Tiffany Hsu reports for The Los Angeles Times, April 10, 2014, that the North Carolina discount retail chain Family Dollar Stores Inc. said it would close 370 under-performing stores later this year and slash prices on 1,000 products after its profit for the second quarter plunged more than 30%.
Family Dollar has 8,100 stores across the country.
Tiffany Hsu reports for L.A. Times, April 11, 2014, that Coldwater Creek Inc., a women’s wear retailer with hundreds of stores nationwide, has filed for Chapter 11 in federal bankruptcy court in Delaware, listing $278.5 million in assets and $361.3 million in debt.
The company will start liquidating the business with deep discounts pegged to Mother’s Day.
The Sandpoint, Idaho, company, which started with a catalog model in 1984, has 334 retail stores, 31 outlet locations and seven day spas. California has 27 Coldwater Creek stores — more than any other state except Texas.
Coldwater Creek has 339 employees in its corporate headquarters and more than 5,500 other workers throughout the system.
H/t FOTM’s CSM
- “16 major retail chains closing stores across America,” April 5, 2014.
- “America’s retailers are in trouble. JCPenney, Sears in death spiral,” Jan. 22, 2014.
- “The death of U.S. manufacturing jobs – in one graph,” Jan. 16, 2014.
- “Majority of Americans unprepared if economy collapses,” April 11, 2014.
Dr. Eowyn is the Editor of Fellowship of the Minds.