Macy’s Bankruptcy 2009

We often throw around situations that mark the apocalypse – you know; when pigs fly, when hell freezes over, when Jon and Kate get back together…Well, it seems like the seemingly impossible might have happened.

Macy’s, the world’s largest department store, seems to be hurdling towards bankruptcy.

It certainly is not news that the economy has affected some of the largest, strongest companies across nearly every industry, especially retail, but for some time it seemed as if the worst had come.

Companies like Macy’s will now have to adjust to lower household incomes and for dips in household spending, which is expected to fall to 65-70 percent.

Other companies named likely to be at risk include Hertz, Goodyear, Sprint, and CBS. We hope the best for Macy’s, but $2.4 billion of maturing debt over the next five years will be very hard to overcome.

  • KTail

    wow this is huge news…. retail is changing forever. It seems in the coming years people are going to move away from traditional retail all together and move toward the Targets, Gilt Groupe’s and other options that exist.

    With that said, it’s really no big suprise, the overhead the a macy’s carries the antiquated process all factor in too

  • Amos F.

    Macy’s has destroyed the American department store concept by buying up every regional department store practically, and changing the name to macy’s and cheapening the quality of the merchandise into nothing but a glorified Wal-Mart. It ruined Marshall Field’s, a world-class department store. Read more at http://www.fieldsfanschicago.org

  • Nottrue.com

    This is not huge news guys, Elizabeth is obviously just blogging her opinion…..where are the facts/source of information?

  • Flip Ryder

    I have inside knowledge that Macy’s treats their employees like dirt, and couldn’t care less about their performance – only their expense to the company. Compare Macy’s to Norstrom’s and Costco’s employee policies and you will know one of the major causes of their problem. Employees are treated like the enemy.

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