Dick's CEO: "The Retail Industry Is In Panic Mode"

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Wed May 20, 2020 9:41 am

Doc wrote:
Tue May 19, 2020 8:08 pm
Milo wrote:
Tue May 19, 2020 7:07 pm
Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801
Furniture chains like Pier 1 have been disrupted by companies like Wayfair.
I think we will need some sort of mall reclamation fund. These malls aren't coming back, the owners will bankrupt their way out of any obligations, and we need to do something with the rotting malls left afterwards.

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Doc
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Location: Cradle To Grave

Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Wed May 20, 2020 12:12 pm

Milo wrote:
Wed May 20, 2020 9:41 am
Doc wrote:
Tue May 19, 2020 8:08 pm
Milo wrote:
Tue May 19, 2020 7:07 pm
Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801
Furniture chains like Pier 1 have been disrupted by companies like Wayfair.
I think we will need some sort of mall reclamation fund. These malls aren't coming back, the owners will bankrupt their way out of any obligations, and we need to do something with the rotting malls left afterwards.
Maybe they can be converted to warehouses for ecommerce companies
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Sertorio
Posts: 3604
Joined: Fri Dec 16, 2016 3:12 am

Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Sertorio » Wed May 20, 2020 12:19 pm

Doc wrote:
Wed May 20, 2020 12:12 pm
Milo wrote:
Wed May 20, 2020 9:41 am
Doc wrote:
Tue May 19, 2020 8:08 pm
Milo wrote:
Tue May 19, 2020 7:07 pm
Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801
Furniture chains like Pier 1 have been disrupted by companies like Wayfair.
I think we will need some sort of mall reclamation fund. These malls aren't coming back, the owners will bankrupt their way out of any obligations, and we need to do something with the rotting malls left afterwards.
Maybe they can be converted to warehouses for ecommerce companies
And what would you do with the unemployed?... Send them to fight foreign wars?... The only places where in the future you can use the less qualified unemployed is in non productive activities, such as environment protection, assistance to the elderly, etc. And that will cost money to the community, which means higher taxes for the oligarchs...

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Doc
Posts: 4409
Joined: Thu Dec 15, 2016 7:09 pm
Location: Cradle To Grave

Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Thu May 21, 2020 5:41 am

Sertorio wrote:
Wed May 20, 2020 12:19 pm
Doc wrote:
Wed May 20, 2020 12:12 pm
Milo wrote:
Wed May 20, 2020 9:41 am
Doc wrote:
Tue May 19, 2020 8:08 pm
Milo wrote:
Tue May 19, 2020 7:07 pm
Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801
Furniture chains like Pier 1 have been disrupted by companies like Wayfair.
I think we will need some sort of mall reclamation fund. These malls aren't coming back, the owners will bankrupt their way out of any obligations, and we need to do something with the rotting malls left afterwards.
Maybe they can be converted to warehouses for ecommerce companies
And what would you do with the unemployed?... Send them to fight foreign wars?... The only places where in the future you can use the less qualified unemployed is in non productive activities, such as environment protection, assistance to the elderly, etc. And that will cost money to the community, which means higher taxes for the oligarchs...
I was just being Ironic about the malls Sertorio. Also, the Middle Class not the Oligarchs would pay the taxes.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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