Retail Bankruptcies

User avatar
JohnPCapitalist
Posts: 1555
Joined: Tue Feb 16, 2016 10:29 pm
Location: Wall Street
Occupation: Investment management in the financial industry. Deep knowledge of stocks, tech and economics.

Re: Retail Bankruptcies

#276

Post by JohnPCapitalist »

woodworker wrote: Thu Jul 23, 2020 8:29 pm
:snippity:
Personally, I believe the Dow Jones will drop by at least 3,000 points before the election, if not more. Main Street and the vast majority of the country have little or no stake in Wall Street and, to quote a sign from the 2008 crash, "Jump Motherfuckers." Sorry John P.
No need to apologize to me. Quite the opposite. I agree with your analysis, and I've said something similar on a couple of the Fogbow Meetup calls.

I think you're a little too conservative on the drop in the Dow this year. I think we could be lower than the March lows at the end of the year. We probably risk a 40% drop before this is all over in 2023-2024. And that will be even further in the future and a bigger drop if Trump is reelected.


User avatar
woodworker
Posts: 3084
Joined: Thu Jun 02, 2011 2:54 pm

Re: Retail Bankruptcies

#277

Post by woodworker »

JohnPCapitalist wrote: Thu Jul 23, 2020 9:35 pm
woodworker wrote: Thu Jul 23, 2020 8:29 pm
:snippity:
Personally, I believe the Dow Jones will drop by at least 3,000 points before the election, if not more. Main Street and the vast majority of the country have little or no stake in Wall Street and, to quote a sign from the 2008 crash, "Jump Motherfuckers." Sorry John P.
No need to apologize to me. Quite the opposite. I agree with your analysis, and I've said something similar on a couple of the Fogbow Meetup calls.

I think you're a little too conservative on the drop in the Dow this year. I think we could be lower than the March lows at the end of the year. We probably risk a 40% drop before this is all over in 2023-2024. And that will be even further in the future and a bigger drop if Trump is reelected.
That is why I covered my touchas with the "if not more." For the goyim, touchas mean rear end.

Another that scares me if the great orange shitgibbon is re-elected is that he will get rid of Powell and any sane members of the Fed still left, appoint some acting members and get them to invest directly in the market with treasury moneys. As long as he promises to keep buying the market could go up. Of course then it would absolutely no relationship with reality, not like it does now (which one is the sarcasm emoji?).

One thing I have thinking is that when Biden takes office, he should just tell the Mint to make a dozen or so of the Trillion dollar coins and use them to pay off a huge chunk of the national debt. Republicans, conservatives and investors would scream bloody murder, but how is that any different than continuing to run huge deficits which never really seem to bother investors. If Biden can show that the US has changed course, that we will be a responsible citizen, that we are going to invest in ourselves, e.g., infrastructure, education, and renewables, I think he could pull it off.


bring out the tumbrils. I am so fucking filled with pain and anger at what is going on in this country. I do deeply believe that if trump somehow retains power it will be the end of democracy in this country and the end of this country as we know it.
User avatar
ZekeB
Posts: 17972
Joined: Mon Oct 12, 2009 10:07 pm
Location: The nuttiest congressional district of a nut job state.

Re: Retail Bankruptcies

#278

Post by ZekeB »

I've felt this way for the past two years. The market has a bunch of speculators, not investors. Let's see what happens when the earnings reports start coming in.


Trump: Er hat eine größere Ente als ich.

Putin: Du bist kleiner als ich.
User avatar
Gregg
Posts: 4402
Joined: Mon Oct 27, 2014 6:09 am
Location: Cincinnati, OH USA
Occupation: We build cars

Re: Retail Bankruptcies

#279

Post by Gregg »

I think the market is now the captured creature of program trading and any humans involved are just so many data points for the computers. Programs see drops and do that"chart" thing that says if X then Y must follaw and .... its all garbage. I know that people make gazongazillions of dollars from making charts and doing 'technical analysis" but what no one has ever been able to explain to me how some chart of past behavior is predictive of the future. Its in the damn dsiclosure FFS and I personally think the ones making the most money off of charts are people who have conned other people into thinking that they know what the charts mean for the future. Give me good old "show me how you make money and what can make it better or what can fuck it up" analysis.

As simple minded as I sound, I assure you no less than 4 institutions of higher edumicating have adorned my office with very expensive wall paper that says stuff like "Advanced Applied Mathematics, Economics, Master of and International Business... in the descriptions.

Oh, and I've not done bad with my own picks despite all the things they say about experts being, as a group, no batter than random selections.

I won't even mention I do my own part for a little motor car company I know.


Honorary Commander, 699th Airborne Assault Dachshund Regiment
Deadly Sausage Dogs from the Sky
User avatar
woodworker
Posts: 3084
Joined: Thu Jun 02, 2011 2:54 pm

Re: Retail Bankruptcies

#280

Post by woodworker »

Gregg wrote: Fri Jul 24, 2020 11:40 pm I think the market is now the captured creature of program trading and any humans involved are just so many data points for the computers. Programs see drops and do that"chart" thing that says if X then Y must follaw and .... its all garbage. I know that people make gazongazillions of dollars from making charts and doing 'technical analysis" but what no one has ever been able to explain to me how some chart of past behavior is predictive of the future. Its in the damn dsiclosure FFS and I personally think the ones making the most money off of charts are people who have conned other people into thinking that they know what the charts mean for the future. Give me good old "show me how you make money and what can make it better or what can fuck it up" analysis.

As simple minded as I sound, I assure you no less than 4 institutions of higher edumicating have adorned my office with very expensive wall paper that says stuff like "Advanced Applied Mathematics, Economics, Master of and International Business... in the descriptions.

Oh, and I've not done bad with my own picks despite all the things they say about experts being, as a group, no batter than random selections.

I won't even mention I do my own part for a little motor car company I know.
Ah, but you are not an "expert." You are informed, you research and you rely on science and facts. "Experts" are people like Kudlow, Navarro, Jared and Richard Epstein.


bring out the tumbrils. I am so fucking filled with pain and anger at what is going on in this country. I do deeply believe that if trump somehow retains power it will be the end of democracy in this country and the end of this country as we know it.
Sunrise
Posts: 1552
Joined: Fri Nov 04, 2016 3:29 pm

Re: Retail Bankruptcies

#281

Post by Sunrise »

woodworker wrote: Sat Jul 25, 2020 7:05 pm
Ah, but you are not an "expert." You are informed, you research and you rely on science and facts. "Experts" are people like Kudlow, Navarro, Jared and Richard Epstein.
And the bigliest ‘expert’ is, of course, IMPOTUS. After all, he can remember five (related, no less) items. :roll:


M A C A Making America Care Again :daydream:
User avatar
Frater I*I
Posts: 1147
Joined: Thu May 24, 2018 5:08 pm
Location: City of Dis, Sixth Circle of Hell
Occupation: Aviation Mechanic

Re: Retail Bankruptcies

#282

Post by Frater I*I »

Sunrise wrote: Sat Jul 25, 2020 7:14 pm
And the bigliest ‘expert’ is, of course, IMPOTUS. After all, he can remember five (related, no less) items. :roll:
When read off a cue card...


Gazer Into the SovCit Abyss
User avatar
RoadScholar
Posts: 8965
Joined: Wed Jan 26, 2011 10:25 am
Location: Baltimore
Occupation: Historic Restoration Woodworker
Contact:

Re: Retail Bankruptcies

#283

Post by RoadScholar »

“...top...men.”


The bitterest truth is healthier than the sweetest lie.
X3
User avatar
Whatever4
Posts: 13408
Joined: Tue Sep 08, 2009 6:36 am
Location: Mainely in the plain
Occupation: Visiting doctors.

Re: Retail Bankruptcies

#284

Post by Whatever4 »

Coldwater Creek, minutes after they sent me an email saying my backorders were cancelled. Except I didn’t have any backorders.

Wikipedia
On July 20, 2020, Comenity Bank, holder of the Coldwater Creek credit card program, sent an email to borrowers that Coldwater Creek intended to cease all business operations in "August 2020." In the email, Comenity told borrowers, "Coldwater Creek has informed us that any Coldwater Creek merchandise purchased on or after July 6, 2020, will be final sale and not eligible for returns." On the same day, the company's website read: "It's time to say goodbye. Every brand has a story, and ours has taken an unexpected turn." The closure of the website also included the permanent closure of the company's 13 retail locations, most of which had not re-opened since shutting down for the COVID-19 pandemic.


"[Moderate] doesn't mean you don't have views. It just means your views aren't predictable ideologically one way or the other, and you're trying to follow the facts where they lead and reach your own conclusions."
-- Sen. King (I-ME)
User avatar
Shizzle Popped
Posts: 1788
Joined: Tue Apr 09, 2013 3:54 pm
Location: South of Circle City
Occupation: Semi-Retired

Re: Retail Bankruptcies

#285

Post by Shizzle Popped »

Lord & Taylor files for bankruptcy protection
New York (CNN Business) - Becoming the latest of many retailers to declare bankruptcy during the coronavirus pandemic, department store Lord & Taylor has filed for Chapter 11.

The company filed for Chapter 11 bankruptcy protection Sunday, according to court documents.

The bankruptcy comes almost a year after fashion rental subscription service Le Tote, Inc. bought the company for $75 million. Before that, Hudson's Bay Company acquired Lord & Taylor in 2012.

Lord & Taylor opened its first store in New York in 1826, making it the nation's first department store. It was once a mainstay of high-end fashion.

The company could not be reached for comment Sunday evening.
https://www.cnn.com/2020/08/02/business ... index.html

In the early 80's I worked for Associated Dry Goods, which owned Lord & Taylor up until their merger with May Department Stores in 1986.


If Trump was a stopped clock he still wouldn't be right twice a day.
User avatar
Lani
Posts: 6592
Joined: Fri Nov 16, 2012 4:01 pm
Location: Some island in the Pacific

Re: Retail Bankruptcies

#286

Post by Lani »

When I was working my way up in a corporation in WDC, Lord & Taylor was my go-to store. A few years ago, I returned to it on line for most of my office clothing. Prices were great, shipping was fast and free.

Then I learned that L&T was probably filing for bankruptcy, so I checked out my wish list. The prices were higher than when I put them on the list. After reading your post, I went back to L&T again to check out some brands I like. Saks Off 5th, Nordstrom Rack and even Bloomingdales are selling the same for less. So no farewell purchase from me.... It's sad that so many companies that were in my life for years are now disappearing. So many things are disappearing these days.


User avatar
fierceredpanda
Posts: 3561
Joined: Sun Apr 17, 2016 3:04 pm
Location: BAR Headquarters - Turn left past the picture of King George III
Occupation: Criminal defense attorney - I am not your lawyer, and my posts do not constitute legal advice

Re: Retail Bankruptcies

#287

Post by fierceredpanda »

Meanwhile, Dow futures are up 100 again this morning. WTF.

If nothing else, I hope this crisis is convincing a majority of Americans that the relationship between the stock market and the economy as a whole is tenuous at best.


"There's no play here. There's no angle. There's no champagne room. I'm not a miracle worker, I'm a janitor. The math on this is simple; the smaller the mess, the easier it is for me to clean up." -Michael Clayton

User avatar
RVInit
Posts: 9812
Joined: Sat Mar 05, 2016 4:31 pm

Re: Retail Bankruptcies

#288

Post by RVInit »

fierceredpanda wrote: Mon Aug 03, 2020 7:58 am Meanwhile, Dow futures are up 100 again this morning. WTF.

If nothing else, I hope this crisis is convincing a majority of Americans that the relationship between the stock market and the economy as a whole is tenuous at best.
This.


"I know that human being and fish can coexist peacefully"
--- George W Bush

ImageImage
User avatar
woodworker
Posts: 3084
Joined: Thu Jun 02, 2011 2:54 pm

Re: Retail Bankruptcies

#289

Post by woodworker »

And another down, another one, another one bites the dust:

Stein Mart bankruptcy.

https://www.cnn.com/2020/08/12/business ... index.html

And how is that I have managed to post new stories twice without being ninjaed? I come here to catch up, not break the news.


bring out the tumbrils. I am so fucking filled with pain and anger at what is going on in this country. I do deeply believe that if trump somehow retains power it will be the end of democracy in this country and the end of this country as we know it.
User avatar
neonzx
Posts: 10224
Joined: Tue Mar 10, 2009 9:27 am

Re: Retail Bankruptcies

#290

Post by neonzx »

woodworker wrote: Wed Aug 12, 2020 6:58 pm And another down, another one, another one bites the dust:

Stein Mart bankruptcy.

https://www.cnn.com/2020/08/12/business ... index.html

And how is that I have managed to post new stories twice without being ninjaed? I come here to catch up, not break the news.
I just came here to post that... you beat me by two minutes. ;)


User avatar
Volkonski
Posts: 32488
Joined: Sat Mar 02, 2013 4:44 pm
Location: Texoma and North Fork of Long Island
Occupation: Retired Mechanical Engineer
Contact:

Re: Retail Bankruptcies

#291

Post by Volkonski »

Century 21 is closing its doors after 60 years

https://www.goodmorningamerica.com/styl ... itter_abcn
One of New York's most beloved bargain retailers, Century 21, is closing its stores.

The company, best known for designer goods offered at discounted prices, announced on Thursday that operations at 13 stores in New York, New Jersey, Pennsylvania and Florida would end after nearly 60 years.

A decision to close is largely due to the nonpayment of $175 million by the company's insurers "under policies put in place to protect against losses stemming from business interruption such as that experienced as a direct result of the Covid-19 pandemic," the company said.

"While insurance money helped us to rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," Century 21 co-CEO Raymond Gindi said in a statement.


Image“If everyone fought for their own convictions there would be no war.”
― Leo Tolstoy, War and Peace
User avatar
neonzx
Posts: 10224
Joined: Tue Mar 10, 2009 9:27 am

Re: Retail Bankruptcies

#292

Post by neonzx »

Volkonski wrote: Fri Sep 11, 2020 12:42 pm Century 21 is closing its doors after 60 years

https://www.goodmorningamerica.com/styl ... itter_abcn
One of New York's most beloved bargain retailers, Century 21, is closing its stores.

The company, best known for designer goods offered at discounted prices, announced on Thursday that operations at 13 stores in New York, New Jersey, Pennsylvania and Florida would end after nearly 60 years.

A decision to close is largely due to the nonpayment of $175 million by the company's insurers "under policies put in place to protect against losses stemming from business interruption such as that experienced as a direct result of the Covid-19 pandemic," the company said.

"While insurance money helped us to rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," Century 21 co-CEO Raymond Gindi said in a statement.
Century 21 is (was :violin: ) a realty firm. What did they need with any retail outlets for in the first place?


User avatar
RTH10260
Posts: 29085
Joined: Tue Mar 02, 2010 8:52 am
Location: Near the Swiss Alps

Re: Retail Bankruptcies

#293

Post by RTH10260 »

neonzx wrote: Fri Sep 11, 2020 2:46 pm
Volkonski wrote: Fri Sep 11, 2020 12:42 pm Century 21 is closing its doors after 60 years

https://www.goodmorningamerica.com/styl ... itter_abcn
One of New York's most beloved bargain retailers, Century 21, is closing its stores.

The company, best known for designer goods offered at discounted prices, announced on Thursday that operations at 13 stores in New York, New Jersey, Pennsylvania and Florida would end after nearly 60 years.

A decision to close is largely due to the nonpayment of $175 million by the company's insurers "under policies put in place to protect against losses stemming from business interruption such as that experienced as a direct result of the Covid-19 pandemic," the company said.

"While insurance money helped us to rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," Century 21 co-CEO Raymond Gindi said in a statement.
Century 21 is (was :violin: ) a realty firm. What did they need with any retail outlets for in the first place?
in https://www.nytimes.com/2020/09/10/busi ... osing.html
Century 21, which is not connected to the real estate brokerage of the same name,


User avatar
Volkonski
Posts: 32488
Joined: Sat Mar 02, 2013 4:44 pm
Location: Texoma and North Fork of Long Island
Occupation: Retired Mechanical Engineer
Contact:

Re: Retail Bankruptcies

#294

Post by Volkonski »

Despite the similar names the family owned Century 21 stores have nothing to do with Century 21 Real Estate which is owned by Realogy Holdings Corp.


Image“If everyone fought for their own convictions there would be no war.”
― Leo Tolstoy, War and Peace
User avatar
Whatever4
Posts: 13408
Joined: Tue Sep 08, 2009 6:36 am
Location: Mainely in the plain
Occupation: Visiting doctors.

Re: Retail Bankruptcies

#295

Post by Whatever4 »

They sold teeny tiny houses on racks?


"[Moderate] doesn't mean you don't have views. It just means your views aren't predictable ideologically one way or the other, and you're trying to follow the facts where they lead and reach your own conclusions."
-- Sen. King (I-ME)
busterbunker
Posts: 147
Joined: Sat Jan 16, 2016 11:49 pm

Re: Retail Bankruptcies

#296

Post by busterbunker »

This Century 21 (no association with the real estate firm) was actually pretty cool. When I lived in NYC, going to Century 21 usually meant their store under the shadow of the WTC on Cortland. My girlfriend worked as a stylist and they were popular with her crowd. A job could involve buying 6 outfits, saving the receipts, and returning 5 of them. The chosen outfit went into the vaults in case a re-shoot was required. The clerks were hip to that and worked with them. I still have a lot of quality stuff we got there (I bought pots and pans - when your girlfriend is a stylist, you kinda let them dress you up, you know?)

They got crushed by 9/11 - literally - but they rebuilt and rose from their ashes. It was kinda a big deal for New Yorkers at the time:

https://nypost.com/2002/02/28/megastore ... -from-911/

So it's sad that 18 years and 364 days later, their demise is now final. People compare 9/11 to Covid - I'm like dude, 9/11 lasted about two hours (unless you count the invasion of Afghanistan & Second Gulf War.)


User avatar
GreatGrey
Posts: 10597
Joined: Tue Jun 16, 2009 6:06 am
Location: Living in the Anthropocene

Re: Retail Bankruptcies

#297

Post by GreatGrey »



Had my only date with Sterny there.


I am not "someone upthread".
Trump needs to be smashed into some kind of inedible orange pâté.
User avatar
JohnPCapitalist
Posts: 1555
Joined: Tue Feb 16, 2016 10:29 pm
Location: Wall Street
Occupation: Investment management in the financial industry. Deep knowledge of stocks, tech and economics.

Re: Retail Bankruptcies

#298

Post by JohnPCapitalist »

GreatGrey wrote: Fri Sep 25, 2020 11:39 pm

Had my only date with Sterny there.
Always a favorite of my father's to be taken for Father's Day brunch. Sorry to hear it.


User avatar
Volkonski
Posts: 32488
Joined: Sat Mar 02, 2013 4:44 pm
Location: Texoma and North Fork of Long Island
Occupation: Retired Mechanical Engineer
Contact:

Re: Retail Bankruptcies

#299

Post by Volkonski »

Friendly's files for bankruptcy

https://twitter.com/home?lang=en
Friendly's, the iconic East Coast restaurant chain known for its ice cream, has filed for bankruptcy again. It's the latest company in the restaurant industry to go that route during the coronavirus pandemic

Friendly's Restaurants LLC filed for Chapter 11 protection in Delaware on Sunday, its filing said, with estimated liabilities of $50 million to $100 million and estimated assets of $1 million to $10 million.

In a news release, FIC Restaurants Inc., which operates Friendly's, said it intends to sell virtually all its assets to Amici Partners Group, which invests in and runs eateries.

"Nearly all of Friendly's 130 corporate-owned and franchised restaurant locations are expected to remain open subject to COVID-19 limitations," FIC said, "and the transaction is expected to preserve thousands of corporate-owned restaurant team member and franchisee jobs."


Image“If everyone fought for their own convictions there would be no war.”
― Leo Tolstoy, War and Peace
Post Reply

Return to “Economy”