KB Toys filed for Chapter 11 yesterday - the 86 year-old retailer had previously gone through bankruptcy in 2005. According to a story by AP Retail Writer Mae Anderson, the struggling company will be offering shoppers "going out of business" pricing until their retail locations close their doors.
Blogger Ian Ritter, in his "Counter Culture" blog for GlobeSt.com, wrote this morning that KB Toys will be closing all 460 of its stores nationwide.
It is a sign of the times...grab your discount toys while they last. It sure is poor timing for all of the employees.
As we see more retailers go under, wonder what retail lease prices will look like in a few months, especially in malls?
Specializing in Buyer Representation in the Tucson, Arizona real estate market.
"Never forget - Real Estate Is About People"
The retailers are certain to be the next leg of the table.... scary stuff!!
Merry Christmas!
your friend in Charlottesville
Charles - it certainly is a "mixed bag" isn't it? Thanks for being the first to comment.
I would think Commercial Real Estate will tank just like residential did.
I did not realize KB was still around....where is the bailout for the toy folks?
It is a scary time. They should bail them out for children's sake. Merry Christmas.
They closed their only Harrisburg area store in the last round of closings. I also thought they were all closed until I saw an ad yesterday for their Lebanon, PA store, the the article this morning in the newspaper.
Kent - that is too bad for the employees - you are right it could not be worse timing. So many businesses are closing their doors and like you - I worry about the employees.