Monday, January 2, 2017

A giant wave of store closures and more layoffs is about to hit Greensboro, North Carolina

Sears to lay off 325 workers in High Point 

3:46 PM - 17 Dec 2016

"...Nearly every major department store, including Macy's, Kohl's, Walmart, and Sears, have collectively closed hundreds of stores over the last couple years to try and stem losses from unprofitable stores and the rise of ecommerce.

Miller in Eden


But the closures are far from over.

"As leases come up, you're going to see a gradual rotation into smaller-footprint stores...

Despite recent closures, the US is still oversaturated with stores.


The US has 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia — the next two countries with the highest retail space per capita...

Greensboro has too many developed commercial retail properties

"Across retail overall the US has too much space and too many shops," said Neil Saunders, CEO of the retail consulting firm Conlumino. "As shopping patterns have changed, some of those shops are also in the wrong place and are of the wrong size or configuration."

Greensboro has too many restaurants

As stores continue to close, many shopping malls will be forced to shut down as well."...

Prepare to lose the mall across from Koury,
and the jobs of those who work there
Jim Melvin's Megasite bile; "GM to idle 5 plants in January as car supply swells"

Volvo Trucks announced its intention to lay off 500 workers, 
comprising the entire second shift, at its Dublin, Virginia plant. 

The layoffs will take place in early February. 

The announcement comes on top of 300 layoffs in September and another 500 in February.

December 17, 2016