Closings and Financial Woes
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Closings and Financial Woes

The Dress Barn, Inc. (845-369-4500) anticipates closing 15 stores during the last quarter of the fiscal year. The company operates 734 stores under the Dress Barn and Dress Barn Women brands nationwide.

Winn-Dixie (919-550-7110) will close its store at Mini City Shopping Center in Raleigh, NC. The store had been operating on a month-to-month lease and was terminated by the landlord. Recreational Factory Warehouse will relocate to the 25,000 sq.ft. space located on Capital Boulevard.

Edwards Theatres Circuit Inc. (949-640-4600) closed its Town Center theater in Costa Mesa, CA. The four-screen theater is located near the South Coast Plaza and is the latest to close as the chain attempts to emerge from bankruptcy protection.

Wolf Camera (408-531-9444) filed for chapter 11 bankruptcy protection and asked the court for an extension on real estate matters so it can assess which stores will need to close. The camera supply and film processing stores operate 538 locations nationwide.

Scotty’s, Inc. (800-404-0982) will close twelve of its Bargain Outlet stores in FL and GA, including three Tampa, FL-area stores and two locations in Bradenton, FL.

G+G Retail (212-279-4961) anticipates closing 10 stores during fiscal 2002. The company closed four stores in the first three months of the year. The women’s apparel retailer closed 19 stores in fiscal 2001 and operates 574 stores nationwide under the brand names G+G, Rave Girl and Rave.

National Record Mart (412-276-6200) has closed 20 stores since the start of the year. The music retailer’s creditors have filed to push the company into chapter seven bankruptcy but the chain is trying to reach an agreement that will let it restructure. The company operates 131 stores under the names NRM Music, Waves Music, Music Oasis, Vibes Music and Music X.

Dekor (678-385-1500) will close its store at Arbor Place Mall in Douglas County, GA. The four-unit home decor chain will also delay its opening in Nashville, TN until after the first of the year. The Arbor Place store did not meet the company’s performance projections. The site is a former Upton store acquired in a portfolio deal with the store’s other three sites.

The Cooker Restaurant Corporation (561-615-6000) will close 12 units in FL, GA, KY, NC and TN. The company operates 50 Cooker Bar & Grille locations nationwide.

Rite Aid (717-761-2633) will close six Roanoke, VA-area locations. The chain’s Salem store located at West Chestnut and West Main Streets may become a CVS Pharmacy. The other Roanoke locations to be closed are Orange Avenue, Peters Creek Road, 13th Street, Brandon Avenue and Electric Road. The Hardy Road store in Vinton will also be closed.

D.I.Y. Home Warehouse, Inc. (216-328-5100) will voluntarily close its six remaining stores in northeast OH. The company will market the sublease, lease or redevelopment of its closed stores.

Noah’s New York Bagel Shop (303-568-8000) will close its 1,631 sq.ft. location at the Marina Pacifica Shopping Center in Long Beach, CA. The unit is closing because of problems with the tile floor in the space.

OfficeMax (216-471-6900) will close its 40,000 sq.ft. store at Wichita Mall in Wichita, KS. The closing is part of the company’s plan to shutter its 50 worst performing stores. The 365,000 sq.ft. center is owned by Simon Property Group and is without an anchor tenant.

Childtime Learning Centers, Inc. (248-476-3200) completed the closing of its Oxford Learning Centers of America and has identified 19 Childtime centers to be closed during fiscal 2002. The company operates 304 day-care centers nationwide.

Loews Cineplex Entertainment (212-833-6343) will close its 20-screen location in North Versailles, PA. The company received permission from the US Bankruptcy Court to void its unprofitable lease at the site located across from a Wal*Mart.

AMC Entertainment (816-221-4000) will close the Seminole Mall 8 at Seminole Mall in Tampa, FL. The landlord is in negotiations with Restaurant Entertainment Group to operate the theater. Similar deals are being considered for the Old Hyde Park 7 in Tampa, Tri-City 8 in Clearwater and the Tyrone Square 6 and Crossroads 8 in St. Petersburg, FL which AMC might close before the end of the summer.