With crippling competition from Amazon and Walmart, retail stores are struggling. Over 50 major chains went bankrupt last year, including Toys “R” Us and Payless Shoes. That’s up from 47 filings in 2016 and 30 in 2014. So, what’s in store for the future? The following retailers are in grave danger of bankruptcy. One famed 100-year-old will likely go bankrupt by the end of the year.
1. Land’s End
By the numbers: Land’s End is at risk of defaulting on a $498 million loan.
Land’s End is suffering due to its former association with the beleaguered Sears, which spun off the company in 2013. While the catalog still sees strong sales, former CEO Federica Marchionni led Land’s End astray. She reintroduced the Canvas brand, which failed to resonate among core customers.
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