With crippling competition from Amazon and Walmart, struggling retail stores did not experience a healthy 2017. Fifty major chains went bankrupt, including iconic brands Toys “R” Us and Payless Shoes. That’s up from 47 filings in 2016 and 30 in 2014. So, what’s in store for 2018? These are the struggling retailers in grave danger of bankruptcy (including a 100-year-old department store on page 10), as well as the chains who have recently filed.
1. Land’s End
Land’s End suffers due to its former association with the beleaguered Sears — which spun off the company in 2013. While the catalog still sees strong sales, the waters were muddied under leadership of former CEO Federica Marchionni. She reintroduced the Canvas brand, which failed to resonate among core customers. The retailer is considered at risk of defaulting on a $498 million loan.
Next: A health store with unhealthy debt