When consumers have a hard time putting food on the table, it’s hard to consider buying furniture.
Conn is now bearing the brunt of this reality. They filed for Chapter 11 bankruptcy on July 23, 2024.
According to court documents, 559 stores will close. 310 of these locations are dealer-owned.
With them, they account for 3,800 jobs in 15 states.
These include Arizona, Alabama, Texas, Colorado, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee and Victoria. Guinea State.
You can think of this as another victory for the Biden economy.
You can also add this to the pile of closures happening across the retail industry, thanks in large part to “Bidenomics.” They join Big Lot, which just announced the closing of 149 stores.
Along with it came 60,000 Family Dollar stores, 300 CVS stores, 113 Foot Locker’s stores — and more, and probably more to come.
The average American cannot afford a new home, but they still want to decorate one. Those lucky enough to buy before “Bidenomics” swept the country are trying to avoid losing it to inflation and soaring debt.
Now, with Vice President Kamala Harris crowned by the left-wing elite to save America, according to the Democrats, we need only look at the Biden-Harris legacy so far for insight into what lies ahead.
No doubt more of the same. For that matter, it’s even worse.
Harris is a staunch advocate for the Green New Deal and Medicare for All, and will undoubtedly further pressure families to spend more of their tax dollars to support both.
The weakening of consumers will kill businesses. Then the Harris administration will kill consumers. Spins can only last so long.
This is an effective way to bring poverty and socialism through the door.
Some argue that these closures are good because smaller companies may be able to gain more customers, but this argument is difficult to sustain. Smaller stores are also feeling the weight of failed “Bidenomics.” They have less wiggle room to offer affordable items, so consumers simply don’t spend money. Suffice to say, when forced, they will rob Peter to pay Paul.
The loss of a total of 3,800 new jobs also means further strains on unemployment aid, affecting the health and well-being of the entire country. Multiply that by all the peeling stores at this point.
The tiniest glimmer of hope: These are more difficult things for the Biden/Harris administration heading into a tough presidential campaign.
We need to get this country back to work. This includes supporting business growth and stimulating consumerism.
“Made in America” needs to become mainstream again, just like Trump did during his last presidency.
This article originally appeared in Western Daily News.
