Retail Tsunami: 16 Major Chains Closing More Stores

Woolworths store closing

(Daniel Jennings)  The economy appears to be in far worse shape than the major media outlets would have us believe.

In fact, if you want to see how bad the economy really is, simply visit your local shopping center. There you will find that headlines about a retail tsunami – as CNBC put it — are accurate.

Unfortunately, it could be just the tip of the iceberg. Recent news stories show that American retail is in a desperate situation and the entire economy is on very shaky ground.

Here are 16 companies that have closed stores or will close stores soon:

  • Office supply company Staples has announced plans to close 225 stores by 2015, which is about 15 percent of its chain. Staples already closed 40 stores last year. Industry analysts expect Staples’ main competitor, Office Depot, which bought OfficeMax last year, to announce its own round of store closings soon.
  • Radio Shack has announced plans to close 20 percent of its stores this year, which is as many as 1,100 stores. The company, which operates around 4,000 stores, reported that its sales fell by 19 percent last year.
  • Albertsons closed 26 stores in January and February according to Supermarket News. Analysts expect many more Albertsons could soon be shuttered because Albertsons owner hedge fund Cerberus Capital Management just bought Safeway Inc. Some Safeway stores could soon shut down as well.
  • Clothing retailer Abercrombie & Fitch is planning to close 220 stores by the end of 2015. The company is also planning to shut down an entire chain it owns, Gilly Hicks, which has 20 stores, 24/7 Wall Streetreported.
  • Barnes & Nobles is planning to shut down one third of its stores in the next year: about 218 stores. The chain has already closed its iconic flagship store in New York City.
  • J.C. Penney is closing about 33 stores and laying off about 2,000 employees.
  • The Record newspaper in New Jersey reported that Toys R Us has plans to close 100 stores.
  • The Sweetbay Supermarket chain will close all 17 of the stores it operates in the Tampa Bay area, The Herald Tribune newspaper reported. Many of the stores might open as Winn-Dixie Stores. Sweetbay closed 33 stores in Florida last year.
  • The entire Loehmann’s chain of discount clothing stores in the New York City area shut down. Loehmann’s once operated 39 stores, The New York Times reported, and was considered an institution by generations of New Yorkers.
  • Industry analyst John Kernan told CNN that he expects Sears Holdings, which owns both Sears and Kmart, to close another 500 stores this year. Sears has already shut down its flagship store in Chicago.
  • Quiznos has filed for bankruptcy, USA Today reported, and could close many of its 2,100 stores.
  • Sbarro which operates pizza and Italian restaurants in malls, is planning to close 155 locations in the United States and Canada. That means nearly 20 percent of Sbarro’s will close. The chain operates around 800 outlets.
  • Ruby Tuesday announced plans to close 30 restaurants in January after its sales fell by 7.8 percent. The chain currently operates around 775 steakhouses across the US.
  • An unknown number of Red Lobster stores will be sold. The chain is in such bad shape that the parent company, Darden Restaurants Inc., had to issue a press release stating that the chain would not close. Instead Darden is planning to spin Red Lobster off into another company and sell some of its stores.
  • Ralph’s, a subsidiary of Kroger, has announced plans to close 15 supermarkets in Southern California within 60 days.
  • Safeway closed 72 Dominick’s grocery stores in the Chicago area last year.

The Obama administration may tell Americans the economy is recovering, but the retail industry — and economic data — say something very different.


    It will be a tough year for retailers….especially the food/grocery industry

    • clete

      no jobs no money equal slow death

  • Jason

    Whatever the Obama adm says, you can count on the opposite to be true. They are liars and communists who are bent on destroying America while pretending to want to help it succeed. This is all being done for the coming of antichrist.

    • Max Weber

      agree totally. Communists always lie, and we have only communists now running things (both parties). antichrist coming is a correct observation too.

      • How Not To Play The Game

        America has been couped by a fascist regime. Aided by a complicit Congress. And no one as much as broke wind. Pathetic actually.

        • farang


      • Jim

        And Teabaggers always suck. Don’t hold your breath waiting for the second coming of Christ, either.

        • Scotster

          Too bad, so sad, you prefer to drink the Koolaid over the Tea.

          • Jim

            So you like the taste of Koch?

          • Scotster

            Naw, I tend to stay away from things that come from Chicago.

        • Juan Reynoso

          By: Juan Reynoso, activist –


          “Americas must realize that
          self-scrutiny is not treason. Self-examination is not disloyalty.”

          America has lost their moral compass. Greed
          and the love for money is a sin

          Fellow Americans, the Federal Reserve Bank strategy to boost
          the economic fail, years of low interest rates benefit only big money, these
          very, very low interest rates is what created this huge economic disparity. The
          wealthy are the only ones that benefited
          from this Federal Reserve ill policy, while the poor got poorer, no jobs,
          consumer debt increased, students debt defaulting, trade deficits and no
          investment on job creation initiatives is the result of this policy. The coming
          economic crisis of 2015 will be worse than the 2008; Washington should know
          that lies are not going to fix this economic mess, and the wealthy will no
          invest on any job creation that will get us out of this mess because they know
          that nothing will save us from the coming economic collapse. So we have president Obama who says we’ve got
          to fight this concentration of wealth and income disparity, but we have the
          Federal Reserve Bank continuing given the rich free money so they can invest in
          equity that will give them the advantage of take over real state and make huge profits,
          but zero jobs are being created with this free money.

          The U.S. dollar has lost 38.5% of its value since 2002 and
          the average U.S. workers have lost 52% of their purchasing power due to loss in
          income and the loss of value of the Dollar. The US Neocon Globalist strategy is
          to make the American people economic slaves.

          Let’s review this US Neocon Globalist agenda; since
          Reagan was inaugurated more than 1/2 of the US manufacturing jobs have been
          “offshored” through NAFTA & GAT, these factory jobs went to Latin America,
          Mexico, China, India and smaller Asian countries, US factory workers are now
          competing with $2 per day slaves, these countries possess 40% of the world’s
          population, therefor the US and the EU will have more generations of $2 slaves
          waiting for a spot on the factory floor to produce goods for the US and the EU
          markets, this will cover the control and exploitation of humanity; now the
          control and exploitation of natural resources come by the use of bribery and
          military interventions and all this is done in the name of democracy, human
          rights, equal opportunity, social justice, national security and protecting
          American interest from the evil of terrorism, communism, socialism and the
          criminals drug traffickers.

          Fellow Americans, we need to seek the truth, most Americans
          are smart and can put two and two together and use their common sense to see
          the big picture. We are being betrayed by the people we send to Washington. The
          wars on terrorism, the war on drugs, the military interventions, and the bail
          out of the financial system, the militarization of the police force, free trade
          and globalization are self-programed by our government, “the US Neocon
          Globalist” to destroy the USA and make it part of the north American economic
          block to control the world economic.

          The Neocon Globalist are the colonizers of the 21st
          century, they work together to exploit the world’s human and natural resources.
          This organization is comprise by the UN-IMF- The world Bank- The WTO, The
          predator US, UK and EU corporations and their cronies the Governments of the
          US, The UK and The EU. China huge pool of cheap labor will become richer and
          will buy assets in Latin America, Africa and Asia and Russia will control Easter

          must stop the predator corporatism; they control our government by political
          contribution, the political bribery system. Join us now.

          To share this please
          clicks here Share

          Sources for this article

          America’s Economic

          Neocon Globalist- Agendas of the
          Global Elite

          Neocon Globalist” Aspects of the
          George W Bush Administration

          Neocons “counterfeit
          conservatives” exposed

          The Forever Wars

          They get richer by producing or


          The neoconservative US government is
          the Third Reich

          US military move response to China
          dollar dumping.

          Discover the Biblical secrets to safe
          and profitable investing.

          Is Russia Dumping Nearly $118 Billion
          in U.S. Gov’t Bonds.

          The Chinese and Australian move to
          oust the Dollar.

      • Donald Adkins

        I love that people don’t know what communism, and socialism, and capitalism are. It’s the fucking internet, read sites that contain facts before you bash people that have nothing to do with what your vitriol falls upon.

        • Scotster

          I love that people that think they know everything get on these comments threads and tell others that they don’t know anything. BLAH BLAH BLAH.

      • gato felix

        @max also agree with the statement, except for communist, all politicians in all forms of government lie!!! And yes the antichrist is about to rear it’s ugly head!!!

    • farang

      I’m afraid that when the Wall Street puppet Obama accepted $70 million from those banksters in his initial election campaign, he threw any pretense of “communism” right out the window.

      It is blatant Fascism, and you need to consult a dictionary, Jason.

    • pitman45

      The Affordable Care Act has coverage for people like you and Max who suffer from Obama Derangement Syndrone. When is The Rapture going to lift all you wingers and baggers into the sky so the rest of us can live our lives on Earth in Peace and Harmony?

    • gato felix

      @jason totaly agree with your statement, the problem though is this, anything that ends in “ism” is eventually bad for the common man!!! And yes the road is being paved for the anti-christ, any time an elected official mentions the NWO, or a pope for that matter!!!

  • Alleged Comment

    Actually, it is nothing to worry about. I have seen some of these stores and I tell myself why the hell did they open one here? It is not needed at all! So, what really happened was management driven by shareholder expectation opened nonsensical stores to give the illusion of expansion to raise stock prices artificially. Now everyone awoke from the dream and is experiencing the nightmare they invoked.

    Some stores should NEVER close obviously as we still need them around no matter what, but they seriously over-extended themselves into the “too much” category.

    • throwthemout

      amazon and other online stores are also taking the toll on “brick and mortar” stores

      • silverstein

        Amazon is actually the problem here. They intend to run at zero earnings, or a loss, until all their competition (local stores) are out of business.

        Most people don’t care about anything except price, and shipping costs are covered by the local sales tax they don’t have to pay. Most people don’t see the connection between saving a buck or two, and saving their own or their neighbor’s job.

    • Max Weber

      you’ll think its nothing to worry about until the wave of unemployed hits the streets again from these closings. Now that jobs are even more scarce and heading south as o-care kicks in and the talk of increasing wages continues, your neighbors and maybe even you will find almost nothing in the way of good paying jobs. So,, they may not have needed the stores, but they did employ people…now poof-gone over night.

  • America No More

    Read the Obama prophecies, the Lord has warned several that America is about to go over the cliff. revelation12 dot ca

    • George Beerwood

      Your invisible playmate in the sky? Grow a brain, Dumbo

  • How Not To Play The Game

    The thing that most of the large retailers all have in common is that they all sell pure unadulterated crap. Many of us are sick of buying pure crap. So we don’t. Mom and Pop and the black market can fill in where these giant losers failed.

    • How Not To Play The Game

      Hey Sears, Craftsman tools helped forge and build America. Until, you started making them in China. Do any of you fat cats with corner high rise offices see the correlation? Now you are a has been operation. You get what you deserve.

      • willymae

        It is the American people who demanded lower prices. It is the American people who bought the cheaper throw away Asian products as opposed to the more expensive locally made products. The people chose price over quality. It was the American people who wanted a Doctors salary to work on an assembly line.
        This gave the government the go ahead to make it even harder to produce a product in the US by imposing new regulations, taxes and laws they knew would hurt American made companies and drive the imports in at a much faster pace.
        Would you have bought that $40.00 wrench over the $15.00 wrench even if it meant lesser performance and quality? Tell me yes and I will call BS.

        • How Not To Play The Game

          I buy snap on tools. I buy them once. Call your BS now.

          • willymae

            Sorry. Snap On is registered in the US, however many of their tools are made in the UK, Canada, and Asian markets.
            Check the labels- even those can be deceiving. “Made in” and “Assembled in”, are two different things as well.
            Besides- I take your word for it- not.

          • How Not To Play The Game

            What province in China are the UK and Canada In? Brush up on your remedial reading comprehension skills.

          • Donald Adkins

            So you, the 1 person who does, is usually surrounded by the 300 who buy cheap. America’s issues are because we’re taught to buy cheap shit, because it costs less. Smarten up, it’ll help a ton.

          • How Not To Play The Game

            Heed your own advice. You won’t come across resembling your own comment.

          • Donald Adkins

            LO. Nice attempt to sound smart on that one.

        • Bloodstock

          It was, it is a corrupted government that got elected through broken promises to the American people. The corrupted elected have not been held accountable often enough because the corrupted system is over seen by the corrupted system. The people were offered and accepted cheaper prices to account for their inflated dollars. Quit blaming it on the people who were betrayed.

          • How Not To Play The Game

            There will always be those that will blame the rape victim for being raped.

  • Spike

    I did not shop at some of those stores for certain reasons. Maybe they needed to take a good look at what they were doing wrong.

  • Gene Reed

    Hannity and Punjab were crowing that Louisiana’s unemployment rate was now only 4.5. I got a real belly laugh out of that one. Everyone I know is on food stamps.

    • 02144pomroy

      You racist. I suppose you hate ho mos too.

    • swampwiz

      I am a white college graduate Louisianian, and when I back there (I travel abroad a lot teaching English to support my traveling expenses), I always get on SNAP (i.e., food stamps).

  • Lynne

    How sad to hear this. All of those people that will now lose their jobs.
    More people on unemployment. After reading this I see I need to perhaps stop buying online to help keep jobs available.

    And pretty soon Walmart WILL be the only store. Please try and support good retailers. Local business.

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  • D. Koss Uber

    This is not surprising as things go. Americans don’t have much disposable income. Congress would rather do anything but pass jobs programs or tax cuts for the middle class. Some cheer as the lazy, welfare queens get their billions in food stamps revoked and then blame Obama when the grocery industry suffers. Some say that those lazy don’t-want-to-work unemployment recipients should not get the insurance extended and then blame Obama when retail store sales suffer. The list goes on and on and sadly the people of this country will suffer more and more as long as we have lawmakers and vocal constituents who hate Obama more than they love America.

    • How Not To Play The Game

      He was born and bred and placed into the position. The population does not possess the intellect to follow the dots and discern for themselves this simple truth. Nor to follow the rest of the dots. Also, our attention spans will not allow us to persevere following dots long enough to paint the picture that needs to be painted for the Ah Ha! moments to happen. But, we keep trying to get people to see. Don’t we?

      • Padraigin

        Well done. Called out as it is, How not to.

        Barry Obummer + Michael transgender Obummer (youtube (dot) com/watch?v=fVAXqKugXkg) + adopted children = disaster she’s a ‘coming, that foul wind from their plumbing the depths of depravity, hard to find some levity in the puppet master’s games, departments stores a closing with people on the streets with no name.

        • Jim

          Mental health care is available, dude.

          • Padraigin

            Who’s your daddy, Michael & Barry, Duuude.

            Naive ignorance is treatable – even if not by Barry’s “you can keep your doctor (just joking), you can keep your plan (just joking), no cost increases (just joking)” Obummerplan; however, willful stupidity deserves the pair of jokers you have as “queen & queen” in the big house up on yonder hill. Remember to stand in the sheep shearing line come erection time and cast that vote for changelings you can believe in, Jim Fish, Dude.

          • Jim

            They’ve got some really good drugs nowadays. There’s no reason to go through life like that.

          • Padraigin

            Welcome back Jim Fish. No need for you to pucker up those sweet lips to kiss the Obummerarsenocare plan to obtain your daily dose of drugs; just make use of your usual daily dose of stupid – side effects ignorance and sheoplelike tendencies, and all will be just peachy.

      • D. Koss Uber

        I am assuming your comment is about the closed caption text in my image and not my comment? What do you do when years later, after following dot after dot, all your suspicions, predictions, superstitions are left un-materialized? Do you remember what you said was wrong and acknowledge to yourself that you were incorrect or do you forget your were wrong, dust those statements under the rug, and move on to the next convenient dot-de-jour? Just curious.

        • How Not To Play The Game

          I commented about the closed caption. I would suggest that you exhale.

      • highpriestess

        actually he was created in a Kenyan lab, a human mother and a father who was of the simian kind…a plan to create a super race of gian humanzees was underway, and Obummer along with oliver were the results..

  • rwbenjamin

    This is the same crap that has happened since the old western days…. towns, entire cities flourish then die… stores open, stores close… nothing new here folks, just a lame attempt at a newsworthy (lol) gabbing headline… When I was a kid, most of them businesses are now gone, but the again so are the people. Today there are different stores and mostly different people… nothing newsworthy here folks.. I mean I am not trying to flame, it’s just the facts, at least it’s like that here in Pennsylvania, in fact things seem to be flourishing. Stores that people don’t need, of course they fail.

    • willymae

      Only this time, we have the government laws and regulations to prevent getting ahead. Show any prosperity and you can be assured you will met with a law or regulation obstacle.

  • Mike-Sandi Bodway

    And CNN will report all is well under this pos

    • Bob Porter

      CNN…..Nothing but spin.

  • Mike-Sandi Bodway

    MSNBC will tell its all the republicans fault.

  • Mike-Sandi Bodway

    CBS will give the whole story 2 minutes this year

  • Mike-Sandi Bodway

    NBC wont report at all

  • Raymond Dillon

    Actually America has long been destroyed since 1913 when Woodrow Wilson gave the US economy to a bunch of foreign banksters known as “federal reserve” it’s been down hill since then , we are just witnessing the tail end of it.
    Stock up on , food , water, seeds, firearms , ammunition and medicine, start a garden now, it’s only going to get worse.

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  • hvaiallverden


    The chain reaction have just started, and will only continue, in an downward spiral.
    More people layed of means lesser purchased gods and comers will sluvly sufforcate by an continuing downward move, when this conditions will accumulate, and so on.
    This is doe to the simple fact that the cash flow in the comunity is been stragnled and is down to pure basics.
    They cant aford to shopp.

    And their solutions arent making anything better, and to squise the salarys downward, will eventually just make things wurse, and dont forgett, this is an slow and incremental process, and ting do take time before they manifest at sutch levels that its obvious, but then again, the power of despetion/ilutions will be pimped even harder, with more sentral controll, by the very same people that brought us to this f…. mess.
    Some of the wurst ilutions are the one about Rich people, they need us, we that byes their products, if sucsessfull the person will be stinking rich witch I havent the slightest problem with, but they arent vitale to the society at all, in no other respect as an fabric owner.
    Thats it.
    Henry Ford knew it, and it made him MORE prosperous, becose the fact is that its the worker that made Him rich and He knew it.

    The problem is meer perseption of realitys, instead of the ballanced news from the markeds we gett ilutions, where everything is rigged.
    Instead of the ONE way street, of erseptions that sollely takes care of and is regulated around a litle click of powerfull corps, aka the Banks and the Bigg Millitary ind. complex, witch is basicly the last straw of wurk left, to be a soldier to simply make your family survive.

    The worlds heads in for an massive wall.
    The f….ups are so thruoutly and fundamental, the monetary system is simply imploding, where as the rate of this implosion ranges from land to land, as for China, they all have their bobbles popping up, and still, not even when the collaps is obvious, is the goverments doing anything.
    The fatcs are so f…. obvious, that it all leads to just one issue, is it delibirate or not.
    I think this was planed a long time ago, the tool, was america.
    As the saying goes, once you are oused up and robbed empty, you will just blow of like a dust in the wind, a lost paradise.

    What a downfall.

    Their only solution so far is War.
    And WW3 is coming, you bett, they dont have any other options, to be here when the monetary system collapes or to make the world go down with them, I belive they are fundamentaly insane.

    But then again, Im just an “conspiracy nutt”.


    • rawhunger .

      “But then again, Im just an ‘conspiracy nutt'”

      And heavy on the nut….

  • TM Gerber

    Nothing to do with Obama as much as I despise him. It has to do with Amazon, eBay, etc…. Why go to staples when you can get the item shipped free for half the cost? Kmart has been dead for 15 years, as has Sbarro and Quiznos. Ebooks replaced b&n. Everything you find at radio shack is at Walmart for much cheaper. Americans aren’t spending less… We’re spending less on brick & mortar.

  • Tempus Fugit

    ….the real culprit in these store closings is changing demographics! The middle-class is dying off (just look at the number of school and church closings -especially in Canada) and they shop less and less (especially as they age) in these “middle class” stores! In Canada, even Target Stores (which arrived in 2013 and opened 134 stores coast-to-coast) is having a very, very difficult time to make a profit in this country!
    Another thought de jour, the car and beach culture of the 1960’s is never coming back (when Government Motors ruled the roost with 56% of the Amerikan car market) and that is because of the low birth rate in the old Land of the Free and Home of the Brave! Now even the schools in North America are having a difficult time competing for students! Glad I am elderly person from the Led Zeppelin era- I wouldn’t want to be yound in this society!

    • BillRind

      no, this is strictly from obama the marxist and his marxist Democratic party that have done this to the U.S., but he did have help of the Rinos Republicans. they sold the U.S. out and the American peoples jobs to china, Mexico and other third world nations. the main culprits off this are Bush Sr., Clinton, Bush Jr. and the piece of dog poop Obama.
      Remember: Marxism=Leninism=Communism=fascism=Nazism=Socialism=The Democratic Party

      • Jim

        Suck a little harder on that Koch, why don’t you?

        • Bob Porter

          Truth hurt Jimmy?

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  • jeffy12166

    Good, this is what happens when crap like NAFTA gets passed and the jobs move over seas. No sympathy here for the companies.

  • Jay_Sherman

    While of course it is true that the economy is terrible; it is also true that a lot of these closings have more to do with past bad business decisions. Example: Staples opened a store in a town of 12K people in the rural area in which I live. Funny, I’m a high-school drop-out, but I seem to know (contrary to all the MBAs at Staples) that a town of 12K hicks/farmers/welfare recipients can not support a Staples! To make matters worse, the Staples location in question only carries a limited selection- so if you do need something from that store, chances are that they won’t have it, and you’ll have to go elsewhere or get it online (As was the case when I bought the very computer I’m currently posting from, from Staples). So they have an office-supply store in Bumpkinsville, which is supposed to be profitable by selling paperclips; Post-It notes and by having UPS pick-up? Uh…yeah. Might want to rethink that one, Staples. Or, for another example: Back when I lived on Long Island, it was getting so that there was a Home Depot on every corner! Many were literally within walking distance of each other!- and this, in one of the most expewnsive real estate markets and heavily-taxed markets in the country! (A lot of them have already been shuttered). This vast incompetence and insanity, is only compounding an already bad situation- in a time when even competent; innovative and efficient businesses are struggling to survive.

    • Bloodstock

      For sure I have to agree with this poster credit to jeffy12166 as well. Too many stores for some of these chains. Their CEOs and Board of Directors always optimistic with no real insight for the reality of the law of supply and demand. No clue what NAFTA would cause as fall out and other such American job destroying legislation would really accomplish. The globalists care nothing of any one country including whatever birth home they had. Low life traitorous jerks come to mind. Although the big boys got their money and got out or stayed for more, when the SHTF they’ll all turn on each other as the truth will prevail. We’re already seeing some of it.

  • J Blair

    many of these chains are useless and or irrelevant or toxic. Junk food restaurants, overpriced crap clothes made by slaves in China, full retail priced books when you can get many of them used for .99 on Amazon, etc – I say good riddance to most of them. And they’re a blight on the landscape and culture. The ideal outcome would be the death of retail chains replaced by online business and small local businesses back filling the need for local products.

    • Jay_Sherman

      Well-said! Also, while a lot of these articles are tryin to make it sound like these companies are in fiscal trouble…I think the reality is that they are just seeing that many of their B&M stores are under-performing; while their web sales are not only increasing, but are also much more profitable. I’d love to see a return to small mom & pop stores…..and while such might not be feasible to compete with things bought online; I think they can be viable for some things; and they could even compete with Walmart…as I personally have started shopping at local supermarkets, even if it costs a little more. jut for the convenience (they keep the shelves well-stocked, unlike Walmart) and the atmosphere (I’m tired of 400 lb welfare queens with 8 kids, driving around Walmart in motorized shopping carts!). So a paradigm shift is possible….but unfortunately, the fascist/socialist regime will kill any chances of that through taxation and regulation…..

  • Rick Bauer

    What recovery?

  • gato felix

    The really sad thing is that this is by design! The powers that be, are in fact turning this once proud nation into a third world country slowly but surely

    • Caleb Pizza

      I have to agree. But since no one wants to take the country back…We are stuck with what we have…So until your ready to mount a resistance then No need in complaining.

      • gato felix

        @Caleb no need for resistance, it’s going to emplode in on it’s self, all ponzi schemes eventually do!!! BTW, thank for your inpute, peace!!!

      • Bob Porter

        5-16-2014……..The American Spring.

  • Rjohnsonfamily

    Retailers used to expand because they saw unmet demand and they invested in stores and inventory to meet that demand. But for the last 30 years, retail has been expanding because local governments have looked upon retailers as tax cows. State and local governments have come up with schemes to subsidize or otherwise give favors to developers in order to ‘encourage’ the building of malls and strip centers. Subsidized malls shifted onto the taxpayers some of the expenses that normally would have been offset by rents, thus making the new malls financially attractive to retailers. All was good as long as consumers will willing to buy more and more stuff. But when the personal debt load became too heavy (and consumers have been trying to shed some of their debt every since 2008) the number of shoppers dropped, as did the amount they were willing to spend. The over-expanded malls and their tenants ran into significant financial troubles. The only choice is to cut back the amount of retail space to bring it into line with actual consumer demand.
    The trouble started with subsidizing retail expansion. The solution is to shrink retail.

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  • Badger Badgerism


  • farang

    The sad fact will remain: unregulated predatory capitalism (did all here actually read and comprehend the gist of the article?), as in Hedge Funds like Cerberus (The dog that guards the gates of Hell) will actually CLOSE profitable locations that conflict with owning both Albertson’s and Safeway (Von’s), costing many jobs and making neighborhoods have to travel farther to reach an outlet, just because they need to show “profit-growth” each economic quarter.

    I know, last year in December they closed a Von’s in Santa Maria, Ca. that was always packed with long check out lines. A friendly, neighborhood store where the employees always had a smile and knew your name (I was only there 6 months). Does that make any sense?? Only if you consider what I just wrote above.

    This is not the ideal “job-creating” capitalism we grew up with: it is shark eating smaller shark….until there are no jobs left for anyone to shop at the Last Shark Standing Outlet. We actually had bigger, better job growth when we had TARIFFS on IMPORTED LUXURY GOODS and a 90% top income tax rate. (Eisenhower (R) the last president with that rate).

    How so? Because the more a billionaire invested in his businesses, (R&D, new manufacturing plants/equipment, which spurs more vendors making machines…etc,), the less he paid in taxes on profit.

    Now, these hedge Funds buying up everything to squeeze the last dime of worth out of it? They simply do not, cannot look long term, as they get TAXED at a rate of only 15%, as in FIFTEEN PERCENT of their income while the check-out clerk at Safeway making 1/300 of a Hedge Fund manager’s salary/bonuses/stock options, pays 34%. Financial rape.

    America can topple and fall: they could care less: they’ll just get up and move their parasitic bodies to a new host.

    • Bob Porter

      Agree. 5-16-2014.

    • swampwiz

      I would like to see the 90% income tax rate again.

  • h5mind

    Publicly-traded corporations have been around for more than a century in the US, but it is only in the last 25 years or so they have graduated to true robber baron status. They operate now primarily as a wealth transfer mechanism from the poor and middle class to a chosen few at the top. Witness the outsourcing and subsequent “cheapification” of virtually all goods and most services, requiring us to pay increasingly more for less. Often we’re forced to pay while receiving nothing of value in return (insert your favorite kleptocrat boondoggle here). While the wealthy enjoy an economy more akin a Sims video game with all cheats activated, the 99% barely scrape by on part-time, subsistence-level jobs at the same retailers now closing stores from coast to coast. The sad fact is poor people don’t buy much stuff.
    Corporate slash-and-burn tactics have gutted quality, value, and stability for short-term revenue goals. They have left nothing but scorched earth and debt in their passing. To lay the blame on the consumer for “demanding” cheaper products is a non-starter. How many of you voted to bail out the banks and Wall Street? Didn’t 99% of Americans oppose TARP? When did we “demand” that our American companies offshore 50,000 factories to the Far East, leaving us with no wealth-producing options but market speculation and war?
    Historically, 70% of American jobs are produced via small and family-owned businesses, but legislation and taxes favor only the “too-big-to-fails” while crushing the true job producers under taxes and red tape. It’s literally easier to start a new business in Communist China than in the US. Until that changes, nothing else will.

  • FFighters of America

    we say this is happening a lot more than is being reported for sure.

  • Paul Simanauskas

    I agree with the overall sentiment of the article, but I will say this; every Radio Shack I’ve been to in the last few years has sucked. Their customer service has been awful, their prices are too high, and their selection is pitiful. They would be shuttering in a booming economy because they’re dinosaurs. Sad to see places like Barnes and Noble shutter; it’ll be harder and harder to find places to buy books, and we need more people reading in society. Red Lobster; they’re hit or miss. Little bit pricey for what they offer, but if those cheddar biscuits are gone… But yeah, under the Obamaconomy, I’ve seen entire strip malls become vacant, restaurants and business dying all around. “If you like your business, you can keep you business.”

  • telemanque

    The nation is over.

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  • Jim Gilhooly

    with out Jobs…..we are history……and this guy is not about Jobs

  • Bob Porter

    In Obama’s first two years he had both the Congress and the Senate to work with and design laws to get this economy on track…..instead he chose a grand wealth redistribution plan called Obamacare. Then rammed it down our throats. 5-16-14

  • Bob Porter

    What grinds my gears the most is everytime I turn on the tv and see reporters telling us how the economy is improving, unemployment is down, happy days are here agin, etc.etc. We all know it is not true but they continue to spin it. In my view the recession never ended it just improved slighlty.

  • Bob Porter

    After reading the comments I look forward to seeing you all in D.C. 5-16-2014.

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  • MikeParent

    Walmart is opening stores. They will be the unofficial. “Company store” of the USA

    • swampwiz

      I think Amazon with their warehouses in every metro area and drone delivery helicopters will give Walmart a run for its money.

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  • N Citizen

    What a bunch of BS as shown in the article. The headline was 25 more chains closing stores, and the first paragraph of the article changes the number to 16. But the article is actually quoting closures from 2002-2004 and stores like Staples and Office Depot are increasing their market share through online marketing/sales. I know, I can’t get rid of their junk emails fast enough because my boss made the mistake of ordering AN item from each last year. They do so much business that neither is able to maintain the deliver within 24 hours status they had when they had more drivers/trucks then orders. Albertsons pulled out of 25 markets in 2002 (long before the Obama administration) but those are reported as happening NOW. At least if you’re going to lie make sure the lies can’t be fact checked!!

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  • Thomas Jaszewski

    So long to the junk food restaurant chains. That’s good news for health insurance rates. No losses of meaningful employment there. Companies go under with poor management. But the Obama was responsible for flight 370 too, right?

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  • ksec

    Bush gave us this trainwreck.

  • Duane Harter jr

    Hey Rocket scientists. Internet shopping has done the retail industry in, not Obama!!!!! For what Obama gets blamed for, you Christians should be in fear. The guy must be god

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  • Robert Smith

    Amazon is looking to increase sales from $100 billion to $500 billion in next 10 years, the percent of sales by on-line businesses is increasing. Also, the percent of sales by big, cheap brick n mortar stores (e.g., Costco, Sam’s, Wal-Mart)… are increasing much faster than inflation. Corporations have been on a roll, trying to maintain double-digit returns on investment as the rate of inflation remains low, this has led them to make increasingly foolish expansion. As individuals’ incomes have remained stagnant, above inflation, these past 30 years, true costs have not been reflected in cost of living figures provided by the government, as it cannot pay the additional $hundreds of billions in debt interest payments. Individuals, increasingly constrained fiscally, are ‘forced’ to purchase the least expensive products, no longer having the luxury they had in the 1970’s to buy the slightly more expensive American-made product, they now must purchase cheap, throw-away products made in [China …] planned to be obsolete in a short time. Frankly, I’m shocked at a few of the comments below, not based on reality, blaming Obama, Bush, Clinton, Bush-41, Reagan, communism, capitalism, unions, greed, the media, religion. This is, indeed, indicative of a much larger problem with the current US economy and government, and rational actions must be taken to re-inject success in the US society.

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  • SantosGarcia

    The NWO Globalist Agenda marches on… with the ‘Pied Piper of Sham’ leading from behind our one great Constitutional Republic. What lies ahead? It will take three blogposts to understand the problem and YHVH GOD’s solution: and… as well as ‘The Answer':

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  • Juan Reynoso

    The truth is the Washington become the capital of the U.S. political whores, they sold their dignity and moral principles to the elite world predator corporatism. The Neocon Globalist run our country and their agenda is the making of global slavery. The 21st century world colonization and control is near.

  • Mick

    Any and all news which contradicts the “recovery” propaganda will be diluted, altered, or covered up.
    For instance, retail stores closing is blamed on people shopping online, yet online sales are down too, about the exact same % as retail stores.

    You simply can’t believe anything you hear or read in the media or from govts anymore, all lies.

  • FranciscoCanales

    By: Juan Reynoso, WTP Activist –

    must realize that self-scrutiny is not treason. Self-examination is not

    We seek the truth and let the people
    know. An informed
    citizenry is vital for the preservation of our democracy. Truth and knowledge diffused
    among the people are necessary for the preservation of our Democracy, rights,
    freedom and liberties.

    Trade the killer of American’s jobs and disposable income no jobs and lower
    wages is killing the US economic.

    In November 18th, 1993, the greed of the NEOCON
    colonizers blinds them from the socio economic impact of NAFTA. The House
    Passes NAFTA, 234-200. Bill Clinton promoted the legislation and Vote as a
    Decision to create jobs for Americans. The strongest support in the House came
    from Republicans, who cast 132 votes for the trade plan and 43 against it.
    Among Democrats, 102 voted for the agreement and 156 opposed it. The one
    independent in Congress voted against the plan. NAFTA has done way too much
    damage, and we need to repeal it. NAFTA and all of the free trade agreements
    has cost millions of Americans jobs, eroded our industrial base and decimated
    towns and communities.

    Decades of failed “free trade” policies have failed our
    nation. 22 years of trade deficits and millions of jobs lost to foreign
    countries; since Bill Clinton all the presidents that followed Clinton push for
    free trade; President George W Bush defends his free-trade agenda in his May 7,
    2001, speech. He declared that Free Trade creates jobs for the unemployed. Such
    claims are nothing but lies and deception and like Bush, Obama is making the
    same promise and continue pushing for more Free Trade. The TPP look like prior
    “free trade agreements” while negotiations are not yet complete, the publicly and
    available information is of great concern for the American workers; it looks
    like once again, predator corporatism are having too much influence in the
    process for their benefit and the continue erosion of our socio economic of our

    We must focus on the voting by congress and the senate on
    this issue of Free Trade and get them out of the government and ban them from
    the political arena. Free Trade will destroy our country and our future socio
    and economic welfare, we must demand, a withdraw of all free trade and re-store
    a tariff system in international trade.

    NAFTA has done way too much damage, and we need to repeal
    it. Enough is enough – we need to focus
    on creating jobs right here in the United States, not in foreign countries.

    This is the truth about our Trade

    propaganda use to promote the killer of American jobs.

    The TPP is a free trade Agreement that
    deceive the people.

    The U.S Balance of Trade is the worst
    in the World. -360.7 Billions

    The facts about economic inequality.

    Free Trade the agenda for

    U.S. Free Trade Agreements

    The Trans Pacific Partnership Free

    Foreign Trade

    Trade Deficit with China.

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