Quote:
Originally Posted by Fbone
Unfortunately, the employees would have been laid off anyway. It just started early.
Another issue facing B&N (and other brick retailers) is the high cost of commercial leases. The latest B&N investor report said that most of their leases expire in 2 years. I expect many closures with subsequent layoffs. Maybe, they will then lose their big store for smaller ones.
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And without warning.
Just like at Circuit City, they showed up for work and were told they were fired effective today. They do get severance pay which would not be assured under bankruptcy.
The employees might yet get the last (bitter) laugh. Still no fun.