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I read an article the other day that mentioned Michael's and now there's one out that mentions Oriental Trading may also be in trouble. Here is the link:
I live in the city as the home of Oriental Trading. I have a friend that works there. They have been working reduced hours and/or 4 day work weeks. They also layed off several employees before Christmas. The word is now that business is picking up and they may be going back to full work weeks.
I hope so because there are alot of people here that work there. I cant imagine the auto workers and what they must be going through.
Interesting that they lumped OT in with all those mall stores. I'm pretty sure they're just online. (If they're not, at which mall can I find them?)
We have stores here in Nebraska and Iowa. They are called Nobbies. They dont have the craft items just mainly party novelties and costumes. It is a fun place to visit!
Oh my, I sure hope not. I buy tons from them especially from their Scrapbooking catty. They have great prices. Stuff a little on the cheap side, but who cares! They work!
I read this article today. I hadn't previously heard about them having issues. I ordered a bunch of stuff from them for our wedding. Yes, some of it is cheap, but what I needed fit our budget.
I personally love their embellishments, flowers, brads, etc. They have tons of brads and embellishments to choose from, and I and my girlfriends place orders from them quite often. You can try going into www.orientaltrading.com and get on their mailing list. They sell all kinds of Fiskar items, paper and silk flowers, glittery brads of all designs, it's really fun to browse thru their items! They even sell ribbon. Have fun. Karen
The problem for the compaines listed with a reduced Moody's rating is that they have to pay more for credit and raising capitol will be a big issue for them. I hope OT makes it as I buy party stuff I can't get in town and some of their stamp/scrap stuff is ok especially when it's name brand stuff.
Love the brads and flowers I can get there. My girlfriends and I all get the email notices and coupons so when we get a free shipping notice we combine orders to get the free shipping or $10 off, what ever the current coupon is. Some of their stuff is kind cheap, and some is name brand. It all works.
I guess my reaction is "who isn't having financial trouble?" Everyone is struggling these days. Seems like just about everyone is cutting back. When favorite stores/companies start filing for bankruptcy then I will get more worried.
__________________ Martha
"When you recover or discover something that nourishes your soul and brings joy, care enough about yourself to make room for it in your life." Jean Shinoda Bolen
Oriental Trading in financial trouble?
