S&P: These Ten Retailers Will File For Bankruptcy Next
Three weeks ago, we reported that Fitch had put together a list of 8 retailers who were likely next in line to file for bankruptcy. The rating agency speculated that distressed legacy "bricks and mortar" outlets such as 99 Cents Only, rue 21, Gymboree and True Religion would follow what has already been a historic surge in retailers filing for Chapter 11 protection and/or shuttering stores. The Fitch list is below:
Sears Holdings Corp (roughly $2.5 billion); 99 Cents Only Stores LLC; Charming Charlie LLC; Gymboree Corp.; Nine West Holdings Inc.; NYDJ Apparel LLC; rue21, Inc.; and True Religion Apparel Inc.
Putting this list in context, over the weekend we presented a chart from Credit Suisse showing that on an annualized basis, some 8,640 - or more - stores would be closed in 2017, the highest number on record.
Brick-and-mortars better see the light, and soon. Example: In the past six months or so, while shopping at the outlets, I could immediately compare the exact same item on the 'Net. In just about every case I could find the item for less (shipping cost considered, too) at an online store. These shops will be the dial telephone of the very near future!
Brick-and-mortars better see the light, and soon.
ReplyDeleteExample: In the past six months or so, while shopping at the outlets, I could immediately compare the exact same item on the 'Net.
In just about every case I could find the item for less (shipping cost considered, too) at an online store.
These shops will be the dial telephone of the very near future!
They all will be fine ....just start over again on our TAB
ReplyDelete