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Tracking Major Retailer Financial Pressures – Chapter 11 and Shuttered Stores


Retailer bankruptcies and store closings are a major issue for the global economy as the full impact of the Pandemic becomes known.  As well, the evolution of U.S. retailing continues propelled by consumer preferences for online sales as well as the massive economic event brought on by the COVID-19 Pandemic and the national civil protests over George Floyd’s death.   The financial pressure on retailers is obvious as scores of companies are taking the Chapter 11 bankruptcy route to gain time for weighing their respective options.


We’re now updating the listing as news comes in, adding more news on key shopping center and mall tenants and we’re also adding at-retail services business, fast food, and restaurant chains.  Industry experts believe retailer bankruptcies and store closings will continue throughout 2020, perhaps well into the next several years.


As an industry, this is not the first time we’ve seen major shifts in consumer preferences, overall economic factors, and in particular the retail product types that rise to favor.   The department store-anchored regional mall began its demise a decade ago.   The rise of retail power centers and the big box “category-killer” stores approach a decade before that was part of that cause.  280 Metro Center in Colma, California is credited as the world’s first power center, opening in 1986.   Decades earlier, the rise of the suburban shopping mall caused the demise of main street shopping – although many years later those same main streets were repurposed and revitalized as a next-generation form of shopping.  There are many more such examples;  consumers and their ever-evolving preferences make survival difficult for any retailer thinking their business approach has a long-term life cycle.


Our latest tracking is provided in the table below.  We welcome your suggestions and updates!



Retailer Bankruptcies and Store Closings

The Pandemic and ever-evolving consumer preferences is causing the industry to adapt or die.

2020 Retailer Financial Monitor – Store Closings & Chapter 11 Filings

RetailerSummary StatusBankruptcy Filing DateBankruptcy Year
24 Hour FitnessThe company plans to restructure, anticipates store closing, and expects to re-open a portion of its operated units. June 14, 20202020
A.C. MooreThis arts and crafts chain with more than 145 stores, is shutting down permanently in 2020.Permanent Closure2020
AldoThe UK arm of this Canadian retailer is placed into administration in the UK, in June. The Irish unit of Aldo is already in administration.May 20202020
Anchor BlueShuttered in 2011, after two bankruptcy filings20112011
Apex ParksOwns and operates 14 family entertainment and water parks in New Jersey, California, and Florida; files for Chapter 11 bankruptcy protection. Major investors in the company include Carlyle Group. The company intends to to be acquired by a lender group led by Cerberus Capital Management LP. April 8, 20202020
Art Van FurnitureThe company is closing all of its company-owned stores, and is now in bankruptcy protection.March 9, 20202020
Ascena Retail GroupParent company to Lane Bryant, Justice, Ann Taylor and Dress Barn,Watch List 2020
BarFly VenturesParent company to HopCat brewpubs.June 3, 20202020
Barneys New YorkBarneys actually filed before the 2020 crisis, but such a major brand being in difficulty is worth remembering. The iconic department store's closed its doors for good on February 23, 2020. The Barneys' name may live in as licensed (branded) merchandise at Saks Fifth Avenue stores Authentic Brands Group purchased Barney's in 2019 and is the licensor of the Barneys' brand.August 20192019
BealesThe UK department store chain had its start in 1881.20192019
Bed Bath & BeyondThe company plans up to 60 store closings in 2020, seeking to avoid bankruptcy.Watch List2020
Bertram BooksUK book wholesaler, went into administration in June 2020. The UK bookseller had started business in 1968 in a chicken shed. Based in Norwich.June 20202020
BoseThe audio equipment retailer plans to close all 199 stores including those in the U.S.2020
Brooks BrothersAuthentic Brands Group and Simon Property Group are interested in acquiring the clothing brand. Brooks Brothers is said to be eyeing a July 2020 Chapter 11 filing.2020
CEC EntertainmentParent company of Chuck E. Cheese restaurants files for bankruptcy, intends to keep operating.
The company is owned by equity firm Apollo Global Management.
June 24, 20202020
Chico'sThe retailer may close as many as 250 stores in 2020. Also operates Soma and White House Black Market stores.Watch List2020
Children's PlaceIn June 2020, The Children's Place announced it would be closing 300 of its 920 stores in North America.2020
Cirque du SoleilCirque du Soleil Entertainment Group files for bankruptcy protection in Canada. More than 3,500 employees will be layed off with just over 200 core employees remaining. Not exactly a retailer but we thought we'd mention it here.June 29, 20202020
CMX CinemasA chain of dine-in cinemas.April 25, 20202020
Dean & DelucaNew York City-based gourmet foods retailer.March 31, 20202020
Delia'sAfter shuttering, has been licensed by online fashion company Dolls Kill since 2018.20142014
Destination MaternityParent company to several retail brands. This retailer filed in late 2019, preceding the Coronavirus by a few months.October, 20192019
DieselFiled due to increasing losses at its 28 U..S. stores.March 20192019
Earth FareThe grocery store chain plans to close all stores.February 4, 20202020
ExpressBy 2022, the retailer plans to close 100 stores, about a quarter of its total units.2020
FairwayIn January announced that it was shuttering five of 14 locations.January 23, 20202020
FoodFirst Global Holdings Operater of Bravo Italian Mediterranean and Brio Italian Mediterranean restaurant chains. Recently closed 71 of 92 location.2020
Forever 21Authentic Brands Group acquired the retailer out of bankruptcy. At the time of filing for bankruptcy protection in September 2019, Forever 21 was operating in 40 countries and almost 350 stores. In June 2020, Authentic Brands Group announced an expansion deal for Mexico with IB Group.September, 20192019
Frank And OakE-commerce retail company turned brick-and-mortar, files for protection under Canada’s Bankruptcy and Insolvency Act. Modasuite Inc. is the company's legal name.June, 20202020
French ConnectionThe French retailer indicates it requires a cash injection in a matter of months. Also owns the Great Plains brand. Founded in 1972.Watch List2020
GameStopThe retailer is considered at risk by industry analysts, and may close as many as 320 stores in 2020.Watch List2020
GapThe retailer anticipates closing as many as 230 store closings this year, in a bid to avoid becoming another retailer bankruptcy.Watch List2020
Garden Fresh RestaurantsFiled Chapter 7; no intent to re-open.
Owner of Souplantation and Sweet Tomatoes buffet restaurants.
May 20202020
GNC Holdings, Inc.The retailer plans to close anywhere from 800 to 1,200 stores, due to the Pandemic but also due to consumers increasingly option for online buys versus in-store purchases.June 242020
Go OutdoorsUK company, entered into administration in June. A JD Sports company.June 20202020
Gold's GymThe company owns and operates more than 700 gyms in the U.S. and elsewhere;
files for Chapter 11 bankruptcy on May 4.
May 4, 20202020
Grupo Famsa SAMexican retailer filed for bankruptcy, a furniture and appliance dealer with stores in the U.S. and Mexico.June 25, 20202020
GuessThe company plans to close 100 stores in the U.S. and China2020
GymboreeThe company's 2nd bankruptcy.January 20192019
HallmarkStore closures are planned in 2020.2020
HertzFiles for bankruptcy protection on May 22, included here as a retailer bankruptcy although its services is more of an at-retail type - not quite the traditional retailer.May 22, 20202020
Intu Properties plcIntu "enters into administration." after seeking a standstill agreement with creditors regarding its debt repayment. Intu is the largest mall owner in the UK. June 26, 20202020
J. Crew GroupThe company also owns Madewell, a women’s clothing and accessory brand.May 4, 20202020
JCPenneyPenney announced that it would permanently close 242 stores as it filed for bankruptcy protection.May 15, 20202020
L BrandsDuring 2020, the company plans to close 238 Victoria's Secrets stores in the U.S., as well as 50 Bath & Body Works stores.2020
Laura AshleyUK fashion retailer is placed in administration in March, some operations expected to continue.March 20202020
Le Pain QuotidienFrench-inspired bakery and café chain. A sale to Aurify Brands is pending.May 27, 20202020
Lee LonglandsThe UK retailer entered into administration in June. The furniture retailer opened for business in 1902. HQ'd in Birmingham.June 20202020
Lucky's MarketThe regional grocer plans to close most stores in early 2020.January 27, 20202020
Macy'sThe company plans to operate at greater efficiency and profit through fewer bricks-and-mortar stores, and plans to close perhaps 125 stores over the next three years.2020
Modell's Sporting GoodsWith its March bankruptcy filing, the retailer indicated that it intended close all of its 153 stores.March 11, 20202020
Moonsoon AccessorizeJune 20202020
Neiman MarcusChapter 11 bankruptcy filing. Most of the retailer's Last Call (off-price) stores will be shuttered.May 7, 20202020
Noah's Event VenueThe Company closed its doors permanently in February 2020. Founded in 2003, Noah's Event Venue was an event venue for weddings, corporate functions, and special occasions. At their peak the company had over 39 locations across the U.S.May, 20192019
NordstromThe department store chain has announced the permanent closure of 19 stores.Watch List2020
Office DepotThe office supply and equipment retailer will close about 90 stores by year-end 2021. Per a May 15 article, the retailer may cut 13,100 jobs by 2023.2020
Olympia SportsThe retailer has been purchased by JackRabbit, and the plan is to close 76 Olympia stores.2020
Orchard Supply HardwareClosed by Lowe's in 2018.2018
PaylessThe company headed back in bankruptcy protecting after emerging from prior filing in 2017.February 20192019
Pier 1 ImportsSince the February 17 filing, Pier 1 has filed a motion to close all of its stores nationwide (5/19/2020)February 17, 20202020
QuizFashion group HQ'd in Glasgow (Scotland). Entered into administration in June.June 20202020
Rubie's Costume CompanyRubie’s files for Chapter 11 bankruptcy on April 30; claims to be the world’s largest designer and manufacturer of Halloween costumes.April 30, 20202020
Schurman Retail Group (SRG)Parent company to Papyrus stores, has announced all stores will be closed. This BK looks due to reasons other than Covad-19.January 24, 20202020
Sears HoldingSears parent company Transform Holdco will operate just 182 stores after more slated store closings. The parent company also plans Kmart store closings.20182018
Signet JewelersThe multi-concept operator which operates Kay Jewelers, Zales, Jared, and H. Samuel, plans to close 380 stores by year-end 2020.2020
SpicersThis UK office supplies wholesaler operating since 1985, has been liquidated.April 20202020
Sports AuthorityAcquired by Dick's Sporting Goods.20162016
Sports ChaletShuttered after filing bankruptcy, concluded store closings, and joined the list of retailer bankruptcies.20162016
Stage StoresStage operates more than 800 stores under several brands: Bealls, Goody's, Palais Royal, Gordman's and others. Chapter 11 filed on May 10.May 10, 20202020
Steamer TradingThis UK kitchen items store entered into administration in January. January 20202020
Sustainable Restaurant HoldingsParent company for seafood chains Bamboo Sushi and QuickFish. Is searching for a buyer.May 12, 20202020
Tailored BrandsParent company for Men's Wearhouse, Jos. A. Bank and K&G brands.Watch List2020
Things RememberedLargely a result of online competition in its product class.February 20192019
TooJay'sThe company accepted a PPP Loan so it appears it intends to continue to operate.April 20202020
Toys “R” Us20172017
True ReligionTR files for bankruptcy on April 13. The company also filed for bankruptcy in 2017.April 13, 20202020
Tuesday MorningDiscount home wares retailer; operates in 39 states.May 27, 20202020
Z GallerieAnother of the 2019 bankruptcy class, we included due to fond memories of this brand among the roster of so many destination retail centers.March 20192019
ZaraIn June 2020, Inditex announced that it will close as many as 1,200 Zara stores over the next two years.Watch List2020

Retail Tenant Store and Financial Difficulty Tracking, 2020

StoneCreek Partners, Retailer Database - Major Retailer Bankruptcies due to Covad-19 and other industry issues.

Retailer bankruptcies and store closings.


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