Reinvention of Retailing
Across the newswire this afternoon, Richmond, VA based S&K stores can’t find a buyer, liquidation could start as early as tomorrow. Closing all 105 stores and selling all assets.
At one time, Richmond was the HQ for a number of premier retail brands. It isn’t the city because this is a great family environment to live in. It’s a sign of the retail times.
Look at the other Richmond retail chains that have gone belly up or been acquired!
Thalhimer Brothers, 100+ year old department store chain (division of Carter, Hawley, Hale now Macy’s);
Miller & Rhoads, 100+ year old competitor to Thalhimer’s (division of Allied Stores acquired by Macy’s);
This End Up Furniture – crate furniture manufacturer and retailer with 100+ stores; bankrupt.
Helig Meyers – low end to moderate priced furniture retailer in many of the small towns in America; bankrupt.
Circuit City – the premier electronics retailer in America 20 years ago, outfoxed by Best Buy; bankrupt.
And now S&K Brands, 105 men’s stores.
There may be others, excuse my memory. Sad state but it’s part of the changing landscape of retailing. America has far too many stores per capita. In the Age of Consumption, America needed to be only minutes from all the chains, specialty stores and markets. But the recession is shredding this thinking, destroying those buying patterns and conveniences and forcing us to be more frugal than we ever thought about being.
Life goes on- reinvention of retailing. What’s your point of view?
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Hi, nice posts there. Thanks for the interesting information.