Soon You Too WILL UNDERSTAND CONCENTRIC CONTRACTION
When you cut off/cut back crediit to a credit dependent economy, and only bail out the banks.....it is not too long before cash flow EVAPORATES to ALL!!!!!!!
Fridley-based Home Valu Interiors said Monday it is closing all its stores and will spend the next several months liquidating its inventory.
The remodeling products retailer had nine stores in the Midwest until last month, when it closed or sold four outlets, including one in Inver Grove Heights. Its five remaining stores include outlets in Bloomington, Minnetonka and Fridley. Plans call for gathering all stores' inventory at the Fridley outlet for a liquidation sale, said Rudy Boschwitz, the businessman and former U.S. senator who founded the chain 46 years ago.
The chain, originally named Plywood Minnesota, changed its name to Home Valu in 1993.
In a statement, CEO Gerry Boschwitz blamed the company's financial problems on the depressed economy and housing market as well as the credit crisis.
"We simply didn't downsize fast enough to cut our overhead expenses," he said.
NOBODY WILL BEABLE TO DOWNSIZE FAST ENOUGH BECAUSE IT WILL BE IMPOSSIBLE TO SIMPLY MEET BASIC MONTHLY EXPENSES AS CASH FLOW EVAPORATES.