Everything Must Go! Chain Stores Closing Nationwide!

Chain Store Closing Sale at Circuit City, 2009

Nationwide (CNN)- There has been a chain of stores that have survived decades of sales in retail merchandise.  From electronics to clothes the brick and mortar of retail shopping has been in popular department stores for years, until the recent down slope of the economy has shrunk the middle class and gigantic online retailers like Amazon.com has taken over the way retailers shop.  Why go to the department store when you can find a deal at a discount for a more reasonable price online, possible with free shipping?  The devestating news especially to employees is like the plummet of Circuit City back in 2009.  JCPenny amongst one of the most well known retailers are cutting 2,000 jobs and downsizing 33 store locations to generate an estimate savings of $65 million dollars.  By 2015, Staples plans to close 255 store locations in order to save a goal of $500 million. Great for corporate moguls but what about the people?  RadioShack the shack of convenient electronics is a competitor of Best Buy, and decided to give 1,100 stores a hang.   The Superbowl Ad RadioShack's Stuck in the 80's Ad was reported to have boosted stocks.  did mention that Radio Shack chain stores were out of style and in need of a makeover.  The possible number of layoffs and store closings were undisclosed.



Source:
J.C. Penney cutting 2,000 jobs, closing 33 stores - Jan. 15, 2014. (n.d.). Retrieved from http://money.cnn.com/2014/01/15/news/companies/jcpenney-jobs/index.html?iid=EL

Everything must go: There's a flood of store closings - Mar. 7, 2014. (n.d.). Retrieved from http://money.cnn.com/2014/03/07/news/companies/retail-store-closings/index.html?hpt=hp_t2

Staples to close 225 stores - Mar. 6, 2014. (n.d.). Retrieved from http://money.cnn.com/2014/03/06/news/companies/staples-store-closing/index.html?iid=EL