TrendWatch
Bankruptcies Rise, Retailers Fall

According to a New York Times report published in mid-April, The Bombay Company, Domain Home, Fortunoff, Harvey Electronics, Levitz, Lillian Vernon, The Sharper Image and Wickes are among eight retailers who have declared bankruptcy since last fall. Now we can add Linens-N-Things to that list, plus we’re seeing Home Depot, one of the industry’s “giants,” making headlines with their announcement of 15 store closures and a cancellation of 50 stores from their growth pipeline. It seems no one is safe from the current economic climate. Read more.

Optimizing the Business Performance of Fred’s

After conducting a detailed study of its operations over the last 10 quarters and finding that an upgrade in the company’s real estate program would improve core store performance, Fred’s has partnered with industry leaders RCS Real Estate Advisors to unlock the potential in their real estate portfolio.

RCS Real Estate Advisors will dispose of approximately 60 underperforming Fred’s locations as part of a detailed strategic plan to increase the company’s annual operating margin. For more information about Fred’s, contact Ivan L. Friedman, President and CEO.

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RCS Retained by The Sharper Image to dispose of 90 leases

When specialty retailer The Sharper Image was forced to file for Chapter 11, they enlisted the help of the industry’s most experienced professionals, RCS Real Estate Advisors, to exclusively develop a plan to benefit the Chapter 11 estate, and dispose of 90 nationwide mall and street-level leases that average 4,500 square feet each.

For more information about The Sharper Image, contact Spence J. Mehl, Senior Vice President or Warren Kiersh, Vice President.

Providing Lease Disposition Services to Friedman’s Jewelers

In the midst of the current economic downturn, specialty jewelry retailer Friedman’s Jewelers found themselves filing for protection under the US Bankruptcy laws and in need of a partner with a depth of expertise unmatched in the industry. They turned to the skilled specialists at RCS Real Estate Advisors to provide lease disposition services.

As exclusive real estate consultant to Friedman’s Jewelers, RCS Real Estate Advisors has implemented a disposition strategy that will ultimately result in complete liquidation of all 367 Friedman’s and Crescent Jewelers leases in order to benefit creditors of the Chapter 11 estates.

For more information about Friedman’s Jewelers, please contact Spence J. Mehl, Senior Vice President or Warren Kiersh, Vice President.