Why Retail Bankruptcies Have Stopped Dead — For Now
To appreciate the turnaround the entire retail industry has made over the past year, consider the months of July and August. In 2020, over those two months, 11 major retailers filed for bankruptcy. Over the course of just seven days last July, five retailers went bankrupt (The Paper Store, RTW Retailwinds, Muji USA, Sur La Table and Brooks Brothers). During those same months this year, Retail Dive didn’t track a single major bankruptcy in the industry. At the same time, we counted more than 15 deals in retail during July and August — including initial public offerings, company sales, and other transactions. Even Guitar Center, which exited bankruptcy just last year, was reported by Debtwire to have filed confidentially for an IPO. Mattress Firm and Claire’s, two other Chapter 11 alumni, have also filed for IPOs. Read more at Retail Dive.
