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Post by pas2 on May 18, 2020 12:15:25 GMT
Cherished Treasures posted this video youtu.be/W7uS8mg0LBgEven though I have cut way back on my TM purchases I would really miss them if they closed. I will have to stock up on the things I always buy there, especially the bulk packs of cardstock, just in case. I use the thin white packs for so many things. |
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craftymom101
Pearl Clutcher
Posts: 3,611 
Member is Online
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Post by craftymom101 on May 18, 2020 12:20:51 GMT
Noooooooo! TM is where I buy 75% of my scrappy stash! I will be so sad if they close.  |
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Post by LisaDV on May 18, 2020 12:51:23 GMT
Weren't banks and lenders suppose to give forbearance during the COVID crisis??
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auntmimi
Full Member
Posts: 471
Jun 22, 2018 18:55:37 GMT
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Post by auntmimi on May 18, 2020 13:34:50 GMT
That would be a real shame, not just for scrapbookers, but anyone who needs discounted goods in this horrendous economy.
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Deleted
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Apr 29, 2024 16:21:26 GMT
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Post by Deleted on May 18, 2020 13:49:32 GMT
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scrapnnana
Drama Llama
Posts: 6,119
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Post by scrapnnana on May 18, 2020 14:37:16 GMT
This is sad news.
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Post by 950nancy on May 18, 2020 14:59:40 GMT
It could mean a lot of things. I will worry when they say they are closing. They certainly could, but right now so many businesses are in trouble that I can't see all of them closing. The fact that TM made so much money last year (a lot of it came from me) makes me wonder if they won't get money or support from another source.
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Post by scrapaddict702 on May 18, 2020 15:25:28 GMT
Weren't banks and lenders suppose to give forbearance during the COVID crisis?? I did some reading and wasn't able to find much about TM other than a finance/investment guy's take on their business. He said that they had ZERO debt as of 12/31/19 and they did what a lot of businesses did and that was take advantage of lines of credit while they were still available when the current position of the economy seemed inevitable...now that liquidity is an issue, lines of credit are drying up and banks are starting to ask for repayments. There isn't a lot available to even speculate exactly what TM has done with the cash, if anything, but there was speculation in the comments section and on the article itself that it could just be a strategy for the business and not necessarily a sign that they're going to go under. Fingers crossed it's just a strategy to maybe more easily shed under performing stores.
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Post by lostwithout2peas on May 18, 2020 16:00:07 GMT
😳 No! But I did notice when I went in once when they 1st opened like about 2-3 weeks ago and then again this weekend, that this usually big store that is always getting new scrapbooking stuff all the time seemed to have the same stuff. I thought maybe it was due to the pandemic but now with this info now has me thinking maybe it's cause of this reason. This would really suck if this happens!
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Post by 950nancy on May 18, 2020 21:58:32 GMT
😳 No! But I did notice when I went in once when they 1st opened like about 2-3 weeks ago and then again this weekend, that this usually big store that is always getting new scrapbooking stuff all the time seemed to have the same stuff. I thought maybe it was due to the pandemic but now with this info now has me thinking maybe it's cause of this reason. This would really suck if this happens! The manager at one of my stores said that this week's truck was what they should have gotten the second week in March. Everyone got one shipment in March before they halted the deliveries. So I think we are just two + months behind on what would normally be arriving. If you look at the stickers on the packages, I am guessing these will say 0320 for March 2020 and in a few weeks or so they will be saying 0620 and just skip 0420 and 0520 for most price tags. My south store said they are not expecting much at all for crafts (normal for them) and both of my north stores that got shipments today said they will be getting a lot of crafts. They just don't have enough people to unload the boxes. My stores are just getting their shipments in- not sure if your store has been open for a few weeks though. |
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Post by refugeepea on May 19, 2020 0:55:35 GMT
I don't have one that close to me, but I've found some really great deals when I go there.
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Post by hop2 on May 19, 2020 1:20:51 GMT
Non essential stores just opened today in my state for curbside pick up only. And I have no idea how one would curbside pick up at TM since they have no online platform. I have no idea what they have to ask for at curbside pick up
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Post by lostwithout2peas on May 19, 2020 2:20:41 GMT
😳 No! But I did notice when I went in once when they 1st opened like about 2-3 weeks ago and then again this weekend, that this usually big store that is always getting new scrapbooking stuff all the time seemed to have the same stuff. I thought maybe it was due to the pandemic but now with this info now has me thinking maybe it's cause of this reason. This would really suck if this happens! The manager at one of my stores said that this week's truck was what they should have gotten the second week in March. Everyone got one shipment in March before they halted the deliveries. So I think we are just two + months behind on what would normally be arriving. If you look at the stickers on the packages, I am guessing these will say 0320 for March 2020 and in a few weeks or so they will be saying 0620 and just skip 0420 and 0520 for most price tags. My south store said they are not expecting much at all for crafts (normal for them) and both of my north stores that got shipments today said they will be getting a lot of crafts. They just don't have enough people to unload the boxes. My stores are just getting their shipments in- not sure if your store has been open for a few weeks though. Well I will report back when I go again in a few weeks. I'm definently not going on a weekly basis like I used to unfortunately. |
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Deleted
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Apr 29, 2024 16:21:26 GMT
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Post by Deleted on May 19, 2020 8:12:35 GMT
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Post by jtmom on May 21, 2020 0:19:02 GMT
I really hope they don't go under. I love going there & the people at my store are so kind I would hate for them to lose their jobs permanently
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Post by 50offscrapper on May 21, 2020 1:31:21 GMT
The tariffs really impacted them. That is what I think hurt Pier 1. Tariffs and pandemic were double whammies.
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