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companies going bankrupt

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  #1  
Old 04-29-2008, 08:40 AM
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companies going bankrupt

The following companies just filed for bankruptcy:

Hollywood Video

Levitz

Sharper Image

Performance Team Freight

Linens n Things

Circuit City

I am not too sure on all of these. My mom sent me this and thought I would ask here if anyone had heard anything more.. I know I read about Linens n Things.
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  #2  
Old 04-29-2008, 08:42 AM

RE: companies going bankrupt

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Hadn't heard on any of the excpet The Sharper Image. Wow! I can't believe some of these.
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  #3  
Old 04-29-2008, 08:42 AM

RE: companies going bankrupt

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I know the 4 Hollywood videos close to me have all closed in the past couple weeks!
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  #4  
Old 04-29-2008, 08:44 AM

RE: companies going bankrupt

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wow that is crazy if it is true.
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  #5  
Old 04-29-2008, 08:44 AM

RE: companies going bankrupt

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Sharper Image and Linens - N - Things were in an article I read recently. I hadn't read about Circuit City or heard it either, but may be for real.
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  #6  
Old 04-29-2008, 08:45 AM

RE: companies going bankrupt

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Blockbuster just bought Circuit City.
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  #7  
Old 04-29-2008, 08:48 AM

RE: companies going bankrupt

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I hope that Circuit City stays the same even though they were bought out. One thing I like is that the salespeople aren't commission based so you get a somewhat unbiased opinion of the products when you can find a salesperson, .
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  #8  
Old 04-29-2008, 08:53 AM

RE: companies going bankrupt

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I just posted it...it actually looks like Blockbuster just "offered" to buy them out...nothing official yet!
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  #9  
Old 04-29-2008, 09:16 AM

RE: companies going bankrupt

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Also Friedmans Jewelers as well if any of you have one near you. Went in there the other day and everything was 30-70% off. Overheard an employee say that there will be another markdown on Mothers day weekend.
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  #10  
Old 04-29-2008, 01:51 PM

RE: companies going bankrupt

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TigerGirl, Best Buy is not commission based either, and they price comp. I won't miss any of these stores, but I feel for the people who work there.
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  #11  
Old 04-29-2008, 01:55 PM

RE: companies going bankrupt

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Quote:
Originally Posted by marbear View Post
TigerGirl, Best Buy is not commission based either, and they price comp. I won't miss any of these stores, but I feel for the people who work there.
Thanks, I didn't know about Best Buy.
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Old 04-29-2008, 05:10 PM

RE: companies going bankrupt

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Yeah, they offered, but CC declined because their stocks dropped after the offer...Blockbuster is not well liked, I guess.
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Old 04-29-2008, 05:16 PM

RE: companies going bankrupt

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does anyone still have those $25 LNT GCs from the black n decker deal?

has LNT officially declared bankruptcy? what happens to the store GCs?

when I asked the SM a week ago, he glared at me while saying,

"we are NOT closing". you can use your GCs anytime with no problems. I wanted to
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Old 04-30-2008, 07:44 AM

RE: companies going bankrupt

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3 Hollywood Videos near me just closed, also.
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Old 04-30-2008, 08:05 AM

RE: companies going bankrupt

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I also heard that Children's Place has declared bankruptcy. Although, they aren't necessarily closing. I pray that they don't because I like their clothes and love their prices when they have sales. I know that the Sharper Image and Hollywood Video by me have closed.
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Old 04-30-2008, 08:13 AM

RE: companies going bankrupt

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Crescent Jewelers here in my town have going out of business signs. DH is taking me there tonight....since Mothers day and our anni is only 1 day apart this year. :0 )
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Old 05-06-2008, 06:06 AM

RE: companies going bankrupt

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If you have gift cards from the stores listd that MAY close or merge it PROBABLY is a GOOD IDEA to use them ASAP, IN CASE they merge and the merger Co will not accept them. In MANY cases, they give you notice and time to use them. I THINK that is what happened when CVS took over most of the Eckerd stores but THAT was NOT a bankruptcy.
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Old 05-06-2008, 06:20 AM

RE: companies going bankrupt

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Even though they are claiming bankruptcy, it doesn't always mean they will close stores. Sometimes they use bankruptcy to restructure so they can pay back their debt. They might close some of the their less profitable locations though. Kmart closed a lot of stores but they are still around after their bankruptcy.
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Old 05-06-2008, 06:31 AM

RE: companies going bankrupt

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Yeah, I heard LNT was closing
several stores but not all.
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Old 05-06-2008, 07:02 AM

RE: companies going bankrupt

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Quote:
Originally Posted by coupons4cancer View Post
If you have gift cards from the stores listd that MAY close or merge it PROBABLY is a GOOD IDEA to use them ASAP, IN CASE they merge and the merger Co will not accept them. In MANY cases, they give you notice and time to use them. I THINK that is what happened when CVS took over most of the Eckerd stores but THAT was NOT a bankruptcy.
Agreed......I would use up any LNT GC's I had in a hurry. When a company declares bankruptcy, the court views GC's as debt & cardholders are the last to get paid after investors/shareholders/vendors with outstanding receivables. I haven't heard how LNT will be handling theirs but Sharper Image GC holders got stuck holding the bag earlier this year.

PS - It wasn't CVS that merged w/Eckerd - it was RiteAid (at least here). You are correct that it was a merger not a bankruptcy & the did honor outstanding GCs because taking account of outstanding debt is part of the merger process.
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Old 05-15-2008, 05:50 AM

RE: companies going bankrupt

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Here's an update to Circuit City:

Circuit City Gives Up the Fight
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Old 05-19-2008, 11:51 AM

RE: companies going bankrupt

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Thanks Bargain Shopper!

Best Buy is Fine. Expansion into China.
Circuit City is in very big financial trouble.
Sharper Image has filed bankruptcy. Our Brookstone has been accepting SI GC for customers
Linens & Things may file at the end of Qtr.
Hollywood Video (by us) has gone of of business. However this may be a franchise.

Over 9 Billion Dollars were spent by consumers on Gift Cards last year. Most are tossed into a drawer and never used. Exception is an AFCer
These are almost pure profit for the companies. American Express Cards have a Fee associated with them and expire in a year.
Bottom line: Use your Gift Cards.

Last edited by twinkie23; 05-19-2008 at 11:52 AM. Reason: Info explanation
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  #23  
Old 05-19-2008, 04:36 PM

RE: companies going bankrupt

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Quote:
Originally Posted by kvilledrummer View Post
PS - It wasn't CVS that merged w/Eckerd - it was RiteAid (at least here). You are correct that it was a merger not a bankruptcy & the did honor outstanding GCs because taking account of outstanding debt is part of the merger process.
CVS and a Canadian pharmacy bought out Eckerds then RiteAid bought out the Canadian Pharmacy a couple years later.

Quote:
Originally Posted by mothermayi View Post
Yeah, they offered, but CC declined because their stocks dropped after the offer...Blockbuster is not well liked, I guess.

Blockbuster was/is attempting to do a 'hostile' takeover. Similar to what Microsoft was/is trying to do with Yahoo.

I can't stand blockbuster personally. I am a Netflix girl.
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  #24  
Old 05-19-2008, 05:56 PM

RE: companies going bankrupt

joshmamabear's Avatar
on break for now. be back l8er
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joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!joshmamabear has posted more than 5000 great deals! WHOA!!
heads up!

LNT is having memorial day sale starting the 22nd. there are some beach towels with 30% off, then use the 20% store coupon while paying with the LNT GC.

those who have the $15/$15.0x Bud Beach MIR, can get them almost free after rebate.
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