It’s time for retailers to start placing their orders for the items that will be on shelves during this holiday season, but one thing may be different from last year: they may be ordering less merchandise on consignment after millions of dollars’ worth of merchandise was stuck in legal limbo during the bankruptcy of big-box sporting goods retailer Sports Authority. [More]
Following in the footsteps of companies like Blockbuster, Borders, and other retailers that sold or rented books, movies, and video games, Hastings Entertainment is bowing to years of faltering sales, filing for bankruptcy on Monday. [More]
One of L.A.’s most well-known boutique chains — a relic of the “glory days” of reality TV — is no longer peddling pricey blouses, pants, and accessories to the semi-famous, with Kitson shutting down all 17 of its stores, and its online business.
You may remember Central Standard Timing, the company that raised more than $1 million on Kickstarter to produce neat e-ink watches that look like slap bracelets with digital displays. The team behind the product said that they had simply run out of money to produce the watches, and all they have left are piles of components, technical specifications for assembling the watches, and an amazing plan that didn’t quite work out. [More]
While Frederick’s of Hollywood is a much smaller chain than other recent retail collapses like
Delia’s dELiA*s, Wet Seal, and the impending loss of thousands of Radio Shacks, we’re still sad to share the news that about one-third of stores in the lingerie chain will close. While we don’t have the list yet, we do know one store on it: the chain’s flagship store in Hollywood. [More]
The end of 2014 and beginning of 2015 have not been kind to teen-oriented retailers. Back in December, we learned that dELiA*s was bANkruPt and starting to liQuid8 its inventory. This week, Wet Seal announced that it will close two-thirds of its stores. Now another mall staple is putting down the store gate for good: Deb is liquidating and closing all 295 of its stores. [More]
If you’ve always dreamed of owning a giant gumball machine, a movie ticket-shaped “OPEN” sign, or hundreds of empty DVD cases, you’re in luck. While it’s sad that Blockbuster Video locations are finally shutting down, this is a boon to anyone who wants to pay strange prices for the equipment to open their own DVD rental store. [More]
Savvy shoppers know that there aren’t any true deals to be found at the liquidation sales of closing retailers, but most people aren’t savvy shoppers. Employees of doomed Borders stores are sharing their experiences online, and report that their stores are doing record business now that the liquidators have arrived and the garish “store closing” signs are up. Thanks to consumer confusion, business is good at the stores that aren’t closing, either. Who knew bankruptcy was so good for business?
With a week to go before the deadline runs out on Chrysler’s bailout — it’s looking less and less likely that the automaker will be saved from liquidation.
Sorry deal hunters, the liquidation sales starting today at over 300 Ritz Camera locations will be managed by the same cabal of corporate scavengers that oversaw Circuit City’s abysmal liquidation sales.
With two weeks to go before the government deadline to approve GM’s restructuring plan, the AP says that GM’s CEO Rick “The Station” Wagoner told the press that if GM is allowed to go into bankruptcy, it will simply be liquidated.
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?
WCVB TV in Boston has an interview with two Circuit City liquidation customers who are out $1,100 after they bought a Samsung LCD TV from Circuit City’s liquidation sale — only to find out that it was totally shattered. When they tried to return it — Circuit City’s liquidator told them the merchandise was sold “as is” and cannot be returned for any reason. WCVB TV says there’s a sign in one store telling customers not to open the merchandise, and another that allows customer to check their merchandise only after they’ve paid for it. Is this ethical?