Planned Retail Closures

The following is a list of planned retail closures. After reviewing this list, you may want to ask yourself what CAP should we be underwriting these loans. If these firms are failing, you can only imagine what is happening to the single-tenant, mom and pop retail owners.

The following is an initial list of planned retail closures:
1. Ann Taylor is closing 117 storesnationwide.
2. Eddie Bauer to close more stores.The company has already closed 27 shops in the first quarter and plans to closeup to two more outlet stores by the end of theyear.
3. Cache is closing 20 to 23 storesthis year.
4. Lane Bryant, Fashion Bug, andCatherines are closing 150 stores nationwide.
5. Talbots, and J. Jill are closing all78 of its kids and men's stores. Now the company says it will close another 22underperforming stores. The 22 stores will be a mix of Talbots women's and J.Jill.
6. Gap Inc. will be closing 85stores.
7. Foot Locker to close 140stores.
8. Wickes Furniture is going out ofbusiness and closing all of its stores.
9. Levitz, the furniture retailer, isgoing out of business and closing all 76 of its stores in December.
10. Zales, Piercing Pagoda plans toclose 82 stores by July 31. It has also announced that it is closing another 23underperforming stores.
11. The Walt Disney Company subsidiaryChildren's Place filed for bankruptcy protection in late March. Walt Disney, ina news release, said it has also obtained the right to close about 98 DisneyStores in theU.S.
12. Home Depot has 15 store closings.
13. CompUSA clarifies details on itsstore closings. Any extended warranties purchased for products through CompUSAwill be honored by a third-party provider, Assurant Solutions.
14. Macy's is closing 9stores.
15. Movie Gallery is closing 160 storesas part of reorganization plan to exit.They plan to close 400 of 3,500Movie Gallery and Hollywood Video stores in addition to the 520 locations thevideo rental chain closed last fall.
16. Pacific Sunwear is closing 153 Demostores.
17. Pep Boys is closing 33stores.
18. Sprint Nextel is closing 125 retaillocations.
19. J. C. Penney, Lowe's, and OfficeDepot are scaling back.
20. Ethan Allen Interiors announcedplans to close 12 of 300+ stores in an effort to cutcosts.
21. Wilsonsthe LeatherExperts is closing 158 stores.
22. Sharper Image: The company recentlyfiled for bankruptcy protection and announced that 90 of its 184 stores areclosing.
23. Bombay Company: The company unveiledplans to close all 384 U.S.-based Bombay Company stores.
24. KB Toys posted a list of 356 storesthat it is closing around theUnited Statesas part of itsbankruptcy reorganization.
25. Dillard's plans to close morestores.
26. Steve and Barry’s Clothing, whichhas 240 stores filed for bankruptcy.
27. Starbucks is in the process ofclosing 600 stores.