The Bottom Line
Retailers Sharper Image and Lillian Vernon filed for bankruptcy protection, and analysts say thatâ€™s just the tip of the iceberg.
Retailers Sharper Image and Lillian Vernon filed for bankruptcy protection, and analysts say that’s just the tip of the iceberg. Weak holiday sales and a broader drop in consumer spending have prompted other retailers to cut staff and close stores. “You’ll see a record number of bankruptcies over the next 50, 100, and 1,000 days,” said Burt P. Flickinger III at retail consulting firm Strategic Resource Group. “Consumers are cash and credit constrained. They’re out of purchasing power.” (AP in Los Angeles Times)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
MOST POPULAR ON THE WEEK
- The mystery behind China's aggressive push into space
- What would a U.S.-Russia war look like?
- Here's the schedule very successful people follow every day
- Why Texas' abortion rates aren't falling as quickly as everyone expected
- Yes, Republicans can impeach President Obama
- 7 grammar rules you really should pay attention to
- What religious traditionalists can teach us about sex
- Why all drugs should be legal. (Yes, even heroin.)
- The 6 best low-cost smartphones
- The 5 best and worst states for a well-lived life
Subscribe to the Week