Performance Bicycle closing its stores
Within a week ago, motorists noticed a couple of guys pacing the side of the service road that leads to the intersection of U.S. 281 and Brook Hollow and holding signs that indicate a store closing sale for Performance Bicycle. What? The chain had just moved in to its new location in the Brook Hollow Shopping Center in April 2018.
Philadelphia-based Advanced Sports Enterprises that bought Performance about two years ago filed for Chapter 11 bankruptcy protection on 16 Nov. Store employees said that the Brook Hollow store will be closing sometime in February.
The retailing industry is undergoing a slew of changes as many consumers are buying online more now than ever. This led to less revenue for the brick and mortar stores such as the case with Sears. The grocery store industry will face changes as well as online shopping is ramping up for grocery buyers. Expect to see more store closings in the future.
This led to less advertising dollars for the media business which explains the reason that many newspapers and radio broadcasters are struggling to stay afloat. Meanwhile, the Internet, mobile devices, and satellites have given consumers more choices for entertainment; therefore, competition for market share had become more fierced. Today's radio stations are now automated—gone are the days of the live DJs who were famous for staging request lines. Expect to see additional radio stations especially the AM'ers go dark—the industry term of going out of business and signing off for the last time.
Bike shop closures is nothing new. Performance would become another bike shop to close down. There were others in the area that have either closed for good or taken alternate routes such as becoming mail order only or providing mechanical work.
—SRR News Services
More Articles | Go to Archives Page