That Mall is sick and that Store is dead!

January 27, 2009

Staunton Mall Directory, 1989

Filed under: belk,deadmalls.com,J.C. Penney,Staunton,Staunton Mall — Anita @ 4:22 pm

(I too cheap to just make a photocopy, so I’m typing it here @ the library)

(the original Staunton Mall post)

The F Stop
Lane Bryant
Hershey’s Jewerlers
Only One Dollar novelities
Burton’s Mens Store
Peoples Drug STore
Staunton Mall Offices
Waldenbooks
Piece Goods Shop Fabrics
JC Penney
K&K Toys
Payless Shoe Source
Woolworth
Fashion Bug
Staunton Mall Movie Theater
Boy’d Hardressers
Fun Time Arcade
Montomery Ward
Big Dipper Ice Cream
Athletic Annex
Matthews Hallmark
Ney’s Alfred Clothing Store
Sidneys
Legget
The Record Corner
Holliday Shoe Store
Kinney Shoe Store
Travel with Joy Travel
Family Barber & Beauty Shop
Radio Shack
Hofheimers Shoes
Sears Surplus Store
The Diamond Corner
Country Cookin
Glassner Jewelers
Lemons Jewerly
Merle Norman Studio
The Cinnamon Bear Bakery
The Mark-it
Altlas Tuxedo
Centerpoint Books
Hip Pocket
Bartley Richard Optical
Hayden Msic of Staunton
The Pearced Ear (yup, spelled that way)

January 18, 2009

Circuit City, Harrisonburg, VA

Filed under: Circuit City,dead chains — Anita @ 12:25 pm

Circuit CIty Closing Sale; Harrisonburg, VA

Circuit CIty Closing Sale; Harrisonburg, VA

Circuit CIty Closing Sale; Harrisonburg, VA

Circuit CIty Closing Sale; Harrisonburg, VA

Bedlam Breaks out at Circuit City {CNetArticle}

January 16, 2009

Circuit City to liquidate remaining US stores

Filed under: Circuit City,dead chains — Anita @ 12:24 pm

(I am not surprised. When I was shopping in the Newport News, VA (seen briefly in this photo of mine) location with my half sister this Christmas, I knew that was going to be my last time in there and it was sorta like when you’re saying goodbye to someone and they say they’ll stay in touch with you, but you know its not true)

Bankrupt Circuit City Stores Inc., the nation’s second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.

“This is the only possible path for our company,” James A. Marcum, acting chief executive, said in a statement. “We are extremely disappointed by this outcome.”

The company had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries proved insurmountable.

The liquidation of Circuit City is the latest fallout from the worst holiday shopping season in four decases. People have slashed their spending since the financial meltdown in September as they worry about their job security and declining retirement funds.

Other recent casualties include KB Toys, which filed for bankruptcy in December and is liquidating stores. Department store chains Goody’s Family Clothing and Gottschalks Inc. both filed for bankruptcy this week — Goody’s plans to liquidate, while Gottschalks hopes to reorganize.

Industry experts expect more bad news in the coming months as spending likely will deteriorate further.

Circuit City said in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.

“Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders,” Marcum said.

Shareholders are likely to receive nothing, as is typical in bankruptcy cases. It was unclear what would happen to the company’s 765 retail stores and dealer outlets in Canada.

“Very, very sad,” said Alan L. Wurtzel, the son of company founder Samuel S. Wurtzel, and the chief executive from 1972 to 1986, board chairman from 1986 to 1994 and vice chairman until 2001. “I feel particularly badly for the people are employed or until recently were employed.”

Wurtzel has previously said Circuit City didn’t take the threat of rival Best Buy Co. seriously enough and, at some points, were too focused on making a profit in the short term instead of building long-term value.

Circuit City filed for Chapter 11 bankruptcy protection in November as vendors started to restrict the flow of merchandise ahead of the busy holiday shopping season.

It had been exploring strategic alternatives since May, when it opened its books to Blockbuster Inc. The Dallas-based movie-rental chain made a takeover bid of more than $1 billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games. Blockbuster withdrew the bid in July because of market conditions.

Circuit City, which said it had $3.4 billion in assets and $2.32 billion in liabilities as of Aug. 31, said in its initial filings that it planned to emerge from court protection in the first half of this year.

Under court protection, Circuit City has broken 150 leases at locations where it no longer operates stores. The company already closed 155 stores in the U.S. in November and December.

U.S. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved. The company still needs final approval of a liquidation from the court.

The liquidation is the latest big blow to the nation’s malls, which have suffered from a rise in vacancies as a slew of chains from Mervyns LLC to Linens ‘N Things have liquidated. But analysts say that the demise of Circuit City, whose stores range in size from 20,000 to 25,000 square feet, will hurt the fortunes of mall operators even more.

“It will bring to market a glut of big box spaces across the country,” said John Bemis, head of Jones Lang LaSalle Inc.’s retail leasing team. “It will have one of the largest impacts on big box real estate across the country.”

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Daily Press (Hampton Roads, VA)

Photobucket

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Va Pilot (Hampton Roads, VA)

Hampton Roads has five Circuit City stores: Janaf Shopping Center in Norfolk; the Greenbrier area in Chesapeake; Portsmouth Boulevard near Chesapeake Square Mall in Chesapeake; South Independence Boulevard near Town Center in Virginia Beach; and the Oyster Point area in Newport News.

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Former Circuit City? Colonial Heights, VA

Dead Circuit City, Colonial Heights, VA.

I took this picture in December of 2007, and forgot to make an entry about it here. I don’t know how long its been closed.

January 14, 2009

Which retailers are next for bankruptcy? – MSN Money

Filed under: potential dead chains — Anita @ 10:47 pm

Which retailers are next for bankruptcy? – MSN Money.

I hope their predictions about Claire’s is wrong. Where would I go to buy my big earrings at?

January 8, 2009

“Macy’s will shutter 11 stores in 9 states” (Yahoo!)

Filed under: deadmalls.com,Macys — Anita @ 12:45 pm

Photobucket

NEW YORK – Department-store operator Macy’s Inc. said Thursday it will close 11 underperforming stores in nine states — affecting 960 employees — and lowered its forecast for the fourth quarter after one of the weakest holiday seasons in years.

Stores slated to close include locations in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis, among others. Cincinnati-based Macy’s Inc. says the closures will cost about $65 million, most of which will be booked in the 2008 fourth quarter.

Clearance sales at the stores begin next week.

“These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores,” said Macy’s Chief Executive Terry J. Lundgren in a statement.

Employees at the stores that are closing may be considered for open positions at other Macy’s stores, the company said.

Department-store operators have been among the harder-hit in the retail sector as consumers cut back amid the recession, hunting for bargains and trading down to discounters.

Macy’s reported Thursday that its December sales at stores open at least a year, or same-store sales, fell 4 percent — still not as bad as the 5.3 percent drop analysts surveyed by Thomson Reuters were expecting.

Total sales for the five-week period ended Jan. 3 fell 5 percent to $4.4 billion from $4.61 billion last year.

Same-store sales fell 7.5 percent during the combined November and December holiday period. Macy’s said the holiday season ended with improving sales in the fourth and fifth weeks of December but that sales were sluggish before that.

The company said it marked items down sharply in the fourth quarter to gain sales and reduce its inventories, but that hurt its margins and led it to lower its profit forecast for the fourth quarter and full year.

Macy’s now expects earnings of 90 cents to $1 per share in the fourth quarter, down from its previous guidance of $1.10 to $1.30 per share. Analysts expect earnings of $1.11 per share.

For the full year, the company now expects to earn $1.10 to $1.20 per share, down from its previous forecast of $1.30 to $1.50 per share. Analysts expect a profit of $1.35 per share.

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here is the release on the closing stores I notice some of our friends over at deadmalls.com on the list such as Randall Park, Crossroads Mall in Oklahoma, and Rolling Acres Mall.

I’m really surprised the one at where Coliseum Mall used to be in Hampton, VA didn’t shut down.

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