Although the economy was on a downward spiral when Obama took office almost eight years ago, his economic plan for recovery has been a failure, evidenced by the multitude of retailers who have closed up shop on his watch.
The newest victim of Obama’s experiment in free market-crushing economics is Sports Authority, which filed bankruptcy in March. The retailer, under the original filing, was to close 140 stores, keeping the rest open however they must now determining if the sale of their assets will result in the closure of all 450 stores.
As Truth and Action has reported on the closure of what is now hundreds of retail giants, the liberals firmly believe that Obama has stimulated a recovery.
Truth and Action has been following the economic collapse of retail stores across the nation, with a projected 6000 stores closing.
Major U.S. retailers have announced the closing of more than 6,000 stores from coast to coast. The list includes only those retailers which have announced plans to close more than 10 outlets this year and next.
For example, 1,784 Radio Shack stores are vanishing, 400 of the Office Depot/Office Max chain by 2016, and 340 Dollar Tree/Family Dollar stores.
Now, even through a reorganization plan, Sports Authority is “pursuing a sale of some or all of the business”, the company has stated. Read more on the following page, about the impending demise of a once profitable retailer.