The running list of 2020 retail bankruptcies
The following post will continue to be updated to reflect the current major retailers that have filed for bankruptcy protection in 2020. View this year’s bankruptcies.
Last year sent 17 major retailers into bankruptcy. For some — including Payless, Gymboree and Charming Charlie — it was their second trip to court. Bankruptcy also proved fatal for more retailers in 2019, as liquidations increased. In all, retailers closed more than 9,500 stores last year.
This year, retailers are facing even tougher challenges, as the coronavirus outbreak has caused most U.S. retail to temporarily shutter, keeping customers away, and forcing retailers to negotiate with landlords and suppliers to tackle unforeseen inventory and liquidity issues. On top of that, the forces that pushed dozens of retailers into bankruptcy over the last four years or so are still present.
This year started off with the parent of fine paper specialist Papyrus quietly going into liquidation before filing for bankruptcy, with home decor staple Pier 1 not far behind with its own, more uncertain, filing.
Here is a closer look at the major retail bankruptcies of 2020 so far.