I think about the only time Obama has ever told the truth is when he said he was going to “fundamentally transform America”. Here is a list of giant business either going out of business or dealing with massive store closures putting 10s of thousands out of work.
#1 Sears lost 580 million dollars in the fourth quarter of 2015 alone, and they are scheduled to close at least 50 more “unprofitable stores” by the end of this year.
#2 It is being reported that Sports Authority will file for bankruptcy in March. Some news reports have indicated that around 200 stores may close, but at this point it is not known how many of their 450 stores will be able to stay open.
#3 For decades, Kohl’s has been growing aggressively, but now it plans to shutter18 stores in 2016.
#4 Target has just finished closing 13 stores in the United States.
#5 Best Buy closed 30 stores last year, and it says that more store closings are likely in the months to come.
#6 Office Depot plans to close a total of 400 stores by the end of 2016.
The next seven examples come from one of my previous articles…
#7 Wal-Mart is closing 269 stores, including 154 inside the United States.
#8 K-Mart is closing down more than two dozen stores over the next several months.
#9 J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.
#10 Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.
#11 The Gap is in the process of closing 175 stores in North America.
#12 Aeropostale is in the process of closing 84 stores all across America.
#13 Finish Line has announced that 150 stores will be shutting down over the next few years.
These store closings can be particularly cruel for small towns. Just consider the impact that Wal-Mart has had on the little town of Oriental, North Carolina…
Peddling fiction huh?
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