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Closings & Financial Woes
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Closings & Financial Woes Hot ‘N Now (517-694-4240) closed two Jackson, MI locations. Last month, the hamburger chain closed locations at 2550 Airport Road and 1184 North West Avenue. The company continues to operate a location at 3212 East Michigan Avenue in Jackson. More than 50 franchised and company-owned drive-thru only restaurants operate in IN, MI and WI. The company plans to close a total of nine stores, including the Jackson locations, as well as restaurants in the Saginaw and Bay City, MI markets. Donato’s Pizzeria Corp . (800-366-2867) is closing six of its 21 company-owned locations in the Cincinnati, OH and northern KY areas. The company plans to open three stores this year.Coldwater Creek Inc. (208-263-2266) plans to close two clearance outlet locations this month. The casual clothing, accessories and gifts retailer operates seven outlet locations in the U.S. Rizzoli Bookstore (212-387-3400) closed its South Coast Plaza location in Costa Mesa, CA. The closure is due to a decision to withdraw from the retail book business by HdP, the book store’s parent company. The store closures began in 1999. A location in San Francisco, CA also will be closed, however stores in New York, NY and Milan, Italy will remain open. Casual Male Corp. (800-767-0319) may close 48 stores. The company, which filed for Chapter 11 bankruptcy in May, has asked a bankruptcy judge for permission to close the unprofitable locations. The company operates 606 stores in 47 states. Reeds Jewelers, Inc. (877-406-3266) plans to close at least 15 locations via sales, lease terminations and lease expirations as part of the company’s restructuring plan. The jeweler, which currently operates 109 stores, closed four under-performing stores in the third quarter of last year. Jacobson Stores Inc. (517-764-6400) is closing five under-performing stores as part of the company’s reorganization plan under Chapter 11 bankruptcy. Prior to filing bankruptcy, the specialty store chain operated 23 stores in FL, IN, KS, KY, MI and OH. Good Guys Inc. (510-747-6000) is closing eight unprofitable stores during the next two months. The stores to be closed are in Tacoma, Federal Way and Silverdale, WA; Clackamas and Airport Way in Portland, OR; Pinole and West Covina, CA and Maryland Parkway in Las Vegas, NV. The consumer electronics retailer will operate 71 stores following the closures. O’Malia (317-573-8088) is closing a location at 10450 North College Avenue in Carmel, IN. The company operates seven grocery stores throughout IN. Sears, Roebuck and Co. (847-286-2500) is relocating its Fort Worth, TX location. The department store, located in the Fort Worth Town Center Mall, is expected to close next month and reopen at the Hulen Mall, also in Fort Worth, TX. The company also is closing a store at the Southtown Mall in Fort Wayne, IN and locations in Milwaukee, WI and Arlington, TX. The company operates about 860 full-line stores nationwide. Rex Stores Corp. (937-276-3931) and CVS (800-746-7287) closed locations at the Hampshire Mall in Hadley, MA last month. Rex Stores Corp., which operates 267 electronics and appliance stores, closed the location because the area is not growing. The CVS location is closing as part of the company’s plan to close 200 stores nationwide. Intimate Brands, Inc. (614-415-7555) is closing a Victoria’s Secret location at the Underground Atlanta mall in Atlanta, GA. The store is closing due to financial reasons. The company operates 915 lingerie and 498 beauty stores. |