Business Closings

Blockbuster is looking lackluster. Facing increasing pressure from Redbox, Netflix Inc. and its own debt problems, the video rental giant is doubling the number of stores it is likely to close by the end of next year, the company revealed in a regulatory filing Tuesday. Struggling Blockbuster was previously aiming to shut 410 to 450 of its most unprofitable stores this year and next. A series of "accelerated closures" brings that target to 810 to 960. Blockbuster also said it might convert an additional 250 to 300 locations to outlets that focus on used DVDs.

Two years ago, Conde Nast's Vogue published its biggest issue, an advertising-packed behemoth that symbolized the prosperity of New York's glittering magazine industry as it rode the twin booms in the economy and luxury spending to dramatic heights. Generous expense accounts were de rigueur at glossy fashion and lifestyle magazines. Some top editors and publishers enjoyed clothing allowances and mortgage assistance. Even lowly assistants flitted about in chauffeur-driven town cars.

Harley-Davidson Inc. is engineering its own makeover, and some shocked fans and workers aren't pleased. In reporting an 84% drop in quarterly earnings, the Milwaukee manufacturer said Thursday that it is shutting down its longtime Buell product line and selling its MV Agusta business, an exclusive, high-end Italian brand it bought only last year. The company said it wants to focus on its core Harley brand. The decision to get out of sport bikes left a small but devoted ridership "kind of depressed," said Joe Frus, owner of the American Thunderbike Club, an online forum for Buell fans with 2,000 members.

For most retail stores, staying in business for only a few days would be considered a major flop. But a growing number of merchants are opening shops and abruptly shutting them down soon after -- on purpose. These quickie retail operations -- known as pop-ups -- are showing up throughout Southern California and around the nation, filling in the gaps at recession-battered shopping centers for a fraction of the regular rents. Once limited to seasonal shops and dusty liquidation centers, pop-up stores are now being opened by some of the nation's biggest retailers.

The hedge-fund firm at the center of the biggest insider-trading scandal to erupt on Wall Street in years is taking steps to close up shop. Galleon Group, founded by billionaire Raj Rajaratnam, who was arrested last week on suspicion of running a widespread insider-trading scheme, told investors and employees in a letter Wednesday that it planned to liquidate its hedge funds. The company also has been approached by outside parties interested in buying it, according to a person familiar with the matter.

Tenet Healthcare Corp. in Dallas said a subsidiary planned to close its hospital in Los Gatos, Calif., on April 10. Tenet, which is scheduled to close its Irvine hospital Thursday, said the announcement met California law requiring 90 days' notice to state and local authorities for closing Community Hospital of Los Gatos.

Rude Guerrilla Theatre Company has decided it would rather not spend the next eight months as a lame duck and will sing a swan song in March instead. After recently saying it would complete its 2009 season before splintering into two new stage companies, the Orange County theater group, which launched in 1997, will call it a day after its next round of two concurrently running plays. With the bad economy biting into attendance and donations and the lease running out next month on its 60-seat space in downtown Santa Ana, it made sense to shut down instead of carrying on with six more plays that had been scheduled through September, board member Sharyn Case said.

Wal-Mart Stores Inc. said it would close all six of its Sam's Club membership warehouse locations in Canada by the end of March. The Bentonville, Ark.-based discounter is shifting its focus in Canada to supercenters, which sell groceries and general merchandise, after the warehouse clubs failed to meet sales expectations, a spokesman said.

After almost 30 years as the preeminent gay, lesbian and transgendered bookstore in Los Angeles, a Different Light in West Hollywood will be closing its doors this spring. As far back as 2000, manager Brad Craft warned that the bookstore, which he called "the intellectual focus of our community," was struggling. This week, owner Bill Barker told Instinct magazine that business had been further impaired by construction on Santa Monica Boulevard and a fire that closed the bar next door.

In all-too-familiar news, another Los Angeles bookstore is shutting down: Giant Robot in Silver Lake will close its doors on March 28. Until then, its stock -- which includes toys, T-shirts and ephemera as well as books and periodicals -- is on sale, 20% off. Giant Robot has three other, larger stores -- in San Francisco, New York and West L.A. -- which will stay open. So will its West L.A. restaurant, gr/eats, and Giant Robot the magazine, now 15 years old. Publisher and co-founder Eric Nakamura explains on his blog that the closure was partly the result of the economic downturn but also the end of a sublease.