Store Closings in 2010: The Ones that Will Affect Hot Springs, Arkansas

Recently, Tom Van Riper, of Forbes.com, published "Who's Closing Stores in 2010". The list covers several big chain stores, many of which have already closed several stores or have closed altogether.

It's frightening times for the U.S. and it looks like it may get worse before it gets better. People seem to be having a harder time finding jobs and those with jobs are losing them.

I don't really care what President Obama says or any other political figure for that matter, the U. S. is losing steam.

I believe the problem is as simple as supply and demand. Demand for products and services are down, so supply is down, which, in turn, means that companies must cut back on employees or close down. It's not a good thing for us at all, but it's reality.

In the mid-sized town that I live in, Hot Springs, several of the stores on Mr. Van Riper's list have already been closed or affected here.

Waldenbooks/Borders

Mr. Van Riper wrote that in 2009, 110 of these stores closed. One of those being the Hot Springs store. I did a search for Waldenbooks/Borders on their store locater and found that there is only one store left in Arkansas. It happens to be a Borders in Rogers.

Blockbuster

Another one on his list that shows a total closing of 300 stores for 2009. Hot Springs was also affected by those closings. I can't say exactly how many we had that closed, but I know Hot Springs doesn't have any now. In Arkansas, there are a total of six Blockbuster's still listed as open.

Zale Corp.

2009 saw 218 of Zale's jewelry stores close. I couldn't find any evidence that any of those stores were in Arkansas. I do know that the one in Hot Springs is still open. But if they economy continues the way it has been, it may close soon. People just don't seem to be buying the luxury items right now - especially in Hot Springs.

Starbuck's

566 closed nationwide in 2009, according to Mr. Van Riper's article. Again, I didn't find evidence of any of the Arkansas stores closing. I do know in Hot Springs it is a very popular place. Hopefully, that is one place that will not cut back in Hot Springs.

KBToys

461 closed in 2009. I could not find a store locater on their website. They seem to only be an on line store now. I do know that the store in the Hot Springs Mall closed at least five years ago, if not longer than that. I was even surprised to see KB on his list. I thought they did not even exist anymore.

Movie Gallery

450 closed in 2009 according to the article, with another 170 planned to close in 2010. Mr. Van Riper's article said it may even be up to 1,000, with Chapter 11 likely. Hot Springs has four of these stores. That will affect a few people if they end up closing them. In all, there are several scattered around central Arkansas.

Conclusion

I must say that I was surprised to see so many familiar names on the list. We hear about store closings all of the time, but when it is in black and white we realize it affects more of us than we thought.

Mr. Van Riper mentioned several other stores on his list, but I did not include them in mine because they do not have stores in Arkansas.

I just believe this gives us something to think about. Even if it is just a few employees in Hot Springs, when it is more than one store, it affects a lot of people. It makes it harder to go out and find a job, too. So many people are out there looking and wanting jobs, but they just aren't there.

I would like to think that the predictions made of 2010 closings won't happen, but I'm afraid that they will, plus a lot more. Mr. Van Riper only discussed those that are well known chain stores. That leaves us with all the little locally owned stores. How many of those will end up having to close?

Sources:
Forbes.com
Waldenbooks/borders.com
Blockbuster.com
zales.com
kbtoys.com
moviegallery.com