Jacobson’s Going Out of Business

The retail world has lost another piece of its history with the recent liquidation of Jacobson Stores. After 134 years in business, the upscale Jackson, Mich.-based specialty retailer will soon be closing its doors for the last time. Jacobson's began conducting going-out-of-business sales at all of its 18 locations in late July. The sales include storewide discounts off the lowest ticket prices in all merchandise categories. The retailer said the sales would continue until all merchandise has been sold. Jacobson's decided to fold its operations after months of unsuccessfully trying to sell the company as a going concern. The specialty retail chain, which filed for Chapter 11 bankruptcy protection in January, had struggled with falling sales and mounting losses in recent years. In its most recent fiscal year ended Feb. 2, Jacobson's saw net sales plummet by 12.7% to $401.8 million.
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