Distressed Retail

  • Rite Aid pharmacy store
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    The image by Rick Obst is licensed under CC BY 2.0
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    Rite Aid closes all stores

    When the drugstore retailer filed for bankruptcy in May, its second Chapter 11 in eight months, it was running about 1,275 locations.

    By • Oct. 6, 2025
  • Picture of an At Home storefront.
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    Permission granted by At Home Group
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    At Home set to emerge from bankruptcy with most of its stores

    The furniture retailer is axing almost $2 billion in debt and will be owned by a group of its lenders, according to a court-approved plan.

    By • Oct. 1, 2025
  • The banner above an entrance to a RadioShack store.
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    "radioshack" by Ryan McKnight is licensed under CC BY 2.0
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    SEC says former RadioShack buyer ran a Ponzi scheme, unprofitable brands

    The federal regulator alleged that REV’s co-founders misled investors about the profitability of its retail portfolio, which also included Stein Mart and Dress Barn, and misappropriated investor funds. 

    By • Sept. 26, 2025
  • An in-store display of "The Party Shop" inside Michaels
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    Courtesy of Michaels
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    Michaels rolls out party, knitting shops in wake of Joann and Party City bankruptcies

    The Knit & Sew space in stores, which comes about three months after the craft retailer acquired Joann’s IP, will feature co-branded signage.

    By Howard Ruben • Sept. 26, 2025
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    Daphne Howland/Retail Dive
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    Claire’s acquisition closes with plans for smaller store footprint

    Ames Watson wants to keep the piercing retailer's mall locations relevant through upgraded merchandising, piercing services and store concepts.

    By • Sept. 19, 2025
  • Header image for "Aeropostale, Forever 21 Owner Authentic Brands Exploring IPO"
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    Getty Images
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    Forever 21 may open stores in the US, after all

    Authentic Brands Group, which controls the fast-fashion brand’s IP, said it’s close to a deal. The brand management firm on Wednesday had announced e-commerce and wholesale partnerships.

    By • Sept. 19, 2025
  • Three teens standing on an outdoor track.
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    Courtesy of Authentic Brands Group
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    No US stores in Forever 21’s comeback plans

    The fast-fashion brand, whose U.S. operator went bankrupt this year, has inked three new partnerships for its e-commerce and wholesale businesses.

    By • Sept. 18, 2025
  • Sundance, Utah
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    The image by Raffi Asdourian is licensed under CC BY 2.0
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    Sundance retail in ‘final days,’ undergoes closing sales

    The company, previously known as Sundance Living, recently had an involuntary Chapter 7 bankruptcy petition filed by creditors.

    By • Sept. 11, 2025
  • The storefront of Books Inc. in Alameda, California.
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    Permission granted by Books Inc.
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    Barnes & Noble to acquire bankrupt Books Inc. for $3.25M

    The California-based book chain would maintain its independent fleet of nine stores and join Tattered Cover in Barnes & Noble’s portfolio.

    By • Sept. 8, 2025
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    Daphne Howland/Retail Dive
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    Claire’s scales back store closures to 300 following $140M buyout offer

    The bankrupt mall chain had moved to shutter 700 locations and was mulling the liquidation of its entire 1,500-store fleet in North America.

    By • Sept. 2, 2025
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: Bankruptcy court is in session

    Debtwire’s global head of legal, Sarah Foss, and Retail Dive Senior Reporter Daphne Howland discuss retailer bankruptcies – in 2025 and beyond.

    By Retail Dive Staff • Aug. 28, 2025
  • A blue Gabe's storefront entrance.
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    Courtesy of Gabe's
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    Regional off-pricer Gabe’s under new ownership, avoids bankruptcy

    A group of lenders has taken over the retailer, a deal with buy-in from vendors and landlords that has significantly reduced its debt.

    By • Aug. 26, 2025
  • A glowing white "claire's" sign in lowercase block letters adorns a mall store trimmed in purple and dark blue. Windows signs advertise hair and jewelry specials and ear pierciing.
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    Courtesy of Claire's
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    Claire’s strikes $140M private equity takeover deal, pauses store liquidations

    The bankrupt tween accessories retailer had plans to shutter at least 700 stores — possibly twice that — and now most will remain open.

    By • Aug. 20, 2025
  • A display of office products on a table inside of a Container Store.
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    Courtesy of The Container Store
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    As The Container Store cracks down, vendors wonder about its future

    Chief Commercial Officer Martin Schumacher recently told suppliers their margins have been “artificially high” and warned that “those days are over.”

    By • Aug. 14, 2025
  • The name "claire's" in lowercase block letters adorns the gray, corrugated-metal side as well as the slatted-wood front of a storefront overhang.
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    Daphne Howland/Retail Dive
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    Why Claire’s is closing 700 US stores, mulling liquidation

    If a buyer doesn’t come forward, and some analysts doubt any will, the retailer is prepared to wind down its operations in North America.

    By • Aug. 7, 2025
  • A 3-D art display of Hello Kitty atop a Claire's store for the character's 50th anniversary.
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    Courtesy of Claire's, Hello Kitty
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    Claire’s files Chapter 11 with 18 stores slated to close

    The retailer has struggled since its 2018 bankruptcy and isn’t well positioned for tariffs and other economic headwinds, analysts said.

    By • Aug. 6, 2025
  • An At Home storefront with a blue sky background
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    Permission granted by At Home
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    At Home store closures accelerate

    The home retailer is conducting closing sales at six new locations, building on the 26 first announced when it filed for bankruptcy in June. 

    By • Aug. 1, 2025
  • A Neiman Marcus department store, surrounded by trees.
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    Daphne Howland/Retail Dive
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    S&P Global Ratings downgrades Saks, warns latest financing deal is ‘tantamount to a default’

    Saks Global emphasized that there’s no default related to its new agreement with bondholders, calling the rating updates “common and expected with transactions like these.”

    By • July 9, 2025
  • The front of a fabric store.
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    Daphne Howland/Retail Dive
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    Joann supplier going out of business

    Design Group Americas, whose portfolio includes sewing pattern brands like McCall’s, Simplicity, Butterick and Vogue, was sold off in May for $1.

    By • July 7, 2025
  • An At Home storefront with a blue sky background
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    Permission granted by At Home
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    At Home blames bankruptcy on tariffs, consumer uncertainty

    The private equity-owned company’s latest Chapter 11 filing comes at an awkward time for a retailer dependent on holiday sales for 40% of its revenue.

    By • June 16, 2025
  • A grey Pet Supplies Plus storefront with white wording on it.
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    "Pet Supplies Plus, Rocky Hill, CT, 8/2014" by Mike Mozart is licensed under CC BY 2.0
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    Franchise Group exits Chapter 11

    The company leaves bankruptcy having sold The Vitamin Shoppe, shut down American Freight and restructured its remaining banners under a new entity.

    By Howard Ruben • June 11, 2025
  • White clouds streak a blue sky above a strip-center retail store.
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    Daphne Howland/Retail Dive
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    Joann’s future a mystery as Michaels snaps up IP, private labels

    The move comes amid growing interest in fabrics and sewing at Michaels, but it’s not clear what it means for the Joann brand.

    By • June 5, 2025
  • A Saks storefront in Chicago.
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    Kaarin Moore/Retail Dive
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    Saks Global rescues its holiday with $350M in new financing

    Without the infusion, the luxury department store company would struggle to pay vendors ahead of the critical season, analysts say.

    By • June 2, 2025
  • A department store at night.
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    "Lights out for Hudson's Bay" by bigfarmer8 is licensed under CC BY 2.0
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    Hudson’s Bay to lay off more than 9K employees by mid-June

    The move affects about 90% of the workforce, with just over 100 people staying on to help the iconic Canadian department store wind down.

    By • May 28, 2025
  • People walk around in front of Saks Fifth Avenue and Hudson's Bay department stores.
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    "Hudson's Bay" by Jeff Hitchcock is licensed under CC BY 2.0
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    Canadian mall developer snaps up more than 2 dozen Hudson’s Bay leases

    Ruby Liu plans to open "a new modern department store concept," though it’s unclear whether the stores can continue to operate under the iconic brand.

    By • May 27, 2025