Retailer Woes
March 6 - HHGregg, appliance and electronics retailer, filed for bankruptcy. On March 2, it announced that it would close 88 of its 220 stores, shutter three distribution centers, and shed 1,500 jobs.
March 6 - Gordmans department stores: "People familiar with the matter" told Bloomberg that Omaha-based Gordmans, with 99 stores in 22 states, is preparing to file for bankruptcy as early as this month.
March 3 - Neiman Marcus:sources told Reuters that the luxury retailer has hired investment bank Lazard to help restructuring nearly $5 billion in debt - though they claimed it is in no immediate risk of bankruptcy.
March 3 - Radio Shack "is preparing to file for bankruptcy" again, sources told Bloomberg, after having already filed in February 2015. It is now down to 1,500 stores and will likely close more.
March 1 - Payless Shoes, largest family footwear retailer in the US:Footwear News reported that "multiple new sources contacted FN alleging that their respective firms have not been paid since August for footwear and other products shipped to Payless, and that they have been forced to lay off several staff members as a result." Payless has been meeting with its lenders to discuss restructuring its debt and closing approximately 1,000 stores.
March 1, 2017 - BCBG, California-based fashion retailer, once with more than 570 boutiques globally, including 175 in the US, filed for bankruptcy. The filing showed that it started closing 120 of its stores in January.
February 6, 2017 - Eastern Outfitters, parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy.
January 17, 2017 - Limited storesfiled for bankruptcy.
January 16, 2017 - American Apparel, clothing manufacturer (manufacturing clothes in the US!) with 110 retail stores filed for bankruptcy the second time. Stores and manufacturing sites are being closed.
(http://www.businessinsider.com/brick-and-mortar-retail-is-only-going-to-get-worse-2017-3)
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The internet is killing them. Absolutely killing them.
