The industry is approaching a record for filings this year, and others are still vulnerable as the economy, pandemic and retail evolution take their toll.
Retail bankruptcies may hit a painful high-water mark in 2020. Multiple analysts have noted filings are likely to reach their highest number in a decade. Some weeks during the summer brought multiple filings by major names in the industry.
In a kind of chorus, the cohort of filers have pointed to the tribulations brought by COVID-19 in explaining their predicaments, citing massive revenue drops from store closures, pressure from landlords, and white-hot cash burn.Retail Dive