Retail defaults are at an all-time high — here are all the bankruptcies and liquidations so far in 2018
AP/Charles Krupa
- Retailers are filing for bankruptcy at record-high rates.
- Nine West, Claire's, and The Bon-Ton Stores are among the companies that have filed for bankruptcy so far this year.
Retailers are filing for bankruptcy at record-high rates as Americans' changing shopping habits, along with years of overly aggressive store growth, continue to shake up the industry.
A total of 12 US retailers have filed for bankruptcy or announced liquidations so far in 2018.
Here's the retail carnage so far this year:
Nine West
AP
Nine West Holdings filed for bankruptcy in April.
The women's clothing and footwear company said it filed for Chapter 11 bankruptcy protection to help facilitate the sale of its Nine West and Bandolino businesses. The company listed debts of more than $1 billion.
"This is the right step to address our two divergent business profiles," Nine West Holdings' CEO, Ralph Schipani, said in a statement. "Once we complete the reorganization process, our company will have meaningfully reduced debt and interest costs and be well positioned for the future."
Claire's
Business Insider/Mary Hanbury
The jewelry chain Claire's filed for bankruptcy in March. The company said plunging customer traffic to shopping malls led to its decline.
"The retail industry as a whole has been challenged by shifts in consumer purchasing preferences and habits," Claire's said in a bankruptcy filing.
The retailer plans to close 92 stores, most of which are located in malls.
The Walking Company
Facebook/The Walking Company
The shoe seller The Walking Company, which operates 208 stores in the US, filed for Chapter 11 bankruptcy protection in March.
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