by Diana Lucio
Published: Fri, January 09, 2009 - 8:11 pm CST
Last Updated: Fri, January 09, 2009 - 8:18 pm CST
A rash of retail bankruptcies is forcing several big name stores to close their doors.Goody's Family Store filed for Chapter 11 back in June, closing 69 of its stores including one in Mobile. Today, the company began its liquidation.
According to financial analysts the 2008 holiday shopping season was the worst in 40 years.
While the crowds at Bel Air Mall were as large as last year, store sales paled in comparison. "The same number of customers bought the same number of products but they were able to get it cheaper than they did last year. And that resulted in an overall sales decrease,"said Tim Nolan, General Manager Bel Air Mall.
According to the International Council of Shopping Centers more than 3,000 chain stores could close in just the first half of 2009.
States like Florida, California and Nevada could be among the hardest hit.
Circuit City Closing Remaining Stores
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