NEW YORK (AP) -- A weak holiday season and a struggling economy led retailers Sharper Image Corp. and Lillian Vernon Corp. to file for bankruptcy this week, and analysts predict others could soon follow them as consumer spending worsens.
"You'll see a record number of bankruptcies over the next 50, 100, and 1,000 days," said Burt P. Flickinger III, managing director of the New York-based retail consulting firm Strategic Resource Group. "Consumers are cash and credit constrained. They're out of purchasing power."
I understand Shaper Image's woes, Drugstore.com jumped into the fray and destroyed their "vibrator" business.
Lillian Vernon, however is another story. With products like the Bunny Face Tree Decorator shareholders should be rest assured and sit tight. These things are self-correcting.
Legitimizing Substance Abuse
Liquor firms to challenge work drink ban
OK. This is in China, but you know what happens after 50 monkeys start washing potatoes in the river... pretty soon they're all doing it.