Blockbuster Closing Up to 960 Stores By End of 2010
CityBiz real estate makes a great catch in an 8K filing by Blockbuster Inc. today. The company is planning on closing a boatload of stores between now and the end of 2010.
Here are the grisly details:
- 2009 Normal Closures — 280-300
- 2009 Accelerated Closures — 300-385
- 2010 Normal Closures — 100-125
- 2010 Accelerated Closures — 130-150
- Stores w/additional lease mitigation/termination efforts — 275-300
- Stores that may be converted to outlets — 250-300
- Total store closures and other actions — 1,335-1,560
Numbers updated below to reflect this announcement, but only including the 2009 closures.
Bankruptcies and Liquidations:
- Jan. 7, Goody’s liquidates, closing 287 stores
- Jan. 8, Against All Odds files for bankruptcy protection, operates 64 stores overall, plans to close West Coast stores
- Jan. 13, Shane Co. files for bankruptcy, operates 23 stores
- Jan. 14, Gottschalks files for bankruptcy, operates 58 stores, Update: March 31, Gottschalks will liquidate
- Jan. 16, Circuit City to Liquidate, closing 567 stores
- Feb. 6, Fortunoff, operates 20 stores
- Feb. 6, Bruno’s, operates 66 stores
- Feb. 12, S&K Famous Brands, operates 136 stores; Update: Feb. 19, plans to close 30. Update: May 26, plans to close rest.
- Feb. 17, Innovation Luggage, operates 10 stores
- Feb. 23, Ritz Camera, operates about 800 stores; Update, April 6, closing 300 camera stores and 120 Boater’s World stores, Update, July 13, Liquidation possible
- March 6, Joe’s Sports & Outdoor, operates 30 stores
- March 25, Bi-Lo, operates 215 stores
- April 13, Z Gallerie, operates 56 stores
- April 13, Ultra Stores, operates 181 stores
- May 5, Filene’s Basement, operates 25 stores, sold 17 Update: Syms and Vornado buy the chain.
- May 28, Anchor Blue, operates 177 stores, closing 50
- May 29, Oilily, operates 33 stores, closed 8
- June 17, Eddie Bauer, operates 371 stores
- July 2, Crabtree & Evelyn, operates 126 stores
- July 13, Basha’s, operated 163 stores, closed 5, closing 10 more
Potential Bankruptcies & Liquidation Impact: 1,541 confirmed closures out of about 3,385 stores
Announced Closings
- Jan. 8, New York & Co., 50 stores
- Jan. 8, Macy’s, 11 stores
- Jan. 9, Supervalu, 50 stores
- Jan. 13, Cost Plus, 26 stores
- Jan. 20, Yankee Candle, 28 Illuminations stores
- Jan. 21, Filene’s Basement, 11 stores
- Jan. 22, Phillips-Van Heusen, 175 stores
- Jan 22, Brown Shoe, up to 35 Famous Footwear stores
- Jan. 26, Home Depot, 48 stores
- Jan. 29, Starbucks, 200 U.S. Stores (plus 100 international), Update:Starbucks keeps 30 stores open.
- Jan. 29, Chico’s, up to 25 stores
- Feb. 9, Talbots, 20 stores
- Feb. 24, Jimmy’Z, 11 stores
- Feb. 24, Z. Gallerie, 25 stores
- Feb. 25, Zale Corp., 115 stores
- Feb. 26, Gap, 50 net closings
- Feb. 27, Sears, 44 stores, Update: 28 stores
- March 3, Virgin Megastores, 6 stores
- March 6, Ann Taylor, 37 stores in 2009, 163 total by end of 2010; Update Augusut 3: 30 more stores in 2009
- March 18, Drug Fair, 11 stores
- March 23, Pier 1, 80 stores
- April 3, Rite Aid, 117 stores
- April 21, Kirkland’s, up to 40 stores
- April 29, Jones Apparel Group, 225 stores
- June 8, J.Jill, 75 stores
- June 16, Ruehl, 29 stores
- July 9, Smith & Hawken, 56 stores
- Sept. 9, Samsonite, about 86 stores
- Sept. 9, Pacific Sunwear, 40 stores
- Sept. 15, Blockbuster, up to 685 stores
Total Closings: up to 2,439 U.S. stores
Potential Impact of All Announcements to Date: 3,980 closures out of up to 5,824 potentially affected U.S. stores
