More than a dozen retailers—including major department store chains, mattress sellers and shoe companies—filed for bankruptcy protection in 2018.
The pace of closures, CNBC reports, slowed from 2017, when more than 20 retailers, including Toys R Us, Hhgregg and Gymboree, went bust. Still, the filings and resulting store closures are painful for the employees and mall owners who find themselves dealing with the aftermath.
The biggest bankruptcy of 2018 was Sears, a 125-year-old business that was once the largest retailer in the U.S. The fate of the one-time retail behemoth is uncertain heading into 2019, as the company’s chairman, Eddie Lampert, is trying to buy back Sears’ remaining stores and prevent them from going dark altogether. David’s Bridal, Sears, Mattress Firm, National Stores, Brookstone, Rockport, Nine West, Claire’s, A’gaci, The Walking Company, Bon-Ton Stores, Kiko USA and Gumps went bankrupt in 2018.
A list compiled by Moody’s shows retailers that could be forced to file for bankruptcy in the new year includes J.Crew, Neiman Marcus and Toms Shoes. Read the full story.