Struggling Retailers Rush To File For Bankruptcy As Fears Of A Second Wave Of Coronavirus Linger

Over a two-week span in early July, seven retailers, including The Paper Store, Brooks Brothers and Lucky Brand, filed for bankruptcy protection.  J.Crew, Neiman Marcus and J.C. Penney and four other retailers had already filed in May. Lord & Taylor and the off-price shop Stein Mart led another wave that hit earlier this month. Some would say it has been a flood, but what’s coming could be a tsunami. For apparel companies and department store chains, which have been hit hard by the coronavirus pandemic, the turmoil doesn’t appear to be slowing down anytime soon. Instead, industry executives and analysts predict another round of retail bankruptcies and liquidations could be coming if the predicted second wave of Covid-19 infections happens. Competitive pressures ahead of the holiday season could trigger a rush to bankruptcy court, they say. Read more at CNBC.