As I listen to President Obama’s press conference and his pleas for passing the stimulus package, I read about another company closing its doors, or at least some of its doors. Although I have never shopped at Shabby Chic, I have heard about it and seen references in magazines to the style. The lady who owns it wrote in her blog that she has filed bankruptcy.
I think this is another company which did not plan nor see an end to the frivolous spending. Why did so many think we could just keep going the way we were? Without credit, Americans cannot afford the lifestyle to which they had become accustomed.