How to Prepare For an Upcoming Store Closure
If you work in retail and you’ve just discovered that your store is closing down, you need to make preparations to protect yourself. Don’t rely on your store management to take care of you. No one will look out for your interests like you can.
Decide If You Want to Relocate
If your store is the only one closing down among a chain of stores, the company may offer to relocate you to another store location. Think about this now and decide if you want to do that. Because when you’re sitting down with the management, you may have only minutes to let them know what you want to do.
File For Unemployment Right Away
Don’t wait until your last day to go to the unemployment office. The process can take weeks before you see your first benefit check, as soon as you know the store is closing, file your application for unemployment benefits. By the time the actual closure is final, your application can be already approved.
Stop Spending Extra Money Now
Store closures often bring on deep store discounts. Avoid the temptation to buy a lot of items you really don’t need, even if they are going for cheap. You may soon be facing unemployment, and you’ll need every dime you can save now from your few remaining paychecks to ensure you’re able to pay rent and other bills later on.
Cut Back on Bills Now
You can also protect your finances by getting rid of unnecessary bills now. Cancel entertainment and convenience subscriptions like meal deliveries, online streaming, etc. You’ll be glad you did later on when your bank balance starts to dwindle.
The good news is that a store closure won’t hurt your resume. It’s not your fault that your job ended, but be sure to protect yourself with these tips.