Brick & Mortar Retail Meltdown Continues update

The brick-and-mortar 

retail store meltdown 

started in 2015.

Southeastern Grocers

(Winn-Dixie supermarkets)

filed for bankruptcy on March 28, 2018

saying it plans to continue operating 

over 580 stores in Alabama, Florida, 

Georgia, Louisiana, Mississippi, 

North Carolina, and South Carolina. 

-- On March 14, it also said 

that it would close 94 of its stores,

Michaels

with about 1,300 stores 

in the US and Canada, 

announced on March 22 

it would close all 94 

of its Aaron Brothers 

framing / art supplies 

stores by July 31.

Claire’s Stores 

filed for a Chapter 11 

"pre-packaged" bankruptcy

on March 19, with 7,500 stores

and $1.9 billion in debt. 

Creditors will get equity

for debt -- no announcement 

of any store closings.

Toys “R” Us 

filed for liquidation,

on March 15, 

and will close 

all its 735 US stores,

iquidate their inventory,

and lay off a total of

33,000 employees. 

Bon Ton

stores faces liquidation 

if it cannot find a buyer, 

per bankruptcy court 

on March 12.

Bondholders want 

asset liquidation.

Guitar Center 

opened its 262nd store

in 2014, and also has 120 stores 

for band and orchestral instruments.

In early March, 

it began trying 

to push creditors 

into a debt exchange. 

On March 14, Moody’s said 

this debt exchange will count 

as a default.” 

Sears Holdings 

on March 14, 

said 4Q 2017 revenues 

dropped 28% 

year-over-year. 

It's hard to see imagine Sear,

which includes Kmart stores,

surviving two more years.

Signet Jewelers, 

(Kay Jewelers, Zales, Jared)

said on March 14 

it would close 200 Stores 

over the next 12 months.

Foot Locker, 

with over 3,300 stores globally, 

said on March 2 that it plans 

to close about 110 stores 

in 2018, after closing 147

in 2017, but also opening 

94 new stores in 2017.