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Published Monday, October 20, 2008 in Local
Linens 'n Things closing all stores
By Jeff Bishop
The Times-Herald
Drivers this weekend on Bullsboro Drive and the bypass at Newnan Crossing noted that in addition to the usual dancing pizza slices, realty jockeys, and roadside preachers, there were also walking advertisements for a 30 percent liquidation sale at the Newnan Linens 'n Things.
The Newnan store survived the first round of Linens 'n Things closings. But the big plan to restructure Linens 'n Things failed, and a plan to auction Linens 'n Things to someone who could keep it going also has failed.
Wednesday a Delaware bankruptcy court approved a chain-wide going-out-of-business sale. The company, which had 589 stores when it filed bankruptcy in May, is closing the 371 it has left, including the Newnan location.
It may soon have company. Word came Monday that Circuit City may soon be joining the cascade of business failures in the slumping economy. Shares of beleaguered electronics retailer Circuit City Stores Inc. rose Monday after a report said the chain may close at least 20 percent of its stores to shore up its finances and avoid filing for bankruptcy protection. There was no information on which stores might close. Newnan has a Circuit City store just east of Interstate 85, on Bullsboro Drive.
While the ax has been falling for months in the financial, homebuilding and auto industries -- where the current economic downturn started -- makers of everything from soft drinks to water filtration systems have unveiled rounds of job cuts in recent weeks as they brace for what could become a long and deep recession.
The situation is poised to worsen as the holidays approach as many businesses scrutinize budgets for the coming year. Christmas layoffs are common in tough times.
In anticipation of a weak holiday season, consumer electronics retailer Best Buy, which normally bulks up staffing for Christmas shopping, has announced plans to cut seasonal hiring by as many as 10,000 workers this year. Best Buy has a Newnan location at Ashley Park.
Last Tuesday, PepsiCo said it would cut 3,300 jobs, almost two percent of its work force, in a bid to cut costs.
A four-week moving average of new U.S. government jobless claims last week hit its highest point in seven years.
Some 47 percent polled last month by Workplace Options said news of the financial crisis made them fearful about job security, and 25 percent said they had begun scanning help-wanted ads or updating their resumes.
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You can't blame this store closing on Alcohol sales lol. This store to be always seemed a bit overpriced. I guess I will just have to find somewhere else to buy sheets. Also remember the store no longer accepts checks or coupons that were in this week's paper. So hopefully nobody else has to be disappointed like I was. That should make it clearer that they aren't going to honor coupons.
Posted by c at 9:28 AM
Jeff...what does Sunday alcohol sales have to do with stores like Linens and Things and K-Mart closing? If that were approved, it would be one of the worse things to happen to Coweta County. The cost to the county would far outweight any amount of reveune that it produced. That fact has been proven. And then, what about the cost to families? Obviously, you have never lived with an alcoholic.
Posted by Concerned Citizen at 8:29 AM
Riverdale - 'nuff said? Well, no. Given our location right off the interstate, our proximity to Atlanta and the airport, as well as our strides in infrastructure development, Newnan is well placed to bring the *right* development here. We need developers to think long term about the impact of their choices. I applaud Thomas Enterprises, who is (I believe) a Coweta resident, with the work he is doing at Ashley Park. His efforts WILL draw the right businesses AND customers, but only if those parties are not forced to drive past empty storefronts. I agree that we are saturated with Dollar Stores, Tanning Salons and Nail Places - this needs to stop now - but the failure of some of the big box stores is no fault of Coweta. LNT failed as a company, Chili's closed a number of stores, K-Mart was bankrupt, etc. All this is to say that we have little impact in influencing the life of the big boxes, but we do have the power to keep the mom-and-pop stores here. THAT should be our focus. Now, who wants to meet for a beer on Sunday? Oh, wait...
Posted by sdp at 7:52 AM
Heyy whats all the fuss? lets knock em all down and build the biggest pay as you pray Mosque in Georgia ! thats the way to go !
Posted by BrookfootBoner at 3:36 AM
Please stop building so many things in Newnan including more homes. There are enough houses and stores. Make use of these empty buildings like the old Kmart, Goody's and now Linen N Things!! I noticed a Belk is about to be built. Doesn't the store already have a great location by Walmart? Come on. We have a nice Italian restaurant, a Chili's and a TGIFridays that are now sitting as empty buildings. The City of Newnan needs to take notice and keep our city vibrant...not full of empty buildings just to build new ones.
Posted by Rita at 8:45 PM
Whoa! Jeff - I think you are confused about the sale of alcohol in the City of Newnan!! That issue has nothing to do with store closings. I'm more concerned about jobs and usage of existing space. I fail to see how allowing alcohol to be sold on Sunday will help our economy.
Posted by rocket at 7:17 PM
All of this is in the City of Newnan, Don't blame the commissioners. Call your City councilman. Blame it on the lack of Sunday alcohol sales.
Posted by Jeff at 3:52 PM
This is so sad to me, the economy is already bad as it is and now families are going to lose the little bit of income they have. This is not a good time of the year to lose your job. My heart goes out to all those that are losing their jobs.
Posted by Lloyd Fam. at 10:59 AM
I totally agree with 'rocket'! There are absolutely too many buildings sitting vacant. It is making our town look sad and run-down, not vibrant and alive. I don't care how many new and beautiful complexes you build, it doesn't make up for all the large, abandoned buildings and shopping centers we currently have. We need to make use of those and quit building, building, building. We need a moratorium on all these large building projects. Our town does not need more, more, more. We need to make what we already have look nice again. Our commissioners and other officials need to take a look around them and see what is happening to our county. It is not pretty! STOP THE BUILDING!
Posted by Teresa at 10:38 AM
Once again---a downsized economy will cause -businesses to fail, unemployment to rise, and buildings to Stand Empty. When will the greedy developers get it.??? Make use of what we have! We all need to recyle -- even developers. Use the empty buidings we already have to look at and stop building more until the economy can support it. How have we allowed more businesses build than the local demographics indicate that we can support. NO MORE CHICKEN- HAMBURGER- ELECTRONICS- GAS STATIONS - 'DISCOUNT? STORES' . NEWNAN WILL BE A TOWN OF EMPTY STORE FRONTS AFTER ALL THESE BUSINESSES MOVE ON TO GREENER PASTURES. STOP THE DEVELOPMENT - SUPPORT THE BUSINESSES THAT EXIST AND HELP THEM SO THEY WON'T HAVE TO MOVE ON.
Posted by rocket at 8:36 AM
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Blame
10/22/2008
Link To This Comment
The Commissioners are allowing building in a lot of places IN THE COUNTY that is outside the City of Newnan. Then, I agree, The City is also allowing a lot of building to go on that shouldn't, not while we have buildings sitting empty. I have no idea why Belk should be allowed to move again. This will be the second vacant building they have left behind. It is ridiculous. And, I am so sick of hearing about Sunday alcohol sales. Give me a break. The businesses that have closed have done so because they failed as a business as a whole, not because we would not let them sell alcohol in our city.
Posted by Teresa at 12:19 PM