Retail

Struggling retailers rush to file for bankruptcy as fear of a second wave lingers

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A pedestrian wearing a protective mask walks near a temporarily closed New York & Co. store in Silver Spring, Maryland, U.S., on Friday, June 5, 2020.

Andrew Harrer | Bloomberg | Getty Images

Over a two-week span in early July, seven retailers, including The Paper Store, Brooks Brothers and Lucky Brand, filed for bankruptcy protection. 

J.Crew, Neiman Marcus and J.C. Penney and four other retailers had already filed in May. Lord & Taylor and the off-price shop Stein Mart led another wave that hit earlier this month. Some would say it has been a flood, but what’s coming could be a tsunami. 

For apparel companies and department store chains, which have been hit hard by the coronavirus…



Source cnbc.com

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