Which are the top 10 biggest retail bankruptcies this year?
As of November 2021, here are the top 10 biggest retail bankruptcies that have occurred this year:
1. Belk: Belk, the largest privately-owned department store chain in the United States, filed for Chapter 11 bankruptcy in February 2021.
2. Ascena Retail Group: Ascena, the parent company of clothing retailers such as Ann Taylor, LOFT, Lane Bryant, and Justice, filed for Chapter 11 bankruptcy in July 2020. The restructuring process continued into 2021.
3. Brooks Brothers: The iconic men’s clothing retailer Brooks Brothers filed for Chapter 11 bankruptcy protection in July 2020 and underwent restructuring in 2021.
4. J.C. Penney: J.C. Penney, a long-standing department store chain, filed for Chapter 11 bankruptcy in May 2020. The restructuring also extended into 2021.
5. Neiman Marcus Group: Neiman Marcus, a luxury department store chain, filed for Chapter 11 bankruptcy protection in May 2020 and emerged from bankruptcy in September 2020.
6. Pier 1 Imports: The home goods retailer Pier 1 Imports filed for Chapter 11 bankruptcy in February 2020. The company closed all its stores and ceased operations.
7. Stein Mart: Stein Mart, a discount department store chain, filed for Chapter 11 bankruptcy in August 2020 and ultimately closed all of its stores.
8. Stage Stores: Stage Stores, the parent company of department store chains such as Bealls, Goody’s, and Palais Royal, filed for Chapter 11 bankruptcy in May 2020. The company liquidated and closed all of its stores.
9. Lord & Taylor: Lord & Taylor, a historic department store chain, filed for Chapter 11 bankruptcy in August 2020. The company ultimately closed all of its stores and ceased operations.
10. Lucky Brand: The denim and apparel retailer Lucky Brand filed for Chapter 11 bankruptcy in July 2020 and underwent restructuring before being acquired by SPARC Group.
Please note that bankruptcy filings and restructuring processes may span across different years, but these cases had significant implications in 2021.
