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Well...what Office Depot is doing...is nothing, compared to the rest of the Retail....Closing stores doesn't mean going out of Business..Walmart closed hundreds stores during its life...and a company with no debt...cannot go out of business...you should know if you know a little bit of accounting. Consider Amazon...Amazon has 50% size (revenue) of Walmart but they empoyee almost 4 times less employees...That means that less employees doesn't mean less revenue...it just means MORE Automation and less stores.
Charlotte Russe, Family Dollar, Abercrombie & Fitch, and Chico's announced more than 1,100 store closings in total over the course of 24 hours this week.
The news comes one week after JCPenney, Gap, Victoria's Secret, and Tesla announced that they would close more than 300 stores.
These announcements bring the total number of planned closures this year to more than 5,300.
Payless ShoeSource: 2,500 stores
Gymboree: 805 stores
Charlotte Russe: 520 stores
Family Dollar: 390 stores
Shopko: 371 stores
Chico's: 250 stores
Gap: 230 stores
LifeWay: 170 stores
Fred's: 159 stores
Performance Bicycle: 102 stores
Victoria's Secret: 53 stores
Kmart: 50 stores
CVS Health: 46 stores
Bed Bath & Beyond: 40 stores
Christopher & Banks: 30-40 stores
JCPenney: 27 stores
Lowe's: 20 stores
Walmart: 12 stores
ETC..:ETC...ETC.... I Guess Thousands of ex employees of those company are going to write several bad reviews about the company...but when I read the company customer reviews....it often looks like Customers are very unsatisfaid about employees... so...some of them (not all, of course)...deserve to lose the job...
A company with almost no debt (just 35M$ net debt) cannot go BK...I guess you don't know much about accounting.