AM I NEXT? NO LOVE AT NORDSTROM (05/24/23)

Am I Next? Stonestown mall store closure — 230 layoffs.

MAY 24, 2023 — 300+ LAYOFFS IN SAN FRANCISCO, CALIFORNIA

The company is closing its two San Francisco, California retail outlets due to rising crime and economic uncertainty.

The closures will impact over 300 employees located in San Frisco.

SEPTEMBER 21, 2022 — 231 LAYOFFS IN CEDAR RAPIDS, IOWA

The company has announced that it will be laying off 231 employees at its Cedar Rapids, Iowa distribution center.

According to a company spokesperson, “We have made the difficult decision to reduce our workforce at our Midwest fulfillment center in order to better align with the current needs of our business. We recognize the impact these changes have on our team members and are committed to taking care of our people as we work through this transition.”

JULY 20, 2020 — COMPANY CONTINUES ITS MAJOR REDUCTION IN FORCE WITH 521 LAYOFFS IN SEATLE, WASHINTON

Nordstrom is continuing its fight for survival in response to severely reduced revenues caused by the COVID-19 pandemic.

According to published reports, the company is “realigning and reducing our workforce to support our market strategy.” It is estimated that 6,000 layoffs occurred nationally in June 2020. It is projected that the company would layoff 20% to 25% of its staff nationwide with counts ranging from 13,600 to 17,000 employees based on a 2019 employee count.

Of course, the company refuses to reveal actual counts and locations.

MAY 24, 2020 - NORDSTROM LAYS OFF 189 IN HAPPY VALLEY, OREGON AND CLOSES STORE.

The company has announced that 189 layoffs will affect employees at the Clackamas Town Center Nordstrom in Happy Valley, Oregon. The layoffs will commence June 1, 2020 and will continue until the store is scheduled to close on or around June 21, 2020.

According to a company spokesperson, “Because of the impacts of the COVID-19 crisis, we have been forced to take a critical look at the physical footprint of our stores and assess how we can respond to the new realities of today's business environment. To maximize our ability to continue serving customers well into the future, we made the decision to close this store.”

AUGUST 6, 2019 — Original Post…

Seattle, Washington-based Nordstrom, the luxury department store retailer with legendary customer service has announced the closure of its 100,000-square-foot store in the San Francisco Stonestown Galleria. The last day of business is scheduled for September 13, 2019. According to a WARN (Worker Adjustment and Retraining Notification) notice filed with the State of California, the closure is permanent and will affect 230 employees.

According to a company spokesperson, "We keep a close eye on the long-term performance of our stores, real estate agreements and the future needs of our business. We look at our business market-to-market to understand where we have opportunities to grow while also being as efficient as possible in serving our customers. Looking at our needs in the San Francisco market, we decided it made the most sense to close this store."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT BROOKSTONE

Am I Next? Brookstone files for bankruptcy. Closes 101 mall stores. 

Merrimack, New Hampshire-based Brookstone, a technology and travel gadget company owned by the Chinese conglomerate Sanpower Group, has filed for Chapter 11 bankruptcy and will be using liquidators to assist in the closing of its 101 mall stores, noting the severe decline in mall traffic and the purchase of specialty items such as those carried by Brookstone from online retailers. There will be a mass layoff of store personnel as well as employees deeper in the management and supply chain. 

The company will attempt the Chapter 11 restructuring to keep their airport, e-commerce, and wholesale channels as viable assets to be sold to an investor group. Some business analysts are also blaming management errors, logistics, and quality and technical problems. The management apparently lost some of its vendors by attempting to persuade them to transact business using the Yuan as a primary payment. 

It appears that the bankruptcy is to reduce costs to assist in the sale of the company that would now be unencumbered by claims relating to store leases and vendor obligations. This will be the second bankruptcy for Brookstone which wags are calling a Chapter 22 filing (A Chapter 11 Reorganization done twice.) The Sanpower Group bought Brookstone out of its 2014 bankruptcy. 

Brookstone CEO Piau Phang Foo applied the corporate spin noting, “Today we have taken several important steps to restructure the business and ensure that Brookstone will be well-positioned to succeed for years to come. The decision to close our mall stores was difficult, but ultimately provides an opportunity to maintain our well-respected brand and award-winning products while operating with a smaller physical footprint.” 

Are you wondering, Am I Next?