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One more retailer that is having a hard time is in bankruptcy proceedings. Retailers that were already on shaky ground are having an almost impossible time getting credit these days, so there will be more where this came from. Personally I think that large ticket consumer items like appliances, furniture and electronics will be savaged fiercely over the next few months as consumers cut way back on large purchases and stick to the small stuff.

In fairness Levitz was having problems long before September/October when the credit problems magnified, but I’m sure the overall economy only exacerbated their problems. From a consumer’s standpoint there will be a ton of good deals so if you are in the market for furniture, there’s never been a better time to buy.

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