Incomplete list of U.S. retail/banking/service sector job loss announcements and shutdowns made or announced in August 2017:
Hurricane Harvey shutdown 31% of fuel refineries in the United States, retail prices for fuel in the eastern half of the U.S. expected to skyrocket. Refined fuel originally destined for Europe is being diverted to the east coast of the U.S.
RTTNews: U.S. New Home Sales Unexpectedly Plunge 9.4% In July
Pasadena Star-News: Just wait; it’s going to get worse, said Victor Sahn, a bankruptcy attorney…..“I think we’ll continue to see extreme pressure and more failures of second- and third-tier malls. These vacancies are setting the stage for a possible real estate industry correction or crash. If there is a downturn … I really think it will be Armageddon.”
PBS Newshour: Can online shopping absorb traditional retail workers?
Moody’s Investor Service revealed what I’ve been saying for years; internet retail is highly overrated. In fact, so called retail giant Amazon is not a giant at all, accounting for only 10% of all U.S. retail sales! Walmart and Costco are still the retail kings.
Please note the number of mom-n-pop brick-n-mortar shops that announced their shutdowns on social media.
Alaska: PenAir now chapter 11 bankrupt busted, then suddenly canceled all Pacific Northwest flights.
California: According to Statista The Golden State leads the country in most bankruptcy filings, going by court records from June 2016 to June 2017. In Tehachapi, hardware store Henry’s Home for Less shutting down after 25 years so the owner can work for the Together Men’s Ministry. Electronics retailer Best Buy shutting down its store in Auburn, in time for Halloween. In Reseda, after 57 years local arts supporter Continental Art Supplies shutdown so the owner can retire. Meridian Sports Clubs California issued a shutdown WARN for its Los Angeles location, 65 jobs gone by the end of September. In Riverbank, after 70 years men’s clothier Landon’s shutdown so the owner could return to farming before officially retiring. RMR Financial shutting down its Los Gatos office in time for Halloween. FedEx Cross Border halting ops in Carson, by Halloween. What automotive industry recovery? Euromotors Concord-Audi shutting down its operations in Concord,83 jobs gone by Halloween.
Colorado: In Sterling, Famous Footwear shutting down its store in the High Plains Shopping Center, by mid-September.
Connecticut: Too Big to Jail British empire based Royal Bank of Scotland (RBS) issued yet another layoff WARN, this time ten people in Stamford unemployed in time for Halloween. In Enfield, garden center L.R. Hawthorne and Son (Hawthorne’s Agway) announced on Facebook “Unfortunately it’s not good news. I’m sorry to say that after 50 plus years Hawthorne’s Agway will be closing its doors for good at the end of August.” Local news media revealed the garden center was sold to a corporation based in Massachusetts. In Wilton, after 29 years DeLuca Hardware shutdown: “We had wished someone else would’ve taken it over. It didn’t work out that way, but that’s OK, and now we’re going to have a close out.”-Juliano DeLuca
Florida: Sunrise based smelly retailer Perfumania went chapter 11 bankrupt and is shutting down 64 stores. Ritz Ybor chapter 7 bankrupt dead, the live music venue now has a new owner.
Hawaii: What automotive industry recovery? After 74 years auto-shop Saiki Motors shutdown, the owner saying he wants to retire while he still can: “Since I can still walk and all that, I want to travel.”-Albert Saiki
Chubbuck, Idaho, Walmart blames skyrocketing crime for halting 24 hours operations!
Idaho: The Walmart in Chubbuck has joined other Walmarts around the U.S. in ceasing its 24 hours of being open to the public. This comes after months of using contracted security guards to try and stop skyrocketing shoplifting. They were able to stop the theft of about $20-thousand USD worth of merchandise in just one week. But even recent transplant to Chubbuck, Nancy Hurley, says crime has skyrocketed in the tiny (about 14-thousand people according to recent Census Bureau data, down from 18-thousand in late 1990s) east Idaho city: “When we first moved here about 12 years ago, there seemed to be very little crime, but now it’s really picked up with the drugs and the shoplifting and stuff, so it is concerning.”-interviewed by KPVI
Related: CHUBBUCK WALMART QUIETLY SETTLES DISCRIMINATION LAWSUITS! MORMON MANAGERS ACCUSED OF EMPLOYING WHIPPING BOYS?
Bye bye, Pocatello Meineke!
Blind Bat News reader ‘Catherine’ discovered the less than three years old Meineke auto repair shop, near the Westwood Mall in Pocatello, secretly shutdown. Just ten months ago a local news paper declared the Meineke repair shop “ranked among the best performing franchises in the nation” with the “seventh best net sales-volume in the nation.” ‘Catherine’ reported there was a note taped to the door apologizing for the sudden shutdown, but no reason for it was given. In the sparsely populated town of Oldtown, after 23 years Ben Franklin Variety (formerly known as Sprouse-Reitz prior to the 1990s) shutdown. The now former store manager told local news media their busiest day was the last day of business. Clothier Filson issued a shutdown WARN for its store in Post Falls, 45 jobs gone by the end of October.
Illinois: Hard Rock Hotel Chicago issued a shutdown WARN, 184 jobs gone by Thanksgiving! Northbrook based Allstate suddenly laid off 5-hundred claims adjusters across the U.S. as part of a new plan to basically let customers ‘do-it-themselves’! Iconic Oak Brooke based Ace Hardware has been shutting down brick-n-mortar stores due to lack of sales, but for its second quarter of 2017 Ace Hardware reported an amazing 61% increase in online sales. But in seeming contradiction to its brick-n-mortar shutdowns, Ace Hardware also admitted that 93% of online orders are actually picked up at one of its brick-n-mortar stores! In Monticello, after 21 years Pearls and More Jewelry announced on Facebook it is shutting down, partly due to “…the financial situation.” What automotive industry recovery? Auto parts shop Carquest shutting down its 40 years old Joilet location. Local news media reported the store was a privately owned auto parts store until 2001 when it was taken over by Carquest, then in 2013 Advance Auto Parts took over the Carquest-General Parts corporation. In Wheaton, after 47 years Tom’s Service Station shutdown, the owner sold out to a property developer.
Indiana: In Muncie, after 31 years The Towne Boutique suddenly shutdown due to the poor health of the owner.
Iowa: What housing market recovery? California based Too BIg to Jail Wells Fargo continues killing jobs, this time 40 Home Mortgage employees in Des Moines laid off. JCPenney issued a shutdown WARN for its Fort Dodge store, 52 jobs gone in time for Halloween.
Kansas: In Salina, Dillard’s shutting down its Central Mall store in time for Xmas blaming “Performance….as well as many other things.”
Kentucky: In Louisville, after 65 years J Carlton Knotts Shoes announced on Facebook that “J Carlton Knotts Shoes will be closing at the end of August.”
Louisiana: In Lafayette, after 58 years Cal’s Western Store shutdown.
Maryland: What housing market recovery? First Potomac Realty Trust issued a layoff WARN, 72 jobs gone by October as a result of being taken over by Government Properties Income Trust.
Massachusetts: After almost five decades Newton Yellow Cab shutdown. Ignorant local news media tried to blame Uber and social media, however, employees said local government regulations are what finally killed off the taxi company.
Michigan: In Cheboygan, after 30 years women’s clothier Billies shutdown with the owner saying “For 15 years I didn’t have a day off, I didn’t have a vacation.” In Lansing, after 77 years Hazen Lumber shutdown. In Bridgeport, after 23 years hobby shop Junction Valley Railroad announced on Facebook “Due to declining sales, we are being forced to close the Hobby Shop Doors!
Our final day open will be October 31, 2017!”
Minnesota: In Saint Paul, after more than five decades the Midway Pro Bowl shutting down due to the lease being ended early, in fact all the businesses in the Midway shopping center shutting down and being replaced by a 20-thousand seat soccer (football) stadium!
Missouri: In Columbia, after 21 years Tucker’s Fine Jewelry shutting down due to the owner not wanting to renew the lease.
Nebraska: In Kearney, after 22 years Wilke True Value hardware shutting down when the inventory is gone.
Nevada: Goodwill of Southern Nevada now chapter 11 bankrupt busted.
New Hampshire: ‘Christian’ founded Sam’s Club suddenly shutdown its membership warehouse store in Manchester, 130 jobs gone! Local news media reported it was a shock to employees and dues paying customers.
New Jersey: Command Security eliminated 113 jobs!
New York: In Merchanicville, after 70 years DiSiena Furniture shutting down in time for the U.S. Thanksgiving holiday season, due to “personal reasons”. In East Rochester, after 50 years video store Hyatt’s shutdown. What automotive industry recovery? Arroway Chevrolet shutting down its Mount Kisco dealership, 80 jobs gone by the U.S. holiday of Thanksgiving. At JFK Airport, TPS Parking Management-The Parking Spot shutting down, 71 jobs gone between November 2017 and January 2018. Elitist River Club of New York issued a shutdown WARN, 60 jobs gone in time for Thanksgiving. Lion Re:Sources eliminating 154 jobs by Xmas!
North Carolina: Branch Banking And Trust (BB&T) shutting down its office in Fallston, in time for Xmas. Safety Express Courier Service went chapter 7 bankrupt. Mooresville based Lowe’s suddenly announced it will eliminate all in-house delivery driver jobs across the U.S. as part of a plan to outsource jobs! Since October 2016, Lowe’s has already outsourced more than 3-thousand-1-hundred jobs!
Ohio: Cincinnati based Macy’s hired a former ebay executive and ramped up job killing, this time 1-hundred merchandising employees getting the axe! In January, Macy’s announced it was skyrocketing layoffs to 10-thousand, about 6-thousand more than what was announced in 2016! Direct marketing company Suarez Corporation Industries now chapter 11 bankrupt busted blaming the 2008 recession, and then in 2014 the owner got caught breaking a federal law (witness tampering). Since then the owner spent money trying to appeal the conviction and now realizes there is not enough money to cover “…costs to do….direct mail and online advertisements.” More proof the ‘Vinyl Come-Back’ is a lie, in Athens, after 40 years Haffa’s Records shutting down in September, blaming “the way people absorb media these days”.
Pennsylvania: In State College, after 41 years Kranich’s Jewelers shutting down when the inventory is gone.
Tennessee: In Morristown, after 53 years clothier Kathryn’s shutdown, local news media pointed out that even back in the 1960s-70s people thought women’s dresses were too expensive, at only $17.99 full retail!
Texas: Preliminary estimates say Hurricane Harvey wiped out at least 40-thousand homes, and that’s just in the city of Houston. Many homeowners did not live in flood zones and so did not have flood insurance. Mortgage companies are now threatened as many homeowners who don’t have flood insurance will stop making payments on their home loans.
Utah: In Provo, after 53 years laundromat Wash Hut shutdown, sold-off to a property developer.
Vermont: In Rutland, after only two years at its Diamond Run Mall location LaFlamme’s Furniture Mall shutdown due to high operating costs. Local news media said the furniture store moved into a vacated JCPenney space in 2015. In Burlington, after four years clothier Spellbound forced to shutdown by rent of more than $6-thousand-5-hundred per month, plus insurance and utilities of about $1-thousand-5-hundred per month! Also in Burlington, clothiers The North Face, The Fitting Curve and Lole shutdown, with similar complaints! Local news media say local administrators blame the high cost of rent and insurance on skyrocketing crime. A local property manager told local news media “Personally I’ve never seen so many spaces open.”
Virginia: In White Hall, after 131 years Wyant’s Store shutdown. In Falls Church, after only two years The Gun Dude shutdown, the announcement was made on its website. In Powhatan, after 20 years successful frame shop Complete Picture shutdown, the owner explaining “I want to concentrate on my art.”
Washington: Too Big to Jail California based Wells Fargo issued a shutdown WARN for its Vancouver ops, 72 jobs gone in October. Adult’ chain-store Peekay now chapter 11 bankrupt busted, blamed on massive debts incurred while buying-out competitors and on becoming a publicly traded company in 2015. In Spokane, after 20 years Replay Music shutdown, the owner saying “…the most challenging was when the economy took a dip in ’08 and it never really seemed to recover…” After 23 years Vintage Rabbit Antique Mall forced to shutdown due to a city of Spokane road construction project: “I really feel like the city killed my business.”-Jan Richart
Wisconsin: In Wisconsin Dells, after 23 years All-Time Sports shutdown with the building sold to another local business, so the owners can retire. In Madison, game/toy store Woops! shutting down in September, the owner says she is struggling to balance family and work. In Ashland, after more than 40 years the Elle Stevens Hallmark Store shutdown.
U.S. RETAIL/BANKING/SERVICE SECTOR COLLAPSE, JULY 2017: “SHIT’S BLEAK….” “I’M JUST GETTING OUT OF THIS BEFORE I’M FORCED OUT!”
SEARS KMART DEATH SPIRAL, August 2017: “A SWEEPING REDEVELOPMENT”
U.S. INDUSTRIAL/MINING/LOGISTICS LAYOFFS, August 2017: “GUT-WRENCHING DECISIONS”
Dumbing Down the U.S.A., August 2017: “WE MOVED QUICKLY AND QUIETLY.”
U.S. HI-TECH/COMMUNICATIONS BREAKDOWN, August 2017: “WE HAVE TOO MANY PEOPLE”
U.S. government shenanigans, August 2017: “EFFECTIVE IMMEDIATELY”
U.S. food crisis, August 2017: “HISTORIC LACK OF PATRONAGE”
ObamaCare ACA death spiral, August 2017: “HAS OUTLIVED ITS USEFUL LIFE”