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Retail stores or banks that might go bye bye

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??

Message 1 of 30
29 REPLIES
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
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. 

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
Message 3 of 30
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)

 


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Message 4 of 30
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): 737/743/739 - Total CL 244+K
Message 5 of 30
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??

Message 6 of 30
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.

Message 7 of 30
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
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
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

Message 10 of 30