22 Retailers Closing Stores

Rikki said:
My store "Windsor's" may not reopen. It depends on sales. (they were good until things got shut down.)
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@Rikki I had difficulties with my business about 8 years ago and I know how you feel.

But you should not be afraid to look at starting online business. Maybe you can serve local community with home deliveries and by working from home and using your garage as warehouse. Online business is not much different to brick & mortar and one can learn quickly. Instead of paying rent to landlord you are paying for advertising to Google and Facebook.These are two main sales channels. Most people without any technical skills knock out online shop, with all the bells and whistles, using Shopify in one day.

Use lockdown to watch YT videos about SEO, AdWords and Facebook advertising. All of these videos are actually sales pitches for business courses, but you understand business and you can filter out marketing speak from reality using your experience.

As they say "If you can't win them, join them"
 
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Dejan Corovic said:
@Rikki I had difficulties with my business about 8 years ago and I know how you feel.

But you should not be afraid to look at starting online business. Maybe you can serve local community with home deliveries and by working from home and using your garage as warehouse. Online business is not much different to brick & mortar and one can learn quickly. Instead of paying rent to landlord you are paying for advertising to Google and Facebook.These are two main sales channels. Most people without any technical skills knock out online shop, with all the bells and whistles, using Shopify in one day.

Use lockdown to watch YT videos about SEO, AdWords and Facebook advertising. All of these videos are actually sales pitches for business courses, but you understand business and you can filter out marketing speak from reality using your experience.

As they say "If you can't win them, join them"
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Thanks! My husband and the company he works for is building a website for my shop. we should be on line by the 3rd.
I'm looking forward to some robust online sales!
Blessed be
Rikki
 
JCPenney is reportedly considering filing for bankruptcy and closing hundreds of stores
JCPenney is preparing to file for bankruptcy as early as next week, though no final decision has been made, Reuters reported Friday, citing people familiar with the matter.

According to Reuters, about a quarter of the chain's roughly 850 stores could permanently close.

A representative for JCPenney declined to comment to Business Insider.

The department store has nearly $4 billion in debt. It missed a debt payment on April 15 but has a 30-day grace period that ends next Friday.
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For the past 10-15 years, I've been wearing a particular style and brand of shoe only available from Payless. For that reason I was perturbed when they announced their bankruptcy. A couple of months ago I learned that they had started to operate online. But oddly, the new Payless site redirects to Amazon. Fortunately, at Amazon I found the shoes in question at the original price, and ordered several pairs. I'm not sure whether Amazon bought up Payless' inventory, or what the deal is. Anyway, I made out okay.
 
wwkirk said:
I'm not sure whether Amazon bought up Payless' inventory, or what the deal is.
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The deal is, if you are a retailer, you don't even need to have a warehouse. "Fulfilment centers", like Amazon will warehouse and dispatch goods for you. As well you can have a minimum "just-in-time" stock so you minimize risk and increase turnover. It's so much more efficient, it can't even be compared.

All you end up doing is brand development and sales, while the fulfillment center does all the logistics for you. Even one better, you can get "fulfillment" directly from China and even bypass the Amazon itself.

Only people who are complaining are those who don't understand what is going on or, indeed, who are heavily invested into traditional ways of doing things.
 
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wwkirk said:
I have to admit, ever since Kmart and Walmart came into being, I virtually never went to J.C. Penney.
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Years ago I used to shop for clothing at JC Penny and Macy's but before the Coronavirus I was going to Kohl's more than those two other stores...Now recently I haven't been buying any clothes, I do need some new sneakers though lol...

...
 
Anybody who is in retail business must watch what Mark Zuckerberg is saying here:



This is what I was saying for a long me. Facebook's AI created opportunities for thousands of small businesses to flourish.
 
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