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alstry (35.09)

Another Hunderd Stores

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August 15, 2008 – Comments (1)

Wilsons the Leather Experts, once a dominant retailer of leather clothing popular in the 1980s, has seen fashions and fortunes shift — as this closed store in Burnsville Center shows. On Tuesday, the chain sold most of its assets to a clothing company that will change its name and identity.

The chain's 100 remaining mall-based stores will close by the end of October, though some have already gone dark.

Now known as PreVu Inc., the Brooklyn Park-based specialty retail chain said it has been unable to obtain the capital or financing needed to continue its plan to turn its 100 mall stores into accessories boutiques.

http://www.startribune.com/business/26962679.html?elr=KArksUUUU

The chain had been in trouble for a while.....looks like financing dried up.

We know that Uno's and Perkins are facing finanicing issues.  We also know many banks are stressed and unable to make loans.  Further, many of our cities and states are running out of money.

Right now we are facing a banking crisis coupled with a most serious evaporation of revenues to our state and local governments.  Each time a business shuts down, so do sales taxes and income taxes from employees.

How do you run a country when little is coming in the way of taxes?????

1 Comments – Post Your Own

#1) On August 15, 2008 at 10:28 AM, griderX (96.67) wrote:

I remember buying my first leather jacket there in the 80's :)

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