Quote:
Originally Posted by Ken07AOVette
You don't seriously think they decided to close 2 weeks ago....
This was in the books for quite some time. Or should I say quiet some time.
Up the price offer a discount count the sheep coming through the door and show record profits while claiming huge losses at tax time with minimal staff. This is how the rich become super rich.
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Of course it was a planned closing but they had to keep the store running and stocked with most stuff until they actually called a closing date or they might as well quit ordering stuff 2 years ago. Corporate shutdowns that are not in foreclosure plan exit exit strategies months or even years in advance of the actual announcement. It allows them to market a closeout scheme, maximize whatever profits they can squeeze out before they turn out the lights. Does that make them evil? They're not doing anything illegal as far as I can tell. Do you think Zellers, The Bay, Eatons, K-mart, Target and hundreds of others over they years didn't do exactly what Wholesale is doing by stocking up on inventory to unload during their closeout 'sales'. It's a standard marketing strategy when putting these companies out to pasture.
At least they haven't asked for government bailouts.