Big chains filed for bankruptcy and closed stores every week in July. Here are 9 of them

 

By CNN

via KTVZ (OR) - July 27, 2020

 

Coronavirus, massive amounts of debt and a shift in shopping habits created a lethal cocktail of bankruptcies and store closures in July.

 

So far this year, 21 private and public retailers have filed for Chapter 11 according to BankruptcyData.com. That’s more than double the number that filed for the same time period last year. In total, 20 retailers filed for bankruptcy protection in 2019.

 

“A retail sector already in upheaval in the face of changing consumer habits in 2019 is now additionally faced with a massive demand shock for which there is no cure,” said James Hammond, the CEO of New Generation Research.

 

“Storied names in the industry, some operating for over 100 years, like Brooks Brothers, have fallen,” he added. “Even the strong can’t survive. This is far from over.” (New Generation Research runs BankruptcyData.com.)

 

In July, well-known mall staples that filed for Chapter 11 included Lucky Brand, Brooks Brothers, Muji and Sur La Table. All of those stores, and others, announced significant store reductions amounting to more than 1,000 closures in the list below.

 

Here are some of the brands that announced closures and bankruptcies in July:

 

NPC International ...

 

Lucky Brand  ...

 

Brooks Brothers ...

 

Sur La Table ...

 

Muji ...

 

RTW Retailwinds ...

 

Heritage Brands ...

 

Tailored Brands ...

 

Ascena Retail Group ...

 

more, including links 

https://ktvz.com/money/2020/07/27/big-chains-filed-for-bankruptcy-and-closed-stores-every-week-in-july-here-are-9-of-them/