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Retail stores or banks that might go bye bye

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BearsAndTurtlesRtheBest
Senior Contributor

Retail stores or banks that might go bye bye

with this AWESOME(sarcasm) economy which retail stores and banks do you think or already know of that will go out of business very soon or in the furture to come? I ve heard that JCP is going no where and probably vanishing. any1 else??

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 1 of 30
29 REPLIES 29
asteroidblues86
Regular Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

According to the article on yahoo's homepage Best Buy and Sears are not doing well and will be closing a lot of locations.

Message 2 of 30
thom02099
Valued Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE


@BearsAndTurtlesRtheBest wrote:

with this AWESOME(sarcasm) economy which retail stores and banks do you think or already know of that will go out of business very soon or in the furture to come? I ve heard that JCP is going no where and probably vanishing. any1 else??


Best Buy...Sears....JCP...Radio Shack...Blockbuster...Barnes & Noble....K-Mart.  All have been mentioned for extinction, some sooner than others.  Recent article in the news said that all of these were closing down a substantial number of stores this year. 

Message 3 of 30
Imua
Frequent Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE


@BearsAndTurtlesRtheBest wrote:

with this AWESOME(sarcasm) economy which retail stores and banks do you think or already know of that will go out of business very soon or in the furture to come? I ve heard that JCP is going no where and probably vanishing. any1 else??


interesting about JCP - they completely pulled  out of hawaii about 10 years ago.

 

sears is still here, but is closing several stores in the near future (not sure how many will be left here when all is said and done)

 

Message 4 of 30
shakalaka
Established Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

off topic: OP - Why are you writing most of the times in CAPS? Just wondering ...

 

ontopic: I guess non, as long as the company exists. It is all about customer relationship and they won´t stop issuing their cards as lonng as they exist.



FICO (TU/EX/EQ): 773/766/778 - Total CL 255+K
Message 5 of 30
BearsAndTurtlesRtheBest
Senior Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

If they were to go out of business and are cardholders do they automatically close the account?? and if they do close them will it affect your credit??

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 6 of 30
BearsAndTurtlesRtheBest
Senior Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

@shakalaka im working on that, and yeah they should stop offering cards if they will be going out of business.

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 7 of 30
bs6054
Valued Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE


@BearsAndTurtlesRtheBest wrote:

If they were to go out of business and are cardholders do they automatically close the account?? and if they do close them will it affect your credit??


If there are balances on the credit card accounts, these are receivable assets, and would pass to a buyer (or an appointed controller in the case of BK).  It would up to the new owners to decide whether to continue the cards, with or without new terms.

Message 8 of 30
mtrea001
Member

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

I'm not sure how large they were, but here in SOCAL there used to be a department store called Harris'/Gottschalks. My mom had a store card though them and when they went bankrupt her account was sold to a third party company and they told her to pay the balance (minimum all the way to PIF) at her convienience after which her account would be closed in good standing with no negative outcomes (other than a closed LOC).  I guess they bought out her debt with the intention of profiting from the account's revolving debts.  

 

Anyone remember Harris's/Gottschalks?! They actually had some pretty cool stuff, lol. 

Message 9 of 30
BearsAndTurtlesRtheBest
Senior Contributor

Re: REATIL STORES OR BANKS THAT MIGHT GO BYE BYE

I remeber Gottschalks, hardly ever noticed their stuff since I was like 12 or 13

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 10 of 30
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