The retail real estate sector could be on the verge of a major upheaval, beyond the near steady stream of headlines about brick-and-mortar store closures and bankruptcies in recent weeks.
Steven Wybo doesn’t see much of a happy ending for the vast majority of brick-and-mortar retail stores. The senior managing partner in the Birmingham office of international turnaround and restructuring firm Conway MacKenzie Inc. says the impending demise of West Michigan-based retailers like MC Sports and Family Christian Stores is indicative of the trends impacting larger mall anchors. In particular, they bear too much fixed cost and have to contend with ever-changing consumer trends. Wybo spoke with MiBiz regarding recent closures and the very limited number of options he sees for retail.
GRAND RAPIDS — Two stalwart West Michigan retailers are closing up shop, opening up valuable real estate at a time when space is at a premium in the region.
Operations at Family Christian Stores will wind down over the next month, according to a state filing from the company.
GRAND RAPIDS — The announcement yesterday that Family Christian Stores plans to close all 240 of its stores in 36 states sent shockwaves through an already struggling industry.
Nearly two years after emerging from Chapter 11 bankruptcy, Family Christian Stores said today that it planned to cease all operations.
A year and a half after launching Railtown Brewing Co. in Dutton, Justin Buiter and Gim Lee realized their craft brewery needed to expand well ahead of schedule.