I was reading Trade Fax, one of our sister publications which is dedicated to bringing its readers the latest from the business side of the collectibles industry, and the news just keeps getting worse.

The top story this week was that BC Sports, one of the biggest sports collectible and licensed merchandise store chains in the country was closing the doors on all 50 of its retail shops. The industry has seen other stores clothes in the past few years but nothing even close to the impact of this latest set of closures. The company listed more than $10 million in debts and was forced to file for Chapter 11 bankruptcy protection.

Just when you think things couldn't get any worse, news like this surfaces and makes you wonder what will be next. I wish I had some positive news to help offset more of the doom and gloom but to be honest, I don't, and a I don't see anything in the near future either.

The economy seems to have stabilized somewhat but the repercussions from the recent "depression" have dug some major holes to dig out from and it will likely take several years, several record-setting athletes, and some very creative thinking to help usher some new life into an industry on life support. Back in the 1980s when people spent money quickly and thought about the impact of their impulse buys later, no one predicted a collapse such as this, but overproduction and oversaturation have sucked the life out of a once flourishing hobby and I'm not sure the necessary IVs exist to rejuvenate it.

Here's hoping things turnaround and quickly or all of us that love this hobby might end up drinking our sorrows away while we work on our new beer can collections. Anybody got that one-of-one 1979 Steel City can?