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Holiday Spending To Drop For First Time In Five Years, Survey Expects Holiday Spending To Drop For First Time In Five Years, Survey Expects
Holiday Spending To Drop For First Time In Five Years, Survey Expects Holiday shoppers are expected to spend less in 2025, marking the first decline since the COVID-19 pandemic, according to a new survey. PricewaterhouseCoopers released its 2025 Holiday Outlook on Wednesday, Sept. 3. The financial firm found that Americans plan to spend an average of $1,552 over the holidays, down 5% from 2024. Gift budgets are taking the biggest hit, dropping 11% to $721, as consumers pull back on shopping amid President Donald Trump's widespread tariffs. "People are going to keep shopping, but with continuing concerns about tariffs and elevated prices (especially on electr…

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by Chris Spiker
Business
Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing Stores Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing Stores
Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing Stores A popular home goods retailer is declaring bankruptcy, citing President Donald Trump’s sweeping tariffs and a significant drop in consumer spending. At Home has filed for Chapter 11 bankruptcy, the Dallas-area company announced on Monday, June 16. The retailer said it reached a deal with lenders to eliminate nearly $2 billion in debt and receive a $200 million capital infusion. The move will allow At Home to continue operating during the court-supervised restructuring process. "We are continuing to offer the home furnishing pairings that customers expect to find at our store…

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by Chris Spiker
Business
LL Flooring Files For Bankruptcy, Plans To Close 4 CT Stores LL Flooring Files For Bankruptcy, Plans To Close 4 CT Stores
LL Flooring Files For Bankruptcy, Plans To Close 4 CT Stores With some 300 stores nationally, the mega-floor retailer LL Flooring has filed for bankruptcy and announced it plans to close at least 90 stores, including four in Connecticut. According to a statement from LL Flooring, the stores being closed in Connecticut include Fairfield County in Norwalk and New Haven County in Milford, North Haven, and Waterbury. The business said the three remaining stores in Danbury, Waterford, and Harford will remain open. Charles Tyson, president and CEO of LL Flooring, said, “After comprehensive efforts to enhance our liquidity position in a challenging ma…

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by Kathy Reakes
News
Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say
Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say Federal authorities are sounding the alarm over scams that impersonate well-known businesses and government agencies.  In 2023, data from the Federal Trade Commission (FTC) alone show more than 330,000 reports of business impersonation scams and nearly 160,000 reports of government impersonation scams. That amounts to nearly half the frauds reported directly to the agency, the FTC said. Combined, reported losses to these impersonation scams topped $1.1 billion for the year, more than three times what consumers reported in 2020. Reports show an increasingly blurred line between busine…

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by Joe Lombardi