out-of-business
—>The Washington Post notes that although Saturn dealerships have until this time next year to close, many will be saying goodbye sooner due to low inventory, and that's partly why now is a good time to buy a Saturn. That is, if you don't plan on reselling it in a couple of years. More »
—>In today's marketplace, going out of business doesn't mean you go away forever. Your storefronts may disappear, but you'll just pop up again online—like CompUSA and Circuit City—or you'll come back on someone else's shelves as a brand, like Linens 'N Things. More »
—>Score one for the consumer over unfair arbitration. Just last week, Minnesota's Attorney General sued the National Arbitration Forum (NAF) for fraud, false advertising, and deceptive trade practices—and now the company has agreed to pull out of the credit card business entirely. According to the settlement reached on July 17th, "The only business NAF can now be involved with is in arbitrating Internet domain disputes, a business it has long been in." More »
Hershey is closing its online store (www.hersheygifts.com) at the end of the month, saying they can't keep it running in this economy. If you like their "chocolate" products, everything on the site is on sale for 25% off. [LA Times] (Thanks to Robert!) More »
—>Even the hearty television presence of Alan Thicke couldn't help Consolidated Resorts, Inc., a company owned by Goldman Sachs that sold timeshares, from going belly up. An anonymous tipster emailed us yesterday to say that they "just laid off most of their staff, including all collections, customers service, marketing, information technology departments." And according to this insider, this is good news for consumers. More »
—>Christopher and his wife bought a crib through a local store, and two and half months later they still haven't received it. Now the store is going out of business, and Christopher isn't sure what he can do to get his money back. More »
—>After seeing our photo evidence of the sorry state of the St. Peters, MO, Circuit City yesterday, Eric decided to check out the final days of the Circuit City in Poughkeepsie, NY. He writes, "On one clearance table, among the overpriced cables, I saw this. I'm not sure what this was doing there, but it's probably something the Circuit City executives should have read a few years ago, huh?" Yes, but it's never too late! Those executives are going to end up working somewhere after all. By the way, do CC execs get a liquidation discount? More »
—>It was bound to happen, and it looks like it just did: Peanut Corporation of America has filed for Chapter 7 bankruptcy, and will liquidate its assets to pay off creditors. More »
—>Regional jeweler Fortunoff has thrown in the towel and filed for bankruptcy today. The retailer cited terrible holiday sales, a "severe liquidity crisis" in January, and the cost of expanding its jewelry line into Lord & Taylor stores as reasons. Fortunoff was brought out of an earlier bankruptcy about a year ago by a private equity firm, but it didn't take. More »
—>Now that Circuit City has finally sputtered out, it's fun to talk about what did them in—see their firing-your-best-employees stunt a few years back, for example. But what do former Circuit City employees think? This guy worked with them from 1997 to 2002, and he says for one thing, they should have never stopped carrying appliances. More »
