closures

5 Big Retail Chains That Will Be Gone in 5 Years

Recently, we've bidden farewell to Borders, Circuit City and Linens 'n Things. Here are five more once-thriving chains that are probably doomed thanks to lousy management or just being in the wrong business at the wrong time.

Not So Friendly's: Bankrupt Chain Lays Off 1,260

The 63 restaurants Friendly's closed on Wednesday resulted in about 1,260 layoffs -- more than 12% of the company's 10,300 person workforce. Everyone from managers to dishwashers were told Tuesday evening that the following day would be their last at Friendly's.

Military Base Closures Take a Big Toll on Local Housing Markets

Unlike the military base closures that occurred in the 1990s, the 20 bases that the government is scheduled to close next year come at a time of great economic uncertainty. Not only will the closures take a toll on already-suffering local economies but it could also send real estate markets in those areas spiraling further downward.

Target to Close All In-Store Garden Centers by End of September

Retailer Target Corp. (TGT) will close all its in-store garden centers by the end of next month. The 262 in-store garden centers are mostly located in Florida, California, Arizona and Nevada, The Florida Times-Union reported. They are a minority of the 1,800 Target stores in 49 U.S states.

Great Atlantic Says It Will Close 25 Stores This Year

Retailer Great Atlantic & Pacific Tea Co. Inc. (GAP) said it would close 25 of its 429 stores. The 25 stores will close later this year, The Hartford Business Journal reported. The stores are located in Connecticut, Pennsylvania, New Jersey, Maryland and New York.

Slate Group Shrinks:
Will It Cut The Root Next?

Of three Slate spin-off sites launched in 2008, two have already folded. But there's reason to the The Root, a site for African-American audiences, will succeed where its siblings failed.