List Of Major Retailers Filing Bankruptcy Since The Coronavirus Pandemic Hit
They’ve been major players in the retail game, but could not brace the brunt of what the deadly coronavirus has brought. With much of the country shutting down to slow the spread of COVID-19, it’s meant no shopping in stores. And that has been a deadly blow to many companies, including the big ones who are now closing stores or filing bankruptcy.
Here’s a list of companies:
Dean & Deluca
The gourmet foods retailer filed for bankruptcy on March 31, one of the first businesses to show signs of trouble due to coronavirus impact.
FoodFirst, Bravo and Brio Restaurant Parent
FoodFirst Global Holdings is the parent company of restaurant chains Bravo Cucina Italiano and Brio Tuscan Grille. It filed for Chapter 11 bankruptcy in April.
Gold’s Gym
Gold’s Gym, which owns and operates over 700 gyms in the U.S. and internationally, filed for Chapter 11 bankruptcy earlier in May and hopes to be through the filing by Aug. 1, “if not sooner.”
Hertz
The Florida-based car rental company is doubtful it can continue as is and is preparing to negotiate with creditors as it deals with $17 billion in debt. Hertz has already laid off 10,000 people that have cost the company some $30 million.
J. Crew
The preppy retailer worn by celebrities and shoppers alike filed for bankruptcy on May 4.
JC Penney
The department store, which has recently rebranded, declared bankruptcy in May and plans to permanently close 242 of its stores.
Neiman Marcus
The 100-year old luxury department store has not managed to escape filing for Chapter 11 bankruptcy. It’s one of several traditional department stores that could be headed for trouble.
Pier 1 Imports
The home goods retailer actually filed for Chapter 11 bankruptcy in February and plans to start winding down the business as soon as possible. It was not successful in finding a buyer because of the impact of the coronavirus. Pier 1 operates more than 900 stores nationwide.
True Religion Apparel
True Religion, a clothing brand is known for its jeans, filed for Chapter 11 bankruptcy on April 13.
