Everything will depend on whether they can get an extension of their credit and possibly additional credit to tide them over. If they don't get the credit, Chapter 11 (bankruptcy) is probably the only way out.
More Quotes from Kurt Barnard:
What we are seeing is that consumers' cautious spending is now stretching to the low-priced discount stores as well as to the other stores. ... Today, saving money is chic. Bargain hunting is fashionable.Kurt Barnard
Discounters have captured the world, ... They discounters all did very, very well, but it also underscores once again that it is chic to hunt for bargains and it is chic to save, and that is what the American public wants today, and probably wants forever.
Kurt Barnard
Investors may appreciate the chance to look outside the tech sector. We think that retailers who are able to cater to the home will do very well, ... Since the middle of 1998, we have seen a switch. Suddenly people spend proportionately more money on things for the home - on home enhancement, we call it - than they do on apparel.
Kurt Barnard
Upscale stores have done very well because their customers have been fortunate to amass a bit of wealth, so they're not worried about their jobs. But people who live paycheck to paycheck have to be careful, and they look at the price tag before looking at the product.
Kurt Barnard
It was really the department store chains and the apparel retailers that took it on the chin with weak January sales results. But a couple of names in those two groups are guiding higher than expected, predicated on expectations of lower promotional activity going into spring.
Kurt Barnard
People are buying things they believe are essentially investments. They are buying homes and cars instead of buying jeans, shoes and toasters.
Kurt Barnard
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