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1. Blockbuster
Stores closed:
955
Percentage of total:
23.6%
Reason: Netflix is winning the online movie rental war, and Blockbuster can’t seem to close stores fast enough to get out from under its crushing debts. The company hopes to reignite interest with self-serve kiosks. We’ll see.
2. Liz Claiborne
Stores closed:
87
Percentage of total:
100%
Reason: The struggling apparel chain shuttered its branded stores and is now trying to make it work by selling through JC Penney and QVC. By getting goods out cheaper, the move at least gives the company a short-term lifeline.
A.J. Wright
Stores closed:
162
Percentage of total:
100%
Reason: The TJ Maxx discount line is shutting its doors for good, effective in February. The company plans to convert slightly more than half the shuttered units into TJ Maxx, HomeGoods or Marshalls stores, though more than 4,000 job cuts are still expected.
Borders
Stores closed:
Approximately 200 (analyst estimate; company won’t confirm)
Percentage of total:
28%
Reason: Sinking revenue has Borders scrambling to refinance its debt and delay payments to publishers. Many analysts doubt its viability going forward.
Quizno’s
Stores closed:
Aproximately 1,000 (analyst estimate; company won’t confirm)
Percentage of total:
22.7%
Reason: Struggling as a higher-priced alternative to Subway, the sandwich chain began putting mini-stores into gas stations to boost market share. Upscale fast sandwiches are a tough position in a down economy.
Jones Apparel
Stores closed:
173
Percentage of total:
18.4%
Reason: The fashion chain, with brands including Evan-Picone, Nine West and Ann Klein, is seeing margins squeezed by higher materials costs. Analysts say footwear and accessories are its best bets going forward.
F.Y.E.
Stores closed:
99
Percentage of total:
17.6%
Reason: Most of the planned store closings for the music and DVD seller are still in progress. Parent Trans World Entertainment saw a 20.2% year-over-year sales drop during its latest quarter. In the age of iTunes, the music business is a tough grind for many others
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