Target to Close Nine Stores Across Four States Because of Theft and Crime
September 27th, 2023Via: Star Tribune:
Target Corp. will shutter nine stores across four states on Oct. 21 because of theft and threats to safety, the company announced Tuesday, the latest — and loudest —example of a retailer exiting urban locations because of crime.
Target said it made the “difficult decision” to close the stores — which include locations in the Harlem neighborhood of New York City, Seattle, Portland and the San Francisco Bay area — after the Minneapolis-based company determined that theft-preventive measures had proved ineffective. The company said it had tried adding more security, including third-party guards, and using deterrents such as locking up merchandise.
“We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests and contributing to unsustainable business performance,” the company said.
How were the stores doing financially before the organized looting? Was the merchandise insured? Does looting provide an alternative reason for store closing? Are force majeures triggered?
My take:
1. Don’t know. Am pretty sure that whomever own the stores and top management are well-off and only lesser employees and stockholders will suffer losses.
2. Don’t know. Must be easier to declare bankruptcy (right after you get your $ million Christmas bonus) if looted goods are a loss, not insured.
3. Yes.
4. When enough big chain stores close, yes, there will come a tipping point. The globalists move in limited increments, two steps forward, pause to assess the results, one step forward, pause, like the worms they are.
Could use some other opinions here, folks. Anybody want to propose that I’m wrong, they aren’t worms but snakes? 🙂