| “Black Friday” 2009 might be an analogy for the | | | | crisis liquidation firm and their CEO Milton Waldoff says, |
| lights going out on retail businesses across America. | | | | “A well planned and well executed store closing |
| Dismal sales figures will increase the number of | | | | takes planning, which include many hours of time. |
| emergency inventory liquidation sales and the need to | | | | Well planned involves timing, merchandised correctly, |
| hire a retail liquidation specialist. For the second year | | | | advertised wisely, working with the stores |
| “Black Friday” saw a -2% decrease in sales | | | | management and personnel in a manner to maximize |
| sending a ripple through the New York Stock | | | | results.” He continues “Too often store |
| Exchange. “Walmart fell 33 cents to $54.63 | | | | owners undertake this once in a life time opportunity |
| yesterday in New York Stock Exchange composite | | | | with very limited experience and a lack of knowledge |
| trading. Richfield, Minnesota-based Best Buy lost 43 | | | | of how to make a store closing profitable.” |
| cents to $42.83. Macy’s, based in Cincinnati, and | | | | According to the Waldoff Group website “When a |
| dropped 59 cents to $16.97 yesterday on the New | | | | business needs to be closed, whether it is the owners |
| York Stock Exchange.” (Source: Bloomberg.com) | | | | desire or simply something that must be done, a |
| Many retailers are counting on “Cyber Monday” | | | | professional knows how to maximize this once in a |
| to lift their lagging holiday sales figures. “More data | | | | life- time opportunity. The professional can devote |
| about "Black Friday" sales came to light on Sunday, | | | | the time and effort to addressing your problems while |
| with a bit more pessimism than earlier reports. | | | | you continue to operate your business.” |
| Meanwhile, the focus is shifting toward "Cyber | | | | This holiday shopping season will be the final for many |
| Monday," where more online deals are expected.” | | | | retail stores. If you are planning a going out of business |
| (Source: PCMagazine) “Cyber Monday – the | | | | sale consider the following. Are you thinking "I need to |
| Monday following the Black Friday and the busiest day | | | | liquidate my inventory", this will be as important as the |
| of the year for e-commerce – is about to begin (or | | | | decision to close. A successful closing with the |
| has already begun by many online retailers.) (Source: | | | | assistance of a retail crisis manager in most cases will |
| Noobpreneur) Smaller retail establishments that do | | | | allow the store owner to leave profitably. To ensure |
| not have an online retail presence will have to | | | | the closing process is effective a professional should |
| re-evaluate their ability to last another year. Higher | | | | be contacted at the earliest possible moment in the |
| rents and declining sales in 2009 have force many | | | | planning stages. If black Friday was not profitable the |
| brick and mortar stores to close their doors. | | | | time to contact a retail crisis manager is now. |
| The Waldoff Group is the internet’s #1 ranked retail | | | | |