These 11 Retailers are on the brink of Bankruptcy
More bad news for retail as these 11 companies are on the verge of Bankruptcy according to this Money report.
Claire’s Stores: Known mostly as an accessory and apparel store for teens, struggling and closing stores for years, and engaged in debt restructuring talks over the course of several months last summer.
Fairway: The supermarket chain went public in 2013 and has expanded rapidly in recent years. But it has also struggled with debt, and filed for chapter 11 bankruptcy protection last spring. The company exited from bankruptcy a couple of months later, but apparently is not fully in the clear.
Gymboree: “The Gymboree Corporation’s high price perception has caused consumers to look elsewhere for children’s apparel,” a Fitch Ratings report declared a year ago. In November, the children’s apparel retailer was downgraded by Moody’s.
J. Crew: The preppy retailer has been in a slump for several years, and ended 2016 amid talks to restructure its $2 billion debt. The brand’s “high price perception, coupled with fashion misses, has created sharp traffic declines and aggressive markdowns necessary to clear excess inventory,” a Fitch Ratings report said of J. Crew.