2020 Will Rival 2010 In Retail Bankruptcies
This year is on track to rival 2010 in retail bankruptcies. In 2010 following the Financial Crisis, 48 retailers filed for bankruptcy, marking one of the most significant years for retail chapter 11 filings. 2020 could close the year exceeding that number, according to data from BDO United States. Year to date, retailers have filed 29 chapter 11 bankruptcies, with 11 of these filings occurring in July through mid-August. Retailers to file a bankruptcy during the summer include Pier 1, J. Crew, Neiman Marcus, Stage Stores, J.C. Penney, Tuesday Morning, GNC, Lucky Brand, RTW Retailwinds, Brooks Brothers, Ascena (which includes Ann Taylor, LOFT, Lane Bryant, Justice, Catherines), Le Tote (which includes Lord & Taylor), Tailored Brands (which includes Men’s Wearhouse, Jos. A. Bank, Moores Clothing, K&G) and Stein Mart. Read more at Globe St.
