- We’re nearing the end of 2019, and the number of national retailers that have filed for bankruptcy since the beginning of the year only continues to grow.
- Not all of these companies will cease to exist – some are just looking to restructure.
- Check out which retailers have already filed for bankruptcy this year.
- Visit Business Insider’s homepage for more stories.
We’re nearing the end of 2019, and the number of major retailers filing for bankruptcy continues to grow.
Destination Maternity filed for Chapter 11 bankruptcy protection on Monday, coming on the heels of several other retailers that already filed earlier this year, including Gymboree and Diesel. Some of these bankruptcies will allow companies to restructure and reenter the fray. Others, like Payless and Charlotte Russe, will shut down entirely.
Unfortunately, this means that thousands of stores will shutter and thousands of employees will lose their jobs. And, given that there are less than three months left in the year, it’s possible there will be even more bankruptcies to come in 2019.
Here’s a list of the retail companies that have filed for bankruptcy so far:
Beauty Brands filed for Chapter 11 bankruptcy on January 4.
Innovative Mattress Solutions
The Kentucky-based mattress company, which owns Mattress Warehouse, Mattress King, and Sleep Outfitters, filed for Chapter 11 bankruptcy on January 14.
This Wisconsin-based retailer filed for Chapter 11 bankruptcy on January 16. On March 19, CBS reported that Shopko’s 363 stores would close after the company failed to find a buyer.
Gymboree, a clothing company that also runs Janie & Jack and Crazy 8 stores, filed for bankruptcy on January 17. It is closing all of its more than 800 Gymboree and Crazy 8 stores.
FullBeauty Brands is a clothing retailer that filed for bankruptcy on February 4. The company exited bankruptcy within 24 hours.
This women’s clothing retailer filed for bankruptcy on February 4 and announced that it would closing all of its stores on March 6.
This personalised keepsake retailer filed for Chapter 11 bankruptcy on February 6.
Payless filed for bankruptcy on February 18. The shoe store will close all its remaining locations, aside from franchise stores.
Jeans company Diesel USA filed for bankruptcy on March 5.
The Los Angeles-based home furnishing retailer filed for Chapter 11 bankruptcy on March 11. It said it would seek to close 17 stores.
All US-based Roberto Cavalli stores have closed, and the retailer has filed for Chapter 7 bankruptcy, according to Retail Dive. The fashion company operates in North America as Art Fashion Corp.
Sushi-and-cocktails chain Kona Grill filed for bankruptcy on April 30, Restaurant Business reported. The restaurant shut down 15 of its locations.
The closures come amid Kona Grill’s legal battle against its former CEO, who is counter-suing the restaurant for unpaid severance.
The chain is being bought by another former CEO, Marcus Jundt,Nation’s Restaurant News reported.
Perkins & Marie Callender’s
Perkins & Marie Callender’s filed for bankruptcy on August 5, a day after closing 29 locations – 10 Perkins and 19 Marie Callender’s restaurants – in an attempt to restructure. The move will ultimately impact an estimated 1,190 employees, USA Today reported.
Barneys New York
Barneys New York filed for bankruptcy on August 6 and put itself up for sale as it attempts to refinance amid skyrocketing rents and dwindling foot traffic. The retailer has reached a tentative $US271 million agreement with Authentic Brands Group and investment firm B. Riley Financial, in which the Barneys brand would be licensed to Saks Fifth Avenue.
Fashion retailer A’gaci released a statement announcing the impending closure of its 54 locations in the US as part of its Chapter 11 bankruptcy filing.
“A’gaci shoppers will be surprised at the selection of highly desirable product in all 54 stores,” a spokesperson said in the statement.
Market Watch reported that Memphis-based retail chain Fred’s filed for Chapter 11 on September 9. The 72-year old company will shutter its remaining stores.
The Wall Street Journal reported that boozy candy store chain Sugarfina filed for Chapter 11 on September 6. The company is reportedly looking to sell its businesses and shut down at least six of its stores.
One-time fast fashion giant Forever 21 filed for Chapter 11 bankruptcy on September 29, Business Insider reported. The company reportedly plans to shutter 178 US locations and 350 stores globally.
Destination Maternity, the largest global retailer for maternity clothing, announced it had filed for bankruptcy on October 21. The company is in the process of trying to find a buyer in an attempt to restructure.
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