and other trends pressuring the retail industry….. As a thrift retailer, securing quality products at a manageable cost is critical to our success.”

Idaho: Burley based King’s Variety shutdown its 14 years old, and recently remodeled, store in Orofino. Last month King’s announced the shutdown of 19 stores, but local news media now say all remaining 21 stores will shutdown.   Dollar Express issued a shutdown WARN for its Emmett store, due to the sudden takeover by Dollar General.  In Pocatello, after six years Element Outfitters shutting down soon, the owners are focusing on their other retail operations saying “We’re just consolidating and becoming a lot more efficient”.  They told local news media that while their brick-n-mortar-store sales have flat-lined their internet sales are “growing strongly.”    In Idaho Falls, after 20 years Park Avenue Antique Mall shutdown, the owners were forced to retire after an ice-jam caused water damage to the building, and they don’t have enough money to fix it and maintain their retail business.   However, since they own the building they hope to find a sucker, I mean people who’ll want to rent it.  In the same area, The Collective Cache shutdown, the building is being renovated for a retail business that’s moving from The Grand Teton Mall to the former Collective Cache location.  U.S. Senators Jim Risch and Mike Crapo, of Idaho, (along with David Perdue of Georgia) reintroduced a bill that would make labor strikes at U.S. ports illegal, for the benefit of foreign companies: “By qualifying the ‘slowdown’ tactic as an unfair labor practice, this bill will ensure businesses can continue to import and export their goods…..:”

Illinois: Clothier Children’s Place shutting down its Hickory Point Mall store in April.  After ten seasons Tympanic Theater shutting down.  Bath & Body Works shutdown its Sandburg Mall store. Local news media also revealed that since January retailers Holmes Shoes, Universal Sporting Goods, clothier Christopher and Banks and jeweler Zales also shutdown their Sandburg Mall locations!  Thrift store operator Savers issued shutdown WARNs for five locations, about 260 jobs lost by May!  Too Big to Jail British empire based HSBC issued a mass layoff WARN for its Elmherst operations, 150 jobs lost in June!  After 25 years, flower seller Olivia’s Garden shutdown.

Indiana:  Indianapolis based and bankrupt electronics retailer hhgregg says sales are so bad they must shutdown at least 88 stores. Indianapolis based athletic shoe retailer Finish Line conducting a second round of store shutdowns in the past two years, this time 20 stores going down because “The fourth quarter was more challenging than we expected…”  In Evansville, after 44 years Harp’s pet store shutdown, the owners realized they can make more money renting out the property. Fort Wayne based maker of women’s clothing accessories Vera Bradley is shutting down 15 of its retail stores due to crashing sales. Administrators said the Obama declared recovery “…is taking longer than we had originally planned, and the overall retail environment and accessories space are significantly more challenging than anticipated.”

Iowa: After more than 80 years Frederick Furniture shutting down when the inventory is gone.

Kentucky: In Lexington, after 58 years Eastland Lanes Bowling Alley shutting down by June due to years of losses.

Louisiana: West Baton Rouge Credit now chapter 11 bankrupt busted saying it owes $6-million USD to other creditors.

Maryland: In Elkton, after more than 70 years Colonial Jewelers shutting down by Summer.

Massachusetts:  More proof of age discrimination as Boston based Fidelity Investments attempts to bribe 3-thousand employees, aged 55 or older, to voluntarily quit!  Mormon Mitt Romney co-founded Framingham based Staples shutting down at least 70 more stores and selling off its European operations, due to poor sales.

Minnesota: Dying Radio Shack shutting down a 45 years old store in Ann Arbor.  In Saint Paul, after 50 years John’s Antiques and Anderson’s Lamps shutting down by May.

Mississippi: In Gulfport, Pinkston Music shutdown, the owner saying “27 years opening to close, six days a week, I’m done!”

Missouri: North of Springfield, Carpet Barn shutting down its 44 years old location in May.

Nebraska: Omaha based apparel and home décor chain store Gordmans now bankrupt busted.  A Texas based company (Stage Stores) took over and will shutdown at least 48 Gordmans stores across the U.S.  Fast Cash shutting down its 20 years old Beatrice location, the owner blamed government saying “Currently, they have on paper 3-hundred pages of new regulations to be imposed in the near future and 90 percent of them would just wipe out the mom and pop shops……it just economically didn’t make sense for my family to stay invested in it.”

New York: In Brooklyn-NYC, “popular” thrift store Housing Works shutting down its Montague Street location due to the greedy landlord.  Hotel service company The Dumont NYC shutting down, 79 jobs lost by mid-June.  In NYC, A.I. Friedman shutdown its 80 years old art supply store.  Local news media report its the fourth independent art supply store in NYC to shutdown in the past two years.  Local news media doesn’t blame the internet, it blames competition from Illinois based chain-store operator called Blick Art Materials.  Record Theater shutting down its University Heights location, leaving only one location left.  Administrators told local news media that at one time there were 25 Record Theater locations.  Shoe seller Reebok shutting down its Queensbury Outlet store by the end of April.  Local news media pointed out that Reebok jacked-up the prices right before the going-out-of-business sale!    Exclusive Group Travel issued a shutdown WARN for its Bethpage ops, 116 jobs lost by July! In NYC, Eton Park Capital Management shutting down, 53 jobs gone by July.  CLSA Americas revealed it shutdown its NYC office, at least 67 jobs lost at the end of February.  Savers shutting down its thrift store in Henrietta, 58 jobs gone by June. Texas based JCPenney issued shutdown WARNs for locations in Massapequa and West Nyack, 183 jobs lost in June!  What housing market recovery?  PHH Mortgage issued a shutdown WARN for its Williamsville ops, at least 69 jobs lost at the end of June in what is most likely a first round of layoffs.

North Carolina: In Chapel Hill, after 40 years ‘educational’ toy seller Children’s Store shutdown, the owner saying “a lot of changes would’ve needed to happen” in order for her to keep it open.  In Greensboro, after 44 years Mary’s Antiques shutting down in May.  After 20 years Main Oak Emporium now up for sale: “Somebody else can have this fun…..” “Main Oak Emporium has been downtown Mount Airy’s leading retail store for almost 20 years. However, all good things must come to an end.”-Burke Robertson, ownwer

North Dakota:  Fargo based clothing retailer Vanity is now bankrupt and dead, all 137 stores across 27 states shutting down between the end of March and May!

Ohio: After 93 years B&B Appliance shutdown both locations saying “The bottom line is that we are no longer profitable.”   New Albany based Abercrombie & Fitch continues its slow burn death spiral, this time announcing the shutdown of an additional 60 stores. Administrators say they will follow the example of Sears/Kmart and allow leases to expire.  In Hillard, Movie Tavern shutting down by April.

Pennsylvania: Internet based clothing and electronics retailer Haband issued a layoff WARN, 59 jobs lost in May.   York based retailer The Bon Ton shutting down an additional six stores.  American Signature Furniture shutdown its Whitehall location because the property owner ended the lease early.

South Carolina:  In Charleston, Dixie Furniture shutdown its 71 years old original location on King Street saying “The business climate changed…” Baby Furniture Plus Kids shutdown its Greenville location.

Tennessee: Law firm T. Robert Hill bankrupt busted and its offices for sale.  Bed, Bath & Beyond shutdown its store in Antioch. 

Texas: The new owner of Radio Shack, General Wireless, took it bankrupt (again) and will shutdown 552 more stores!  Plano based iconic U.S. retailer JCPenney shutting down 138 stores and eliminating as many as 6-thousand jobs!  ‘Outdoors’ retailer Gander Mountain shutting down three Houston area stores, as part of bankruptcy plans to shutdown 32 locations.  Too Big to Jail Capital One Financial shutting down seven San Antonio area locations by June.  The Dallas-Fort Worth airport Marriott hotel eliminating 240 jobs by June, due to change in management!

Utah: Proficio Bank failed, FDIC turned assets over to Cache Valley Bank.

Virginia: Richmond based international advertising company Martin Agency conducted a second round of layoffs, this time 21 people lost their jobs.  The first round of layoffs were blamed on Walmart, which then forced the company to restructure hence the second round of layoffs.  In Virginia Beach, after 13 years RVA Fine Rugs shutting down brick-n-mortar operations and shifting to internet only,  blaming it on two years of crashing sales and a greedy landlord who put the property up for sale.  In Warrenton, after 30 years British empire themed gift shop Piccadilly Limited shutdown due to the death of the owner.

Washington: In Union Gap, thrift store Value Village shutdown without explanation.  Seattle based retailer Nordstrum suddenly laid off 106 phone and internet based ‘customer care’ employees across the U.S. claiming there “…has been a decrease in the number of customers who reach out to Customer Care…”!   After 26 years the New Phoenix Casino shutdown due to crashing sales and “Our labor pool is diminishing. We have employees leaving us…..”  Local news reports say at one time the casino employed 3-hundred people.

West Virginia:  After more than 1-hundred years fur coat seller House of Luxe shutdown, the current owner is changing careers.

Retail/Banking/Service sector February 2017: “THE ECONOMY WENT INTO THE DUMPSTER”

WARN=Worker Adjustment & Retraining Notification.

I found a 2010 AFL-CIO analysis (titled The Public Availability of WARN Notices: Lack of Accessibility and Disclosure…) which proves what I’ve been suspecting in my search of state WARN notices; most states are not complying with federal WARN regulations and are not publicizing or tracking mass layoffs.

Former employees who receive severance are not counted as unemployed!

Employees of religious non-profits might not qualify for unemployment assistance: “If the non-profit organization is a church, you may or may not be entitled to unemployment. It all depends upon state regulations for church employers. In many cases, churches are allowed to set their own rules regarding unemployment benefits, meaning the church can choose whether to offer benefits to former employees.”

The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all ‘measuring green jobs’ products. This news release is the final publication of monthly mass layoff survey data.”

Business/Economics, Technology

Destroy U.S. Dollar: Japan recognizes Bitcoin as official money! Charities accept it for donations!

20 April 2017 (15:42 UTC-07 Tango 06) 31 Farvardin 1396/23 Rajab 1438/24 Jia Chen 4715

At the beginning of April, Nippon (Japan) legalized the use of Bitcoin, and other cryptocurrencies, and immediately two major retailers announced they would accept customer’s Bitcoins.  Now the city of Hirosaki announced it would accept Bitcoins for their Save the Cherry Blossoms charity.

The value of Bitcoins has skyrocketed since Nippon legalized its use.  Nippon is the first country to legally, officially, recognize cryptocurrencies as money.

The next big move to watch in the cyrptocurrency revolution is Россия (Rossiya aka Russia).  In 2014 Rossiya banned the use of such money, but towards the end of last year the Федеральная налоговая служба, ФНС России (Rossiya Federal Tax Service) reversed the ban, saying bitcoins are not illegal.  Rossiya  Deputy Finance Minister Alexey Moiseev even said cryptocurrencies could become legally (officially) recognized by 2018.

What is money? Money is not a real tangible thing, it’s whatever a government accepts as money based on a value system.  In ancient times the first money systems used shells then grain crops and even salt as ‘money’.  Then came coins minted by the first empires, and thousands of years later paper money and something called credit. For a long time governments (which includes religions) tied the value of their money to the value of a precious metal like gold, but between 1971-73 U.S. President Richard Nixon changed that.  Nixon and his cohorts United Kingdom (British empire) and Kingdom of Saudi Arabia (also connected to the British empire) conspired to create a new money system tied to petroleum oil called the PetroDollar system. 

Destroy U.S. Dollar: China, India, Japan switch to Bitcoins

Destroy U.S. Dollar: IRAN REFUSES U.S. DOLLAR FOR OIL PAYMENTS!

Business/Economics

“the economy went into the dumpster” “Technology has taken over”: U.S. Retail/Banking/Service sector collapse, February 2017

Incomplete list of U.S. retail/banking/service sector job loss announcements and shutdowns made or announced in February 2017:

Alabama: Birmingham based Regions Bank shutting down 27 offices across the U.S. “based on traffic, volume, proximity of other branches, profitability, and other factors.”  After 40 years Jewels by Rose shutdown, the retiring owner revealed how her mother, the founder of the store, learned about jewelry: “She started learning about jewelry from her World Book Encyclopedia at home.”-Donna Jowers, current owner

Arkansas:  After 25 years Cheap Thrills thrift store shutdown with no explanation.

 California: Vernon based clothing retailer BCBG Max Azria Group finally revealed it must shutdown 120 brick-n-mortar stores across the United States. Having a website can’t stop clothier Nasty Gal from suddenly shutting down brick-n-mortar stores in Los Angeles and Santa Monica, 98 people laid off without warning.  Brisbane based bebe (aka Bebe Stores) shutting down 25 stores due to a sudden and unexpected crash in clothing sales (yes, they have a website).  Hat seller Valley CAPS shutting down its Stockton location, 34 jobs gone by mid-April. Clothier VF Outdoor shutting down its ops in Alameda, 52 jobs lost by mid-April. Parking lot and transportation service company SP Plus suddenly shutdown their Glendale operations, 84 jobs lost. LPL Financial issued a layoff WARN for its San Diego location, 133 jobs lost by mid-April!  In Pomona, after 83 years Coates Cyclery shutdown, the owner blamed his own suppliers for competing with him on the internet, and said bicycle service work doesn’t pay enough to keep them in business!

Connecticut: In Stamford, British empire based Royal Bank of Scotland (RBS) issued yet another layoff WARN, ten jobs lost in April.  Retailer Benny’s suddenly shutdown one of its five locations in the state, local news media say the local retailer has been in business since 1924.  Consignment store Cedar Chest shutting down its Branford location in March, due to not being able to renew the lease.

Florida:   In Tampa, Powerhouse Gym shutdown its Channelside location, blaming rent increase and lawsuits. Law firm Binder&Binder shutdown its Tampa office, 75 jobs lost.  In Bradenton, after 67 years Pierro’s Jewelers shutting down as soon as the inventory is gone.

Georgia: Cartersville Jewelry Exchange shutdown three locations.  The owner is going back to running just one store saying “There’s more to life than money…”   In Columbus, after 74 years iconic five stories tall Raymond Rowe Furniture shutting down as soon as the inventory is gone.  Video Warehouse shutdown its Valdosta store.

Idaho: Burley based King’s Variety continues its slow death spiral, announcing it will continue shutting down stores.  King’s is down to just 19 stores across six states: “The retail climate has radically changed in the past decade….Brick and mortar stores need feet and faces to survive as we have salaries, rents and other costs to cover. Unfortunately for us that is not the current landscape.”

Illinois:  In Chicago, United Airlines WARNed it will layoff 3-hundred people starting in April, as part of its restructuring plan!  In Chicago, California based clothier GAP shutdown its store on North State Street.  State Farm insurance issued a layoff WARN for Bloomington, 78 jobs gone by the end of April.

Indiana: In Evansville, Combs Landscape and Nursery shutting down so the owner can focus on other projects.  In Indianapolis, after three years VeloWorks Urban Cyclery shutdown.

Kansas: Topeka based shoe seller Payless warned that it is in negotiations with creditors that could result in as many as 1-thousand store shutdowns!

Kentucky: Having a website can’t stop clothier Nasty Gal from shutting down its distribution center in Sheperdsville, 70 jobs lost in April.

Louisiana: After 70 years the Alexandria Golf & Country Club shutdown due to lack of dues paying members.

Maine: Dying Radio Shack shutdown a store in Bucksport.

Maryland: After 62 years La Plata TV & Appliance shutdown.  After 36 years Carpenter’s World of Music shutting down by April: “Ever since the economy went into the dumpster and the competition of the internet, it just hasn’t been fun.”-Ken Carpenter

Michigan: In Kalkaska, after 39 years Cornell’s Crossing Hallmark shutting down by the end of March.  The country’s largest retail christian chain store is now dead.  After 85 years Family Christian Stores shutting down all 240 stores, 3-thousand jobs lost by the end of April! Instead of blaming god, Family Christian Stores admin blamed their fellow christians for crashing sales!  In Kalamazoo, after 45 years Alfred E. Bike shutting down as soon as the inventory is auctioned off.  The auction is being held on the internet.  In Bay City, after 117 years (surviving The Great Depression) Utermalen’s Furniture shutdown, the owners say sales never recovered from the crash of 2008.

Minnesota: 56 years old Saint Paul based ‘outdoors’ store Gander Mountain began shutting down and liquidating stores across the U.S.  Local news media said company administrators are refusing to explain, or say how many stores will shutdown.

Missouri: What automotive industry recovery? In Frederickstown, Barrett Jensen shutdown after 20 years of vehicle sales, the property has been used to sell cars all the way back to The Great Depression. In Kansas City, after 51 years Swirk Jewelry shutdown, the owner lamented “There used to be a lot of family owned stores here. There used to be a drug store, grocery store here. Today there is very little of that still here. A lot of the restaurants are chain stores…..it’s just different.”  Grandview based U.S. Toys shutting down five of its remaining six brick-n-mortar stores in April, to focus on the internet: “Our retail stores have been impacted by the economy, and people shifted to online shopping…..It’s gotten to the point where from a profitability standpoint, it didn’t make sense to keep our [brick-n-mortar] stores anymore.”-Seth Freiden, CEO

Nebraska: In Columbus, J’s Hallmark gift store shutdown for “multiple reasons”.

New Jersey: In Mount Laurel, PHH Mortgage eliminating 33 jobs in March.  Wayne based Toys’R’Us suddenly eliminated 250 corporate jobs, blaming crashing sales!  In Brick, after 27 years Bob’s Video Time shutdown, the owners admitted they should’ve shutdown two years ago.

New York: In Vestal, after 46 seasons ski store Cliff House shutting down when the current ski season ends, the owner wants more time with his ill son.  In Gloversville, True Value Hardware shutting down, local news media says no details were released.  In Elmira, after eight years Hills,Valleys & Streams shutdown “due to lack of slaes” in the past two years.  The owners swore over and over to local news media that sales “were great” until two years ago.   In Potsdam, Misty Hollow arts & crafts shutting down by the end of April: “Times were different 25 years ago. That’s the bottom line.”-Karen G. Sidletsky, owner

North Carolina: Mooresville based home improvement retailer Lowes laid off 430 HQ employees and another 95 corporate ‘support’ employees elsewhere! This is on top of last month’s announced plan to kill 2-thousand 4-hundred full time jobs at stores and distribution centers across the United States!  In Winston-Salem, The Other Half gallery shutting down in March.  The Sanctuary of Davidson artisan gift store shutting down in March, not sure if you can blame the internet because loyal customers were notified by email.

Ohio: Maumee based agribusiness and farm retailer Andersons shutting down all four stores, laying off 920 people by the end of April!  It’s blamed on millions of U.S. dollars in losses over the past eight years.  In Geneva, after ten years pet store The Green Leash shutting down in March.  Your Home by Goldsteins Furniture shutting down a store in Boardman, the building is being sold.  In Madeiro, after ten years La Silhouette Lingerie shutdown.

Oregon: Happy Knits shutdown its brick-n-mortar store in Portland (Happy Knits has a website).  Clothier Lucy Activewear now dead after after being absorbed by troubled competitor The North Face. It’s unknown how many Lucy Activwear stores will be shutdown: “Just in the last eight years, the growth in competition has really been intense from a lot of brands….Our intention is to have them closed by the end of 2017 or very early 2018.”-Dawn Dzedy, Lucy Activewear

Pennsylvania: In Waynesboror, after 39 years Schier’s Furniture liquidating and shutting down, the owner says he can no longer compete.  After 27 years Polo Ralph Lauren shutdown its store in Philadelphia.  In Carlisle, after 43 years Midway Skating Center sold-off and shutting down due to “the high costs associated with maintaining such a large facility and the increasing pressure on young people’s time”.

South Carolina:  In Charleston, after six years upscale women’s clothier Rapport shutdown saying “We don’t have enough business to make it practical to continue to operate.”

Tennessee: In Chattanooga, after more than 25 years River City Bicycles shutdown blaming “the purchasing habits of today’s consumers”.

Texas: Despite a slight uptick in profits at the end of Gregorian year 2016, Plano based U.S. retail icon JCPenney says as many as 140 stores could be shutdown by May, and on top of those employees losing their jobs due to the shutdowns, apparently an additional 6-thousand employees will be offered voluntary buyouts (bribes to quit)!  In Plano, Forex Capital Markets eliminating 56 jobs in April, blaming federal regulators.  In Grapevine, Fidelity Investments laid off 98 people.    Seaway Bank & Trust failed, assets turned over to the State Bank of Texas.  In El Paso, after 13 years bowling alley Fiesta Lanes shutdown due to financial problems.  After years CC’s Discounts shutting down its store in Abilene. You shouldn’t blame the internet because after all they posted the following on social media: “The industry has become a market of great competition and increasing difficulties in meeting my obligations to employees and customers.”

Vermont: Decades old Brownsville General Store suddenly shutdown, a real estate agent revealed that store was out up for sale the month prior.

Virginia: In Blacksburg, after 14 years Mad Dog Boutique shutdown despite pleas from potential customers to stay open, the owner saying she can no longer compete.  God powerless to stop ‘his’  British empire based Salvation Army from shutting down its Waynseboro thrift store, due to lack of sales.  The Bristol Mall GameStop shutdown.  Clothier Misty Mountain Designs also shutdown its Bristol Mall location, the owner blames Sears: “The decision to close the mall location was made when Sears announced they were closing……I contacted management to find out if they had anything coming behind Sears …..it feels as though they’re considering the mall for another type of use.”-Sue Smith

Washington: Too Big to Jail Bank of America shutting down its Bremerton office in November.

Wisconsin: In Madison, after “90 wonderful years” Mallatt’s Pharmacy & Costumes shutdown.  Local news media reported that the pharmacy portion of the store actually ceased ops back in October.  The owner said he’s focusing on his Homecare Pharmacy operations.  In Milwaukee, Zita’s Bridal Salon shutting down by April, after 90 years of being one of the “most exclusive” women’s clothing stores in Wisconsin.  Jeri’s Hallmark in Valley View Mall shutdown.  In Wauwatosa, after almost 80 years The Map Store shutdown: “Technology has taken over……So much of our customers don’t need us anymore, they have a cell phone. Technology is devastating. It was a blessing for creating maps, but not for selling them.”-Jan Swain, owner

Retail/Banking/Service sector January 2017: “I DON’T SLEEP AT NIGHT, IT’S KILLING ME”

SEARS KMART DEATH SPIRAL UPDATE, MARCH 2017

Dumbing Down the U.S., February 2017: OBAMA KILLS 200 COLLEGES!

U.S. Tech communications breakdown, February 2017: “REDUCE STAFF…BY 30%.”

U.S. Mining/Industry/Logistics layoffs, February 2017: “INVOLUNTARY SEPARATION PROGRAM”

OBAMA LEGACY: U.S. APPAREL INDUSTRY DEATH-SPIRAL

OBAMA LEGACY: “…A SEVERE RECESSION…”

OBAMA LEGACY: TRADE DEFICIT AT RECORD LEVEL?

WARN=Worker Adjustment & Retraining Notification.

I found a 2010 AFL-CIO analysis (titled The Public Availability of WARN Notices: Lack of Accessibility and Disclosure…) which proves what I’ve been suspecting in my search of state WARN notices; most states are not complying with federal WARN regulations and are not publicizing or tracking mass layoffs.

Former employees who receive severance are not counted as unemployed!

Employees of religious non-profits might not qualify for unemployment assistance: “If the non-profit organization is a church, you may or may not be entitled to unemployment. It all depends upon state regulations for church employers. In many cases, churches are allowed to set their own rules regarding unemployment benefits, meaning the church can choose whether to offer benefits to former employees.”

The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all ‘measuring green jobs’ products. This news release is the final publication of monthly mass layoff survey data.”

Business/Economics

“involuntary separation program”: U.S. Mining/Industry/Logistics layoffs, February 2017

Incomplete list of U.S. Mining/Industrial/Logistics job loss announcements and shutdowns for February 2017.

The largest towing company in the United States, United Road Towing, is now bankrupt and dead?  The evil Too Big to Jail Wells Fargo is now in charge of selling off company assets to the highest bidders.  The bankruptcy is sudden as news reports said the company claimed it made profits in 2016, however, United Road Towing has actually been operating on debt financing and those debts now far outweigh any ‘profits’.  Ironically (yet normal for bankruptcies involving companies) the bankruptcy allowed yet more debt financing so that employees and suppliers could be paid!  There were reports the company expected to emerge from bankruptcy, yet I also saw reports that said the sale of assets had been approved.

Alabama: Beaulieu America shutting down its cable operations in Bridgeport, 332 jobs gone by the end of March!

Alaska: Taxpayer owned Alaska Railroad Corporation laid off 31 people and eliminated 29 positions, blaming an un-recovered economy for creating a forecasted loss of $4.9-million USD for 2017.

Arkansas: HVAC maker Trane shutting down its Fort Smith factory as part of its consolidation plan, 250 jobs lost over the next few months!

California: Freeport-McMoRan Oil & Gas eliminating jobs in Bakersfield and Los Angeles by the end of March.  Boeing eliminating 1-hundred-plus jobs in El Segundo and Huntington Beach by the end of April.  Upscale sun-glass maker Oakley issued a shutdown WARN for its Ontario operations, 78 jobs gone by the end of July.  The new owner of troubled apparel maker VF Contemporary Brands issued layoff WARNs for its Los Angeles and Vernon ops, 88 jobs gone by April.  Tax sucking maker of parts for inflatable boats, Wing Inflatables, warning that 1-hundred jobs in Arcata could be lost, if they don’t win a multi-million USD tax-sucking contract from the U.S. Navy for Special Warfare Boats!  Material handling specialist Elite Line Services (ELS) shutting down its Los Angeles location, 65 jobs gone by the end of April.  Washington based port operator Puglia Engineering suddenly backed out of its deal to take over a former British empire BAE pier in San Francisco, 184 jobs suddenly gone!  Administrators blame the U.S. tax-sucking British empire’s BAE for selling them a pig-in-a-poke as they discovered $9-million USD in damages to the pier caused by BAE!  Local news media reported that under BAE the pier employed more than 2-hundred people.

Connecticut: In Old Saybrook, Fortune Plastics eliminating 92 jobs by mid-April.

Delaware: What construction industry recovery? window and door maker B.F.Rich shutdown its factory and laid off 130 people!

Florida: In Milton, wholesaler H.T.Hackney eliminating 40 jobs by mid-April.  What construction industry recovery? Door maker Jeld-Wen issued a WARN saying 82 jobs in Kissimmee will go away by the end of March.  Jacksonville based rail transport company CSX announced it will eliminate 1-thousand management level jobs, calling it an “involuntary separation program”!

Illinois: In Chicago, greeting card maker Recycled Paper Greetings issued a shutdown WARN, 64 jobs lost between April and July. In Franklin Park, U.S. Smokeless Tobacco issued a shutdown WARN, 246 jobs lost by May!  Republic of China (Taiwan) based ocean going freight company Yang Ming Marine Transport eliminating 47 jobs in Downers Grove due to consolidation.  Ammo maker Olin laying off 17 people in East Alton as it moves ops to Mississippi.  Local news media reported that in-total more than 180 Olin jobs have left the state since last year!  After 160 years wholesaler distributor Newman & Ullman now dead, local news media were unable to get an official comment from the owner.  The company delivered anything from car parts to restaurant supplies.

Indiana: Texas based steel company CB&I issued a shutdown WARN for its East Chicago coke ops, 149 jobs gone due to loss of contract with Illinois based SunCoke Energy!

Iowa: What automotive industry recovery? Motor-home/RV maker Winnebago Industries suddenly eliminated an undisclosed number of jobs at its factory in Forest City, as well as reduce work hours for remaining employees.  In Cedar Rapids, product developer and promoter Raining Rose laying off 49 people by mid-March.  Americold Logistics issued a shutdown WARN for its Bettendorf location, 43 jobs lost by April.

Michigan: What automotive industry recovery? Penske Vehicle Services issued a layoff WARN, at least 165 people losing their jobs due to losing a contract with General Motors (GM)!  In Flint, American Spiral Weld suddenly furloughed 22 employees due to a sudden crash in sales.

New Jersey:  What construction industry recovery? Crowne Architectural Systems issued a mass layoff WARN for North Bergen, 2-hundred jobs lost by mid-April!  In Mount Laurel, PHH Mortgage eliminating 33 jobs in March.

New York: NRG Energy shutting down power plants across The Empire State, 131 jobs lost between May and June!  Envelope maker Cenveo issued a shutdown WARN for its factory in Orchard Park, 111 jobs lost between March and May!   Mattress maker Ascion issued a shutdown WARN for its factory in Eden, 39 jobs gone by the end of April.  What automotive industry recovery? Penske Vehicle Services eliminating jobs in Bufallo and NYC due to losing a contract with General Motors (GM).

Ohio: Enginetics issued a shutdown WARN for its factory in Eastlake, at least 28 jobs lost by July. Enginetics’ main customer is the tax-sucking U.S. military.  What automotive industry recovery?Penske Vehicle Services issued a WARN for its Lordstown ops due to losing a contract with GM.  Fiat-Chrysler shutting down its Jeep factory in Toledo, 3-thousand-2-hundred jobs lost in April!  Officially the shutdown is due to re-tooling, and production is expected to start back up by the end of the year, however, Toledo Molding & Die says it is forced to shutdown its factory (which supplies the Jeep factory) and layoff 30 people due to Jeep Cherokee production being moved elsewhere!   Another Jeep factory supplier, Piston Automotive,  laying off 52 people for the same reason; Jeep production is leaving Toledo!  DHL Supply Chain, yet another Jeep factory supplier, laying off 277 people!

Pennsylvania: Paper Works eliminating 147 jobs in Philadelphia by mid-April!  CEVA Logistics eliminating 29 jobs in Lewisberry, by April. What construction industry recovery? SBC Building Systems issued a WARN for its Ambridge location, 98 jobs lost by mid-April. In Avonmore, Akers National Roll/ Union Electric Steel eliminating 157 jobs between March and May!  Mesto Minerals eliminating 95 jobs in Washington and Montour counties.  CNX Coal Resources-Consol Energy laid off 2-hundred people due to a state Environmental Hearings Board restriction!

South Carolina:  Tax-sucking maker of fabric armor, DuPont-Kevlar, shutting down its six years old factory in Berkeley due to lack of sales.  Local news reports say DuPont claimed to have invested $500-million USD in the factory, but is now consolidating the work to other factories, resulting in 113 jobs lost in Berkeley County!

Texas: Mining (oil) company Vangard Natural Resources now chapter 11 bankrupt busted. The court approved $50-million debtor-in-possession (DIP) financing through evil Too Big to Jails Citibank, JPMorgan and Wells Fargo Bank.  Oil company Anadarko issued a layoff WARN for its Carrizo Springs ops, 85 jobs lost.  Switzerland based offshore oil company Transocean eliminating 120 Lone Star jobs!  Atwood Oceanics eliminating 86 jobs in Houston.  Storage tank maker PermianLide shutting down its factory in Kilgore, 70 jobs gone by March.  GE (General Electric) eliminating 250 railroad engine jobs in Fort Worth, remaining employees reduced to 32 hours work weeks!   What construction industry recovery? Indiana based mobile home maker Skyline WARNed that if nobody buys their Mansfield factory then all 105 employees will become unemployed by mid-April!  Skyline admin say the Mansfield factory hasn’t made a profit since 2014.

Virginia: Delivery Agent Holdings shutdown its Corzet operations, 134 jobs gone!  However, local news media contacted managers at the Corzet site who said they haven’t been told anything by corporate and the WARN was ‘news to them’, but I did some checking and discovered the shutdown WARN was issued back in December 2016, just shows you how ignorant employees can be (even management)!  In Roanoke, unnamed employees of Illinois based FreightCar America leaked a company memo to local news media revealing that 364 layoffs are in the works for April!  It’s blamed on crashing orders from the rail transportation industry.  Wilson Trucking issued a shutdown WARN for its Fishersville ops, 316 jobs gone by March!

Washington: Crown Resources-Echo Bay Minerals shutting down its operations in Ferry and Okanogan counties, 95 jobs gone by April.

Mining/Industrial/Logistics January 2017:  “INDUSTRY PLUNGED…WE WEREN’T NEEDED ANYMORE”

Business/Economics, Idaho, Technology

Obama Legacy: Death of ‘Outdoors’ stores, and don’t blame the internet!

11 April 2017 (15:54 UTC-07 Tango 06) 22 Farvardin 1396/14 Rajab 1438/15 Jia Chen 4715

Independently owned ‘outdoors’ store Element Outfitters shutting down its 2nd brick-n-mortar store in Pocatello, Idaho.  But don’t blame the internet, they have a website. (elementoutfitters.com)

Element Outfitters, Yellowstone Avenue (aka U.S. highway 91) Pocatello, Idaho

Soon to shutdown Element Outfitters on Yellowstone Avenue (aka U.S. Route 91) Pocatello, Idaho

The original Element Outfitters, towards the south end of town, will continue to operate.  The owners say the economic situation is such that they must consolidate operations to become more efficient.

Interestingly a local news report ignorantly (perhaps lazily) blamed “e-commerce”, failing to mention that most brick-n-mortar stores also have websites that sell merchandise.

Michigan based MC Sports went bankrupt in February of this year, and is shutting down all 66 stores.

Last year the largest ‘outdoors’ chain died.  It was called Sports Authority and it too had a website.  In fact, in its bankruptcy it was revealed that not only did its brick-n-mortar sales crash, but so did its e-commerce sales.  Administrators said there was too much competition for both brick-n-mortar ops and internet ops.  By the end of 2016 Dick’s Sporting Goods took over the remaining Sports Authority operations.

In April 2016, Vestis Retail Group killed off Sports Chalet and then sold off its other outdoors ops Eastern Mountain Sports and Bob’s Stores.  They had websites too.

The owner of now dead California based clothier Wet Seal, Versa Capital Management, took over Bob’s  and Eastern Mountain Sports.  Then suddenly in February of this year (shortly after killing off Wet Seal) Versa began quietly killing off Eastern Mountain Sports and Bob’s Stores.  Versa is bankrupt and some reports say it might be sold-off to British empire based retailer Sports Direct International.

In February of this year, VF Outdoor announced it would shutdown its four years old ‘sustainable’ outdoors and  clothing product HQ in Alameda, California, killing 52 jobs by April.  One of the outdoor clothing brands associated with VF Outdoor is The North Face.  VF Outdoor is a division of North Carolina VF Contemporary Brands, which also announced it would kill off nearly 1-hundred manufacturing jobs in Los Angeles and Vernon, California, by April.

Just like with the U.S. apparel industry blaming too much competition (both on and off the internet) for its demise, so too is the related outdoors retail sector. And just like the apparel industry death spiral, the outdoors industry death spiral began under the watch of Barack Obama. 

OBAMA LEGACY: CHINA KICKS AMERICA’S ASS IN JOBS FOR AFRICA!

Business/Economics, Idaho

Dollar General secretly executes Dollar Express & Family Dollar!?! Another blow to Chubbuck?

09 April 2017 (17:23 UTC-07 Tango 06) 20 Farvardin 1396/12 Rajab 1438/13 Jia Chen 4715

In my routine reading of state WARN (Worker Adjustment & Retraining Notification) listings I discovered massive listing for Dollar Express shutdowns.  I’ve also found local news reports revealing that Family Dollar stores are also being shutdown.  This is connected to the takeover of Family Dollar by Dollar Tree in 2015, and the takeover of Dollar Express by Dollar General just days ago.

Is the Chubbuck, Idaho, Family Dollar about to bite the dust?

On 30 MAR 2017, Dollar Express notified Idaho Department of Commerce that its store in Emmett was shutting down.

In 2014 I wrote how Family Dollar was being sold to a company called Dollar Tree.   I also wrote how New York based Yankee One Dollar went out of business, blaming jacked up employee insurance costs due to ObamaCare. And in 2013 I reported how Idaho based Honk’s $1.00 suddenly died and was shutting down. Initially Boise news media claimed that no Honk’s stores were shutting down, until days after BlindBatNews posted the evidence, then the Boise main-streamers finally reported the shutdowns!

To get the takeover of Family Dollar approved, the federal government required Dollar Tree to sell-off more than 3-hundred stores.  Those stores became known as Dollar Express in 2015 under ownership of a vulture capitalist company called Sycamore Partners. At the end of March of this year Sycamore Partners quietly sold them to competitor Dollar General, who immediately began shutting them down.

Dollar General’s sudden takeover and shutdown of Dollar Express (not to be confused with car rental company Dollar EXPRESS) is interesting because in 2016 Dollar General administrators said they were about to embark on a massive expansion program.  The sudden shutdown of Dollar Express will kill 2-thousand-7-hundred jobs! That’s according to news media in the state of North Carolina, where Dollar Express is headquartered.

But wait, at the same time news reports are popping up around the country revealing that Family Dollar stores are shutting down as well.  A Family Dollar in Saint Louis, Missouri, and one in Saranac Lake, New York, are shutting down by the end of June.  It turns out that many of the Family Dollar stores sold-off in 2015, to create Dollar Express, were allowed to continue operating under the Family Dollar name!

What this looks like to me is a complicated game that the top U.S. ‘dollar’ store operators are playing with federal regulators, in an attempt to create a monopoly.  Many analysts say which Family Dollar stores will shutdown depends on if there is another dollar store nearby.   Keep in mind that dollar stores target poor people, yet because poor people don’t have enough money to support the dollar store industry desperate dollar store owners are trying to create a monopoly, it’s proof we’re in a depression not a recovery. Thousands of dollar store employees have lost their jobs since the U.S. dollar store wars began in 2013 (under the rule of Barack Obama)!

RUE21, HI-TECH RETAIL FAIL! ANOTHER BLOW FOR CHUBBUCK?

‘ZOMBIE’ PAYLESS SHOES SUDDENLY SHUTTERS 400 STORES! ANOTHER BLOW TO THE CITY OF CHUBBUCK?

MORE ECONOMIC DECLINE: VANITY DIES IN IDAHO

Business/Economics

Big Box electronics retailer suddenly dies!

08 April 2017 (15:48 UTC-07 Tango 06) 19 Farvardin 1396/11 Rajab 1438/12 Jia Chen 4715

After 62 years Indianapolis based electronics retailer hhgregg suddenly died, all 220 stores and 14 distribution centers shutting down by the end of next month!

Bankrupt hhgregg had until 07 APR 2017 to find a buyer, but nobody came through: “…we had discussions with more than 50 private equity firms, strategic buyers and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors.”-Bob Riesbeck, CEO

Administrators blame the death of hhgregg on years of crashing electronics sales and a failed attempt shift to other types of home appliances.

Hhgregg will add thousands more unemployed retail workers to the tens of thousands who will be unemployed by Summer:  RUE21, HI-TECH RETAIL FAIL!

‘ZOMBIE’ PAYLESS SHOES SHUTDOWN LIST OF 400 STORES!

VANITY DIES

MASSIVE MACY’S MELTDOWN!

JCPENNEY HIT-LIST REVEALED! 138 STORES BEGIN SHUTTING DOWN IN TWO WEEKS!

OBAMA LEGACY: U.S. APPAREL INDUSTRY DEATH-SPIRAL

Business/Economics, Idaho, Technology

Rue21, Hi-Tech retail fail! Another blow for Chubbuck?

06 April 2017 / 20:07 UTC-07 Tango 06 (18 Farvardin 1396/10 Rajab 1438/11 Jia Chen 4715)

Rue21 issued a massive 4-hundred store shutdown list, Idaho will lose two stores, click here for the list.  To find out which store is closing click on your state, then click each city listed, the stores that are closing will have “Closing Store” posted above the location name.

Will the relatively new rue21 store in the Pine Ridge Mall be forced to shutdown?

Will the relatively new rue21 store in the Pine Ridge Mall be forced to shutdown?

Unnamed sources inside rue21 told main stream news media that the ‘teen’ clothing retailer is about to go bankrupt, and has hired counselors who specialize in shutting down and/or selling off brick-n-mortar stores.

In Chubbuck, Idaho, the Pine Ridge Mall has a large rue21 store.  The store opened only four years ago. It never seems to have a lot of customers.

Other main stream news media reports say rue21 has massive debts and failed to make loan payments.  Suppliers have even stopped shipments of new clothes for fear of not being paid.

At the beginning of this year rue21 created new executive positions, claiming they would “propel the company forward”.  Last year rue21 was described as being the largest fast growing fashion retailer in the United States, apparently that was a lie.

Don’t blame the internet, or hi-tech, rue21 has a website and uses the latest retail tech platform called Aptos.  The use of hi-tech resulted in rue21 winning the Gold Award for Customer Engagement, just last year!

Last year’s technology upgrades were an attempt to revive the clothing seller, obviously technology failed.

‘ZOMBIE’ PAYLESS SHOES SUDDENLY SHUTTERS 400 STORES! ANOTHER BLOW TO THE CITY OF CHUBBUCK?

OBAMA LEGACY: U.S. APPAREL INDUSTRY DEATH-SPIRAL

Business/Economics

“identify additional opportunities for….reduction”: Sears Kmart Death Spiral, April 2017

Sears shutting down 50 more Auto Centers and Kmart shutting down 92 pharmacies!  It’s an attempt to cut operating costs by $1.25-billion USD in 2017!

“Our investigation focuses on whether Sears and related Plan fiduciaries breached their duties in violation of the Employee Retirement Income Security Act of 1974 (“ERISA”) by maintaining the Sears company stock fund in the Plan, while the stock price plummeted and the company’s condition deteriorated. These breaches may have resulted in multi-million dollar losses of the Plan participants’ retirement earnings.”-Keller Rohrback LLP, contact attorney Tanya Korkhov

Seeking Alpha: “The option market says investors are willing to bet very hard on Sears going down.”

“Don’t hang onto them for five years from now. If you get a gift card, try to use it!”-Kayleena Speakman, Better Business Bureau of Central California warning people of store gift cards due to massive retail store shutdowns

Motley Fool: REIT Positioned to Profit From Sears Holdings’ Slow Demise

Is Pier 1 Imports doomed?  It was revealed that the newly former president of Kmart is now the new CEO of the Texas based retailer.

Itemlive.com: Man claims Sears did $3-thousand USD damage to his kitchen.

In California, the Southbay Pavillion Sears shutting down in the city of Carson.  Local news media pointed out that earlier in the year the official plans were to “downsize” the store, but as of 13 APR 2017 Sears Holdings confirmed they will actually shut it down in July.

In Florida, it’s been revealed that Sears will not renew the lease on a massive warehouse in Jacksonville.  The lease expires at the beginning of 2018, the $28.8-million USD warehouse was built specifically for Sears in 2008, it’s considered the largest warehouse in Florida.  The Hialeah Kmart shutting down by mid-July.  The Aventura Sears shutting down by Sears Holdings spin-off Seritage Growth, who owns the property.  Seritage Growth will re-develop the property into smaller retail spaces.  The property that the Milton Kmart (on US90) sits on is now for sale. The California based owner says he is not going to wait for Sears Holdings to shut the Kmart down, he’s selling the property while there is still an active Kmart on it.

In Iowa, the Waterloo the 48 years old Sears Auto Center shutting down by the end of May.

In Kansas, the Topeka Sears Auto Center shutting down by the end of May.

In New Jersey local news media discovered that Sears Holdings-Seritage Growth are tearing down the Watchung Sears store and Auto Center.  The Auto Center space has already been leased to Cinemark and the Sears store will be chopped up into smaller retail spaces.

In New Mexico, the Alamogordo Sears is shutting down by June.

Proof the shopping mall isn’t dead. In New York, the New Dorp-Staten Island Kmart (in the Hylan Plaza) shutting down by August.  Local news reports say the property is being redeveloped into a $150-million USD “multi-level shopping complex”. Gee, didn’t they used to call multi-level shopping complexes a ‘Mall’?  (in 2012 I warned that all these store shutdowns were part of a False Flag operation by Real Estate Investment Trusts: ALL PART OF REIT PLAN TO CHANGE THE WAY YOU SHOP, AND THEY BLAME YOU THE SHOPPER!)

In North Carolina, the Monroe Sears shutting down by the end of June.  Local news media reported that Sears Holdings has yet to make public what is now obviously a second round of shutdowns for the year.

In Ohio, the Beavercreek (Dayton) Kmart shutting down by mid-July.

News media in Pennsylvania confirmed that the Meadville Kmart is shutting down.  The store will shutdown by mid-July, the closeout sale starts at the end of April.  Kmart in East Stroudsburg shutting down by Summer, local shoppers say it was the last Kmart in the area and now the only retailer left is Walmart.

In South Carolina, the Northwoods Mall Sears in North Charleston shutting down.  The Auto Center will shutdown by the end of April, and the store will shutdown by mid-June.  Local news media discovered the Auto Center is already scheduled for subdivision. The lease expired and Sears Holdings will not renew it, saying “…we are working to actively manage our real estate portfolio to identify additional opportunities for reconfiguration and reduction of capital obligations.”

In Virginia, mall developer Core Property Capital is demanding taxpayers pay-up to fund the redevelopment of the vacant Christiansburg Kmart property!  They want Montgomery County to declare a special property tax district to raise taxes to pay for the redevelopment of privately owned commercial property!

In Washington, the Spanaway Kmart on Pacific Avenue South shutting down by mid-June.

Sears Kmart Death Spiral, March 2017: “SUBSTANTIAL DOUBT”

JANUARY 2017, SEARS KMART SELF-DESTRUCT, includes list of shutdowns back to 2011

Business/Economics, Idaho

‘Zombie’ Payless shoes suddenly shutters 400 stores! Another blow to the city of Chubbuck?

04 April 2017 (16:20 UTC-07 Tango 06) 15 Farvardin 1396/07 Rajab 1438/08 Jia Chen 4715

“…with the immediate closure of nearly 400 underperforming locations in the U.S. and Puerto Rico and work to aggressively manage the remaining real estate lease portfolio either by modifying terms, or evaluating closures of additional locations.”-Payless statement, 04 APR 2017

Despite Donald Trump running The White House, the Obama regime initiated apparel industry death spiral is ramping up.  Discount cheap-o shoe seller Payless suddenly ‘died’ today after filing for bankruptcy.

4-hundred U.S. stores forced to shutdown immediately!  The thousands of remaining stores around the world will undergo ‘managed’ shutdowns!  (click this link to the official shutdown list)

Payless is officially not dead, but should be considered a zombie retailer as executives struggle to keep the company going: “This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify. We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process. While we have had to make many tough choices, we appreciate the substantial support we have received from our lenders, who share our belief that we have a unique opportunity to enable Payless — the iconic American footwear retailer with one of the best-recognized global brands — to remain the go-to shoe store for customers in America and around the globe.”-Paul Jones, CEO

Payless in struggling Pine Ridge Mall, employees swear they've been told no shutdown for them

Payless in struggling Pine Ridge Mall, employees swear they’ve been told no shutdown for them

However, the Payless ShoeSource employees at the struggling Pine Ridge Mall in Chubbuck, Idaho, swear they are not being shutdown.  They claim that corporate administrators say the Chubbuck Payless is actually making money.

In related news, the Payless store in Pocatello, Idaho (which was quietly shutdown back in October 2016), was supposedly shutdown because of landlord/tenant problems, not lack of sales.

MORE ECONOMIC DECLINE: VANITY DIES IN IDAHO

U.S. RETAIL/BANKING/SERVICE SECTOR COLLAPSE, JANUARY 2017: Kansas based Payless shoe seller suddenly laid off 110 HQ employees!  Elsewhere, another 55 Payless employees were suddenly dumped.  Local news media say laid off employees were given no notice and were escorted out by security guards!

 U.S. RETAIL/BANKING/SERVICE SECTOR JOB LOSSES, OCTOBER 2016: Payless Shoes shutting down three stores in Illinois, right after Thanksgiving, blaming “landlord issues”.

U.S. JOB LOSSES & STORE CLOSINGS, SEPTEMBER 2014: NO MORE PAYLESS?

U.S. JOB LOSSES & STORE CLOSINGS, JANUARY 2013: Payless Shoes HQ in Topeka, Kansas, laid off 45 people and eliminated 97 vacant positions. New owners of Payless say the job cuts are an effort to keep the company operating.