Another retailer files for bankruptcy.....Lord & Taylor, the oldest U.S. department store, known for its upscale fashions and extravagant holiday window displays, sought bankruptcy protection in Richmond yesterday, Bloomberg reported.

The company was founded in Manhattan by two English immigrants in 1826.

Life due to the pandemic is going to change in so so many ways. NORMAL will cease to exist for many years.



Edited 1 time(s). Last edit at 08/03/2020 06:02AM by samintx.

Amazon, and we’ll be stuck wearing brown jumpsuits, partly because it is the future, and partly because every fashion store is going out of business.

K. Kringle facing hard times

Amazon, Target and Walmart.

Everything else is at risk.

I think small local shops will return to glory - I certainly hope that happens. I'd much rather pay a little more, buy quality and support Main Street than support a bunch of sad mall stores filled with cheap junk.

As for high-end retailers like Lord and Taylor or Neiman Marcus, they were in trouble long before the pandemic, this is just the nail in the coffin.

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Lemon Drop
As for high-end retailers like Lord and Taylor or Neiman Marcus, they were in trouble long before the pandemic, this is just the nail in the coffin.

Yep.

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I think small local shops will return to glory

I have strong doubts about that happening. Small shop owners are locked out of many distribution channels for products to sell, and those they can access are at significantly higher wholesale prices. They also don't have the negotiating position on getting favorable rents in many cases.

I hope I am wrong, but I suspect except for a few small shops coming back it will not be a widespread phenomenon.

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JoeH

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I think small local shops will return to glory

I have strong doubts about that happening. Small shop owners are locked out of many distribution channels for products to sell, and those they can access are at significantly higher wholesale prices. They also don't have the negotiating position on getting favorable rents in many cases.

I hope I am wrong, but I suspect except for a few small shops coming back it will not be a widespread phenomenon.

Just basing it on what I see happening in the medium sized city that I live in. I don't want products that are widely distributed and frankly that's not what most successful small shops sell. There's a woman's clothing boutique in my town that sells things made by female American designers with a focus on women of color. Highly successful; not cheap but affordable to many. There's another shop that sells locally milled flour and other grain products. A wine shop with a knowledgeable, accessible owner. Galleries featuring local artists. I want more of that. and I think a lot of shoppers do. More local restaurants, fewer chains.

I get that there is widespread economic pain esp. in the food/entertainment areas...not Pollyanna, just observant.

Costco. It's built for pandemics, economic downturns, and boom times.

IMHO, those shops with a strong customer base, who own their own buildings, will probably survive. Every other Mom and Pop shop... they are hurting.

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sekker
Amazon, Target and Walmart.

Everything else is at risk.

And HD.
Trust me on this.

---

Roswell, GA (Atlanta suburb)

Ironically, the only retailers left will be Radio Shack and Sears.

My main concern with all this tumult is that corporations will seize on this situation to put even more intense downward pressure on workers to accept an even more onerous work culture; lower and more stagnant wages, more limited benefits, even fewer hours per worker.

It’s going to be a employers’ market as far as jobs are concerned, and the last thing in this world to count on is the kindness of corporations.*









*Blanche Dubois

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rgG

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sekker
Amazon, Target and Walmart.

Everything else is at risk.

And HD.
Trust me on this.

Sorry - yes, all of the home 'improvement' Big Box stores are doing great.