It seems every day in the news we hear about a retailer that is closing some of it stores or going out of business completely.
I can remember 25 years ago when I was in high school there seemed to be a plethora of what seemed to be “old school” stores closing their doors.
So its not the end of the world or the domination of online retailers (though its hard to keep up with Amazon), its just the cycle of business.
I’ve worked at two stores that went through that, Montgomery Wards and Radio Shack.
I worked the jewelry counter (Gold N’ Gems), that July morning in 1997 when they announced they were seeking bankruptcy protection and people cam out like vultures seeking deals.
Remember this, usually the store hires a firm to handle their “going out of business sale”, so some of the best items never make it to that sale. Other items get larger discounts as the sale goes on and sometimes cheaper items are brought in for the sale.
I was at the Ultra Foods store location in Downers Grove/Woodridge that is closing last night and that used to be my favorite store. So it was easy to get sentimental and want to buy a bunch of stuff but be smart (especially at a grocery store), with perishable and edible items.
Is this something you normally use?
Is this really a deal?
Do I really need this?
Remember this is not a charity sale, this is still a business trying to make money, even if its to pay off creditors, lawyers, etc.
Don’t end up with a bunch of stuff that will make you bankrupt.
I just heard Indianapolis based electronics retailer H.H. Gregg is going out of business. As someone who has been to Indy a bunch of times I was surprised by their rapid expansion a few years back. But they were a good store with good service and items. My stove came from there.
Think long and hard before making a major “big ticket” purchase from a store that won’t be around any longer to service and support it.
Make sure you get all the parts that come with the item and be willing to accept that this item comes at a discount for a reason.
I bought my refrigerator from a closing Sears Hardware location a few years ago. My father in law (Thanks Marty), went with me and we checked the unit out, took it home and we knew it was missing some parts but was still a good deal. Plus I really needed a new fridge, this was not a spur of the moment thing.
Family Christian Bookstores just closed up for good, I was able to make two good purchases there, first got a gift for my wife’s niece’s upcoming first communion. I didn’t buy anything else that trip, got a deal on it and left.
The second time (and they were closing in four days), I looked harder and got some things for my son, nothing extravagant, just toys, DVD’s and other things I thought he would enjoy.
You have to be careful at these sales, you may think about gifts for people, items friends might like but remember, these sales are final, no returns, exchanges none of that.
You bought it, you better like it and they people you shop for better like it too because its yours forever, unless you give it to Goodwill.
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