https://www.retaildive.com/news/retails-pandemic-bankruptcy-bloodbath-is-over-but-these-20-companies-are/607393/
5 replies (most recent on top)
Just a walk into centercore will tell you everything you need to know.
The products Belk is offering is the biggest sign that something is not right. The lack of quality merchandise suggests that Belk has burnt it's bridges with all the name brand vendors and now has to resort to selling off brand or closeout merchandise from other defunct retailers. The vitamin shop was a big WTF moment in our store, and now it just sits and collects dust.
True Dat
Restructure, ha, the store would have been cleaned, for years customers and associates complained about the carpet, dats definitely not going to happen. Already been informed how managers cut costs, cut our hours, to reap benefits for themselves.
What few associates are left, are overworked, and underpaid, yet they hire new temps and pay them more.
They've also brought in old, and low quality clothing merchandise, expired vitamins / hair products, and the skincare merchandise, Orlane and Perlier is sold at Amazon, Target, and Walmart to sale.
We're going into outlet store mode, until the closure.
Just walk into any belk store. Does it look like a healthy retailer? Are stores in good condition? Are employees happy? Is upper management transparent?
Belk was in and out of bankruptcy so quickly this year that you might not even have noticed. The company entered Chapter 11 to execute a quick restructuring with the support of major lenders, which brought in new capital and kicked out some maturities.
The department store chain, more than a century old, exited with its store footprint in tact and private equity sponsors Sycamore still in charge. Since filing, the company has revamped its C-suite, including at the chief executive spot.