Retail Industry
Industry: Email Alert RSS FeedBankruptcies, closings and M&As: as fittest forge ahead, casualty count multiplies - Annual Industry Report - Statistical Data Included
DSN Retailing Today, July 8, 2002 by Debbie Howell
[CHAPTER 11 FILINGS]
DATE OF NUMBER
FILING OF UNITS
Ames 8/01 452
Dollarland 3/02 46
Kmart 1/02 2,114
Quality Stores (1) 11/01 267
House2Home (2) 11/01 42
McCrory's 9/01 200
Phar-Mor 9/01 139
Egghead.com 8/01 0
Horizon Pharmacies 7/01 43
HomeLife Furniture 7/01 128
Krause's Furniture 7/01 89
Trak Auto (3) 7/01 196
Webvan.com 7/01 0
Wolf Camera 6/01 500
Payless Cashways 6/01 110
DIY Home Warehouse 6/01 6
Lechters 5/01 325
Casual Male 5/01 662
Zany Brainy 5/01 187
Track 'n Trail 4/01 151
Drug Emporium 3/01 77
eToys 3/01 0
West Coast Entertainment 3/01 56
Bill's Dollar Stores (4) 2/01 410
Crown Books 2/01 90
Forest City Auto Parts (5) 2/01 45
Frank's Nursery & Crafts (6) 2/01 218
HomePlace 1/01 122
Lids Corporation 1/01 388
Source: DSN Research
(1)Filed Ch. 11 11/01; 85 units qcquired by Tractor Supply Co. 12/01
(2)Formerly HomeBase, the retailer had changed its name and formate to a
new home decor concept called House2Home
(3)Restoration Auto Parts, which owns Trak Auto, now operates under the
Trak Auto name
(4)Shut down 157 underperforming stores in the year leading up to its
Ch. 11 filing 2/01; the chain was purchased in bankruptcy court by
Icelandic retailer Bougur, which merged its 20-unit Bonus Dollar Stores
chain with Bill's, creating Bonus Stores Inc 4/01.
(5)Purchased through bankruptcy liquidation by Restoration Auto Parts
(6)After two rounds of store closures, Frank's emerged from bankruptcy
5/02 with 170 stores
[STORE CLOSINGS AND LIQUIDATIONS]
DATE NUMBER
ANNOUNCED OF UNITS
Ames (1) 6/02 123
Kmart 3/02 283
Dollarland (OOB) 3/02 46
Albertson's 3/02 92
Eatons (2) (OOB) 2/02 7
Factory 2-U 2/02 28
Staples 2/02 30
Electronics Boutique (3) 2/02 37
Charming Shappes (4) 1/02 207
Linens 'n Things 1/02 17
The Goad Guys 1/02 8
Toys "R" Us 1/02 27
Kids "R" Us 1/02 37
Service Merchandise [OOB) 1/02 218
Quality Stores (OOB) 12/01 178
RadioShack 12/01 35
Jo-Ann Stores (5) 11/01 144
Trak Auto (6) 11/01 79
McCrory's (OOB) 11/01 200
House2Home (7) (OOB) 11/01 42
Lechters (OOB) 10/01 315
Phar-Mor 10/01 65
Payless Cashways (OOB) 9/01 1101
Casual Male 8/01 81
CSK Automotives 8/01 36
HomeLife Furniture (OOB) 7/01 128
Krause's Furniture 7/01 32
Forest City Auto Parts (8) (OOB) 7/01 45
Webvan.com (OOB) 7/01 0
DIY Home Warehouse (OOB) 6/01 6
Weiner's (OOB) 6/01 141
AutoZone 6/01 35
HomePlace (OOB) 5/01 122
Heilig-Myers 4/01 300
Strouds (9) 4/01 50
Natural Wonders (OOB) 3/01 237
Paul Harris (10) 3/01 316
Northern Reflections 3/01 323
Crown Books 2/01 28
Frank's Nursery & Crafts (11) 2/01 47
Garden Botanika (12) (OOB) 2/01 109
Stern's (13) (OOB) 2/01 24
Hit or Miss (OOB) 2/01 142
eToys.com (OOB) 2/01 0
Studio Store (14) 2/01 130
OfficeMax 1/01 50
Office Depot 1/01 73
One Price Clothing 1/01 42
JCPenney 1/01 47
Sears (15) 1/01 89
Ann & Hope (16) 1/01 4
Stage Stores (17) 1/01 118
ShopKo 1/01 23
West Coast Entertainment 1/01 137
Source: DSN Research
(1)Includes announced closures of 47 stores in August, 16 in November,
54 in December and six in June
(2)Sears Canada converted its seven Eatons stores to its own banner,
effectively ending the Eatons name; the retailer purchased 19 Eatons
locations in 1999 and had already changed 12 to Sears Canada
(3)Closed its remaining 15 EB Kids units and planned to sell off its
22-store BC Sports Collectibles chain
(4)Includes closure of all Added Dimensions and The Answer stores and
130 Fashion Bug outlets
(5)Includes announced closure of 42 stores3/01 and 102 more 11/01
(6)A division of Restoration Auto, Trak exited Chicago and Milwaukee
markets after filing Ch. 11 7/01
(7)Formerly Homebase, the retailer down- sized and changed its name and
format a new home decor concept called House2Home that failed during
last year's recession
(8)Restoration Auto had acquired Forest City, which filed Ch. 11 2/01,
and subsequently shut down 22 stores; the remaining 45 were ordered
liquidated by the court
(9)Strouds Acquisition Corp. purchased the remaining 50 Strouds stores
(10)Had been in bankruptcy since 10/00 and announced liquidation in
3/01; former ceo Charlotte Fischer led a group that purchased rights to
the name in 5/01 and has since reopened stores under the banner
(11)Emerged from bankruptcy in 5/02 with 170 stores
(12)Had been in abnkruptcy since 4/99
(13)Federated announced it would shutter five Stern's stores and convert
the remaining 19 units to either Bloomingdale's or Macy's
(14)Warner Bros. announced it would either permanently close or sell its
Studio Store chain
(15)Included for full-line department stores, 53 NTB stores, 30 hardware
stores and two Sears Auto Centers
(16)Shut down all four stores in Massachusetts and turned its two
remaining Rhode Island stores into smaller Ann & Hope Outlets
(17)Filed Ch. 11 6/00 and subsequently emerged 8/01 with 342 stores
[MERGERS AND ACQUISITIONS]
BUYER OF NUMBER
ACQUISITION MERGER PARTNER DATE OF UNITS
Lands' End Sears 6/02 0
Deal$ Save-A-Lot 4/02 45
Harmon Discount Bed, Bath & Beyond 3/02 27
Supermercados Amigo (1) Wal-Mart 2/02 35
Quality Stores (2) Tractor Supply Co. 12/01 85
Bruno's Supermarkets Royal Ahold 12/01 184
Egghead.com Amazon.com 12/01 0
Cyberian Outpost Fry's Electronics 12/01 0
Video Update (3) Movie Gallery 12/01 320
FAO Schwarz (4) The Right Start 11/01 23
Discount Auto Parts Advance Auto 11/01 667
Wolf Camera (5) Ritz Camera 11/01 420
Your "other" Warehouse The Home Depot 10/01 0
Drug Emporium (6) Snyder's Drug Stores 10/01 77
Mid-State Auto Distributors O'Reilly Automotive 10/01 85
Zainy Brainy The Right Start 9/01 187
Lane Bryant Charming Shoppes 8/01 651
Future Shop Best Buy 8/01 88
Liberty House (7) Federated 7/01 19
Oshman's Gart Sports 6/01 58
Sound Advice Entertainment Tweeter Home 6/01 33
Total Home (8) The Home Depot 5/01 4
Bill's Dollar Stores (9) Baugur Corporation 4/01 410
Carport Auto Parts (10) Advance Auto 4/01 51
Sands & McDougall (11) Office Depot 4/01 8
Genuardi's Safeway 2/01 36
Cargo Furniture Pier 1 Imports 2/01 21
Musicland (12) Best Buy 2/01 1,330
Source: DSN Research
(1)A supermarket chain in Puerto Rico
(2)Tractor Supply Co., in conjunction with a group of liquidators, bid
for 152 of rival Quality Stores' assets at a bankruptcy action and opted
to pick up 85 of those location 12/01
(3)Video Update had been in bankruptcy since September 2000
(4)The Right Start purchased 23 of 42 stores, the Web site and catalog
operations of FAO Schwarz; in March, the company changed its corporate
name to FAO Inc.
(5)Ritz purchased the remaining store assets of bankrupt Wolf Camera
(6)Snyder's acquired the assets of bankrupt Drug Emporium at auction
(7)Federated planned to convert the stores to the Macy's name
(8)A home improvement retailer in Mexico
(9)Purchased through bankruptcy court by this Iceland-based company;
prior to the Ch. 11 filing. Bill's had shut down 157 underperforming
stores; Baugur subsequently merged its 20-unit Bonus Dollar Stores chain
in Florida with Bill's, creating Bonus Stores Inc. 4/01
(10)Advance Auto closed 21 of the stores and converted 30 to its format
(11)A contract stationer that also operates eight retail office supply
stores in Australia
(12)Operated 1,330 Sam Goody, Suncoast, Media Play and On Cue retail
mall-based stores
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COPYRIGHT 2002 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2002 Gale Group
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