Home Expos Closing

Home Depot announced yesterday that it's upscale Home Expo stores will be closed across the country.

I am sad for all the people who will be losing their jobs.

Since Home Depot will still be around, customers should have no concern about their pending orders.

However, Home Expo is by far not the only entity on shaky ground in the current environment. We can expect to see lots of other retail outlets in the home improvement supplies business to go under in the coming months.

My advice to consumers looking to purchase products that require hefty down payments is to look before you leap. Question the financial stability of the companies where you plan to do business. Question pressure to buy today and prices that seem too good to be true. Better to go with a company that will still be there when your ordered products arrive than one that will take your deposit into bankruptcy.

Be careful too about contractors. Many of them will go under as well. You don't want to be the consumer that has your contractor fail on your job. Ask for bank references and check them.

Only the strong and savvy will survive this downturn. They will survive because they socked away a nest egg to help them through the bad times. Even credit lines that might have saved businesses have been cut off. Cash rules! Ask them to "Show you the money"!

Peggy