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25% Of Retailers May Go Bankrupt

25% of Retailers May Go Bankrupt

Analysts estimate that from about 10% to 26% of all retailers are in financial distress and in danger of filing for Chapter 11. AlixPartners LLP, a Michigan-based turnaround consulting firm, estimates that 25.8% of 182 large retailers it tracks are at significant risk of filing for bankruptcy or facing financial distress in 2009 or 2010.
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Bankrupt May Retailers

News posted:

Hmmm. As a small business owner recently put out of business by a large business, my initial reaction is, "Yay!"

While the job loss will smart, we so often hear politician's lip service in saying, "small business is the backbone of our country."

Yeah, whatever. Have you heard of the government bailing out any small businesses? If more big businesses would be allowed to go out, there would be room for more backbone!

25% Of Retailers May Go Bankrupt History & Civil Business Politics

That is sad, may I ask which part of the market you were in and what your plans are now?

Bankrupt May Retailers

From what I have heard today in the financial news I believe that it could be up to 30% instead of just 25%. I believe that while things seem to be moving the right way today tomorrow will spell another day of losses as the gas inventories come out. They are talking now that more lay offs are coming in the first couple weeks of January. I still am looking for the stock market to be under 8,000 by the middle of January.

Bankrupt May Retailers

JB asked:may I ask which part of the market you were in and what your plans are now?

I opened a retail game store. I ran it for 7 years. Walmart was a part of putting me out, but gaming trends affected the store as well. More and more were going to internet rpg's, etc. The bulk of our money was from Collectible card games, particularly Pokemon, then Yugi-oh, and, of course, magic.

The first two games were played at leagues and tournaments at my store by lots of kids, but most of the cards were purchased at Walmart, since the kids found it easiest to beg their parents for them there.

Oh well.

Current plans: pay off some debts left from the store, and start another business!

A game store may not be a huge market indicator, but MANY home-owned stores and businesses in southern Utah are closing out. It's sad. Most that remain have drastically reduced the types of inventory they carry, because of the big box stores.
What to do, what to do.