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Sunday, November 02, 2008

Reports: Circuit City, Mervyn's to Close Stores

by Calculated Risk on 11/02/2008 04:34:00 PM

The Consumerist reports (hat tip Anthony):

According to anonymous insider tips, Circuit City is closing 155 stores and withdrawing from 12 markets. This will be officially announced tomorrow at 8am, says our source.
And from BusinessWeek: Mervyns to liquidate remaining 149 stores
Regional department-store chain Mervyns LLC said Friday it will close its remaining 149 stores and will hold going-out-of-businesses sales beginning Saturday.
Here is a partial list of companies that have closed stores (or bankruptcy / out of business): Linens 'n Things, Steve & Barry's, Sharper Image, Starbucks, CompUSA, The Disney Store, Wilson's Leather, Talbots, Ann Taylor, Bombay Co. and on and on ...

This is more bad news for mall owners.