{"id":109160,"date":"2021-01-09T12:15:42","date_gmt":"2021-01-09T17:15:42","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=109160"},"modified":"2021-01-09T11:48:07","modified_gmt":"2021-01-09T16:48:07","slug":"more-things-chaging","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=109160","title":{"rendered":"More Things Changing…."},"content":{"rendered":"

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A few months ago, I posted an article about stores that were closing due to drops in sales, or getting more business through online shoppers than at their storefront locations.<\/p>\n

Well, it\u2019s going even further now: some of the big old legendary retailers are shuttering their stores and in some cases, just going out of business, period. Can\u2019t keep up with the times, or something like that. Online shopping is a factor, and the smarter companies take advantage of it, but the on-site retailers who still went by their brand recognition did not keep up with the changing environment in shopping.<\/p>\n

The closest resemblance to online shopping now is those days when the Sears & Roebuck or Montgomery Ward catalogs were loaded into your mailbox, brining retail goods to your home. It was even possible, with Sears & Roebuck, to buy farm animals like cattle, sheep and chickens and farming equipment, because Sears catered to farm families back then. Unfortunately, neither Montgomery Ward nor Sears adjusted well to mall shoppers, and Montgomery Ward went out of business first. Sears has followed right behind it, locked in with Kmart. Between them, those 2 franchises have been reduced to 128 stores and are not doing well.<\/p>\n

And there appears to be a long line of familiar storefront retail chains falling in behind Sears and Kmart.<\/p>\n

Here\u2019s the link for the full list of closings: \u00a0https:\/\/www.usatoday.com\/story\/money\/2020\/12\/30\/store-closures-2021-macys-jcpenney-among-vulnerable-retailers\/3974684001\/<\/a><\/p>\n

From the article:<\/p>\n

J.C. Penney<\/strong><\/p>\n

The department store chain\u00a0filed for Chapter 11 bankruptcy protection in May\u00a0<\/a>after its sales collapsed amid temporary store closures.<\/p>\n

The company was at risk of total liquidation for months as it negotiated with its creditors. After\u00a0reaching a deal to sell\u00a0to a consortium of property owners<\/a>, including mall company Simon Property Group, J.C. Penney emerged from bankruptcy in December having closed more than 150 stores.<\/p>\n

Rite Aid<\/strong><\/p>\n

Rite Aid’s outlook has been gloomy for several years and Moody’s considers the company to be a “very high credit risk.”<\/p>\n

The company is stuck in an uncomfortable netherworld: not big enough to present a big threat to drugstore\u00a0rivals Walgreens and CVS but not agile or rich enough to reinvent itself.<\/p>\n

A few bad breaks haven’t helped: A merger deal with grocery chain Albertsons collapsed in 2018, leaving the company’s path to reinvention unclear.<\/p>\n

Jo-Ann Stores<\/strong><\/p>\n

This fabrics retailer remains on the edge of trouble. Owned by private equity firm Leonard Green & Partners, Jo-Ann faces the challenge of digging out of debt while dealing with the retail industry’s other challenges.<\/p>\n

Private-equity ownership has been a problem for many other retailers in recent years, such as Toys R Us<\/strong>, which liquidated after accumulating too much debt and facing intense competition.\u00a0\u00a0\u2013 article.<\/p>\n

With a giant retailing center like Amazon, where you can get literally anything including the original \u201cPoldark Cookbook\u201d from that popular TV series, even the malls that were so popular for your kids to go to on weekends, because everything was there \u2013 movies, food, bathrooms, shopping, even gyms if the mall was big enough \u2013 are beginning to close down or being repurposed into facilities for other uses. Neiman Marcus is already on Moody’s list of vulnerable retailers based on their financial circumstances.\u00a0\u00a0Companies like Gander Mountain, long since sold and restructured, relied too heavily on a select market group, whereas a company like L.L.Bean in Maine pulled back, regrouped, and re-examined their retail and catalog market, and went with that. \u00a0Bass Pro Shops picked up Cabela\u2019s and has stayed in business. Retailing is a tricky business, but it does not mean \u201cexpand and go broke\u201d.<\/p>\n

This CV19 pandemic may have done some good in some way. Nobody saw it coming, anywhere.\u00a0\u00a0People are out of work, anyway, and if the online shopping method is on the rise, some businesses are willing and able to take advantage of it, while those businesses that expanded too far and too fast are in trouble. It isn’t that neighborhood shops will disappear. Those come and go like leaves in the wind. It’s just that things are changing, and change is uncomfortable. Places that were closed up and drowsy are coming back to life, despite the disadvantages they face. Nothing, including disasters, lasts forever.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few months ago, I posted an article about stores that were closing due to drops … More Things Changing….<\/span>Read more<\/a><\/p>\n","protected":false},"author":653,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-109160","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/653"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109160"}],"version-history":[{"count":1,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109160\/revisions"}],"predecessor-version":[{"id":109161,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109160\/revisions\/109161"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}