Retail chains filing for bankruptcy protection in 2017
Toys R Us has filed for Chapter 11 bankruptcy protection, joining a growing list of companies struggling to navigate a retail landscape altered by technology and changing consumer tastes. There is even a new term that has emerged which points to the dire state of the industry: Chapter 22. Those are companies that have been forced to seek bankruptcy protection for a second time. Overall, 35 retailers have filed for bankruptcy so far this year, according to S&P Global Market Intelligence.
Following are some of the retailers that have sought bankruptcy protection just this year:
1.The Limited
2.Wet Seal(asterisk)
3.Eastern Outfitters
4.BCBG Max Azria
5.Vanity
6.Hhgregg
7.RadioShack(asterisk)
8.Gordmans
9.Gander Mountain
10.Payless ShoeSource(asterisk)
11.Rue21(asterisk)
12.Gymboree
13.Cornerstone Apparel, owner of Papaya Clothing
14.True Religion Apparel
15.Alfred Angelo
16.Perfumania
17.Vitamin World
18.Aerosoles
19.Toys R Us
(asterisk)Second bankruptcy protection filing by Wet Seal and RadioShack. Payless ShoeSource emerged from bankruptcy protection in August, while Rue21 received court approval to emerge from bankruptcy last week.