Tuesday, December 16, 2014

Decelerating News

All 198 Alco Stores are shutting down. The company was founded 113 years ago and had evolved into a discount retailer that served smaller communities. In recent years, it had faced increasing competition from other discount retailers, such as dollar stores...Delia’s Inc. plans to liquidate operations as it prepares to file Chapter 11 bankruptcy protection. Delia’s will seek the court’s approval to close all existing stores and distribution centers and to conduct store closing and going out of business sales, with the sales starting as early as this month...Deb Stores Holding LLC, owner of Deb Shops, has filed for Chapter 11 bankruptcy protection, with plans to close stores and sell inventory if it can’t find a buyer for the business. The retailer operates 295 stores...Sears disclosed that it plans to close a total of 235 underperforming stores in 2014, nearly double the projection of 130 made in August. Sears said last month it might sell up to 300 stores to a real estate investment trust (REIT), which would then lease the properties back to Sears. If completed, the move would leave it with 400 to 500 owned stores and 1,300 to 1,400 leased stores...Aeropostale will close 75 stores in the fourth quarter, which will take the company's total US and Canada closures to about 120 stores in 2014, well ahead of its guidance of 40 to 50 closures this year. It is also considering closing another 50 to 75 Aeropostale stores in 2015, as well as 126 mall-based P.S. from Aeropostale stores by the end of January...Troubles keep mounting for teen retailer Wet Seal Inc., which reported a wider loss for the third quarter amid lower revenues.  Wet Seal, which previously reported it has engaged outside advisors to seek strategic alternatives, indicated it may consider filing for bankruptcy to recapitalize or restructure its debt and obligations. In addition, the company plans to close 60 stores in the fourth quarter of fiscal 2014 as lease term expires. As of November 1, the company operated 528 stores.

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