Anchor’s Blue has announced it will file for bankruptcy. Instead of trying to reorganize, the company will simply close down and liquidate its assets to pay creditors as much as possible on its debts.

Growing up in California, one couldn’t help but run across a Miller’s Outpost. It was the store of choice for most teenagers and their parents. You could get rugged clothes that would last for at least a little while on a teen at prices that were very competitive. Eventually the name was changed to Anchor’s Blue, and everything has pretty much been downhill since then. 

Based in Corona, California, Anchor’s Blue has given up the ghost on its business efforts. The company will file to liquidate its assets, which includes the closure of its 117 retail stores. The decision is not much of a surprise since the company was in bankruptcy to reorganize as recently as 2009. 

So, what is the problem this time given that only a few years have passed since it exited bankruptcy? Well, apparently the end of the Great Recession hasn’t hit the malls yet. Just like most businesses and people on main street, the times are tough. Malls have been seeing reduced traffic and that is leading to a massive drop in revenues for stores in them. 

The failure of Anchor’s Blue is hardly unique. Many other retailers have already imploded and more are set to. This leads to further problems for commercial properties, which are suffering from massive rental shortages that are killing their revenues as well. After all, the second biggest mall owner has already headed into bankruptcy, so it is just a matter of time before we see more in this area bit the dust. 

The Great Recession might technically be over, but the practical impact is still brutal for most people and businesses. Anchor’s Blue is closing its doors, but it can hardly be said it is the only one to do so. Let’s hope things improve soon.