The Real Black Friday: Economy, bankruptcy & sales

By: Mark Chubb | Posted: November 27, 2008 | No Comments
Filed under: News

So what is the real Black Friday and could Black Friday be black for a totally different reason? Black Friday sales are hot at the moment and Friday November 28th and indeed Saturday November 29th are going to be very busy days for stores in the high street and even more so online.

Well a news article via Associated Press (AP) is very interesting indeed and will indeed get many of you thinking, as we all know Black Friday falls on the day after Thanksgiving which will officially start the holiday shopping period, the name “Black Friday” was given thanks to a major surge in shoppers helping stores break into high profits for the year.

This year has been pretty bad for the economy and the credit crunch has hit many companies badly even banks, this year we are seeing up to 70 percent off promotions for this coming Black Friday sale.

There are indeed many retailers struggling to keep afloat and some may even file for Chapter 11 bankruptcy protection after the holidays and this may happen if they do not hit sales targets. This year of 2008 seems to be the biggest yet when it comes to Black Friday sales and the surge of shoppers will be immense, many shoppers out there may not have a lot of money this year because of the crushing credit crunch and these sales are just what they need.

The question is “Will this year be worse than last year considering Americans just don’t have the money to spend?

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