22 Retailers Closing Stores

Discussion in 'Present & Current Events' started by Toroid, Aug 25, 2017.

  1. Standingstones

    Standingstones Celestial

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  2. The shadow

    The shadow The shadow knows!

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  3. wwkirk

    wwkirk Celestial

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  4. nivek

    nivek As Above So Below

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    Online?...

    ...
     
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  5. Kchoo

    Kchoo At Peace.

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    I wonder... once the department stores are gone, will Amazon raise their prices?
     
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  6. Dejan Corovic

    Dejan Corovic Noble

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  7. The shadow

    The shadow The shadow knows!

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    sad.. and all to common..
    An off topic request sir. please take a moment to look at my 98 UFO sighting. let me know if you agree with my opinion on what was seen
     
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  8. Dejan Corovic

    Dejan Corovic Noble

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    Please provide link.
     
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  9. Toroid

    Toroid Founding Member

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    The Hallmark store in my area is going out of business. They have expensive gifts and cards.
     
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  10. Toroid

    Toroid Founding Member

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  11. nivek

    nivek As Above So Below

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    All of these shops closing around the world adds up to a huge amount of property, parking lots, buildings empty...I think abandoned buildings, empty unsellable buildings and paved lots are another form of pollution and an eyesore on the landscape...

    ...
     
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  12. Toroid

    Toroid Founding Member

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    I heard probably during a C2C show that the Grays told an abductee that we've paved over too much of the planet.
     
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  13. Toroid

    Toroid Founding Member

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    Bed Bath & Beyond to close 40 stores this year as it struggles to compete with online retailers | Daily Mail Online
     
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  14. nivek

    nivek As Above So Below

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  15. nivek

    nivek As Above So Below

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    The retail apocalypse in full swing: Gymboree closes 800 stores, Shopko 105, Payless 2300, Charlotte Russe 400. What’s behind it? Some blame Amazon or changing taste, but the real culprit is private equity. We’ll explain how PE makes money as these businesses fail.


    Private Equity Pillage details the business model that allows private equity firms to bankrupt chains, throw workers out of jobs, stiff vendors and still make a profit, in the context of grocery stores. 2/12 https://cepr.shorthandstories.com/private-equity-pillage/index.html …


    [​IMG]

    Here’s an overview of the business model. Private equity firms have rigged the process so they can extract profits not only from their investors (often public pension funds) but also from the companies that it “invests” in. Here's how:

    [​IMG]

    Investors, using money from public employees' pensions for example, put their $$$ in a particular private equity fund. Right off the bat, the private equity firm makes a profit because they collect management fees for just accepting the money.
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    The traditional story is that private equity firms invest in already distressed companies. Yet more and more they are healthy, proven companies that the PE firm then forces to take on debt (which the company now pays interest on). This erodes its ability to stay competitive.
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    On top of the new financial pressures a company faces from this debt, it *also* pays monitoring fees to the PE firm. It may need to sell assets too, like real estate, and then pay rent to occupy the buildings it once owned. Where do the proceeds go? Usually, the PE firm.

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    With all this money being siphoned off from the company, it is in a much more difficult position to compete.

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    Case in point: Albertsons, the 2nd largest grocer, struggles to compete, unlike Kroger's (the largest). The difference? Albertsons is owned by PE firm Cerberus and lacks $$$ to invest in multi-modal retailing. Kroger's can do all that Amazon-owned Whole Foods does & more.

    Now in a precarious situation, the company might liquidate, restructure, or be sold. None might be the PE firm's most desirable outcome, but financial engineering usually ensures that it comes out on top (and it might be first in line to divvy up assets).

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    Even if the PE firm doesn't make money from the bankruptcy, it has made money throughout the entire process via fees on its investors and the company it acquired, as well as from the assets the company sold off. The losers? Workers, investors like pension funds, vendors.

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    But common sense reforms can help. These could be limiting the debt an acquired company can take on, being transparent about fees, limiting payments to PE firms in the aftermath of a buyout, making PE firms joint employers, and protecting workers if a company goes bust.


    Private equity gets away with all of this because of loopholes in current law. But that doesn’t mean what they are doing makes sense for either workers or the economy. We need reforms that center workers and others taken advantage of in the current PE model.


    [​IMG]

     
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  16. SOUL-DRIFTER

    SOUL-DRIFTER Life Long Researcher

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  17. Standingstones

    Standingstones Celestial

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    One thing that bothers me about all these store closing is that we now have all these concrete eye sores blotting the landscape. Some in my area have been sitting idle for years. The idea that some new company will come in and occupy these buildings doesn’t seem realistic. It is hard to speculate on what will happen to these vast tracks of land with empty buildings just sitting there.
     
  18. The shadow

    The shadow The shadow knows!

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    20190423_102808.jpg 20190423_102847.jpg
    end of the line for shopko
     
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  19. Toroid

    Toroid Founding Member

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    Party City is closing around 45 stores because of a global helium shortage.
    https://nypost.com/2019/05/10/party-city-closes-dozens-of-stores-amid-global-helium-shortage/
     
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  20. nivek

    nivek As Above So Below

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