Distressed Retail

  • A Rite Aid store location.
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    Courtesy of Amazon
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    The Weekly Closeout: JD Sports now ‘bigger than Foot Locker’ and is Rite Aid mulling another bankruptcy?

    JD Sports said it has more market share in North America than its rival retailer, while the drugstore is reportedly contemplating refiling. 

    By Retail Dive Staff • April 11, 2025
  • A person with white wired headphones and a white bag stands outside a clothing store.
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    Daphne Howland/Retail Dive
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    Column

    The Weekly Closeout: Hudson’s Bay hunts for a buyer and tariffs hit apparel hard

    The department store is soliciting offers for part or all of its business. Meanwhile, one analyst said new tariffs put “all 2025 guidance at risk.”

    By Retail Dive Staff • April 4, 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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    Hudson’s Bay to eliminate 200 corporate roles

    Impacted employees will have their last day on Friday, while the company restructures and undergoes store liquidations.

    By • April 1, 2025
  • A Container Store banner outside a store.
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    "Container Store" by colleen is licensed under CC BY-SA 2.0
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    The Container Store CEO Satish Malhotra is out

    The retailer begins its post-bankruptcy turnaround with much less debt, under leadership steeped in operations and transformation strategies.

    By • March 20, 2025
  • Going out of business signs in a store window.
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    Justin Sullivan via Getty Images
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    Forever 21 blames latest bankruptcy on competition from Temu, Shein

    The fast-fashion retailer made it through the pandemic but struggled against cheap duty-free goods from China, as inflation strained consumers.

    By • March 17, 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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    Hudson’s Bay plans to liquidate

    With no deal on deck, the iconic Canadian retailer will likely go out of business by June, shuttering all stores and laying off 9,000-plus employees.

    By Nate Delesline III • March 17, 2025
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    Courtesy of Solo Brands
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    Solo Brands warns it could file for bankruptcy

    The company issued a going concern statement citing challenges related to liquidity and existing debt.

    By Howard Ruben • March 14, 2025
  • Three hands holding three bright pink and red skincare bottles
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    Permission granted by Futurewise
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    Skin care brand Futurewise is shutting down

    The company, which entered Target just two years ago, will no longer accept orders on its website after March 24.

    By • March 11, 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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    Hudson’s Bay Co. cites Trump tariffs in bankruptcy filing

    The department store company, which also runs Saks Fifth Avenue and Saks Off 5th stores in Canada, will exit the process with a smaller footprint.

    By • March 10, 2025
  • A mall store.
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    "Forever 21 International Mall Miami" by Phillip Pessar is licensed under CC BY 2.0
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    Forever 21 will lay off nearly 700, close headquarters

    Nine stores in California and Pennsylvania will close, as Catalyst Brands, which owns the brand’s operations, explores its options.

    By • Updated March 3, 2025
  • Shoppers walk by boarded-up windows in front of a brick, Old Navy building.
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    Justin Sullivan via Getty Images
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    What 5 charts say about the pandemic’s impact on retail, 5 years later

    The industry may be far from the dramatic day-to-day struggles of 2020, but it hasn’t yet escaped the long tail the global health crisis left in its wake.

    By • March 3, 2025
  • A bright green facade says "Joann" in white capital letters, and "handmade happiness" in white script.
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    Courtesy of Joann
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    Joann shoppers to shift purchases to Michaels, Hobby Lobby

    The craft retailer’s store closures have left shoppers searching for alternatives, according to a Numerator survey.

    By Tatiana Walk-Morris • Feb. 27, 2025
  • Joann store.
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    Courtesy of Joann
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    Joann to be sold, all stores going out of business

    Pending court approval, GA Group and the company’s lenders are winding down the retailer’s operations.

    By Nate Delesline III • Feb. 24, 2025
  • A former Express apparel storefront in a mall is closed, with the gate down and windows covered.
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    Nate Delesline III/Retail Dive
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    Store closures outpace openings amid ‘historic shift’ to service-based tenants

    But the outlook isn’t all bad, as the real estate churn may open up 140 million square feet of retail space in a market where high quality storefronts are in short supply, a JLL report says.

    By Nate Delesline III • Feb. 21, 2025
  • Joann store.
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    Courtesy of Joann
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    Joann to close more than 500 stores

    The crafts retailer, which received no buyer interest in the locations, could liquidate entirely if a sale to Gordon Brothers comes to fruition.

    By Nate Delesline III • Feb. 13, 2025
  • A Party City storefront
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    Nate Delesline III/Retail Dive
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    Party City IP, wholesale operations to be acquired for $20M

    An affiliate of Ad Populum is buying the party retailer's IP, but Dollar Tree and Five Below emerged as top bidders for the company's store leases.

    By Nate Delesline III • Feb. 11, 2025
  • A daytime image of a Bargain Hunt storefront
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    Permission granted by Hilco
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    Bargain Hunt files Chapter 11 with plans to close all stores

    Losing a customer returns partnership with Amazon contributed to the company’s difficulties, along with annual losses and a competitive environment.

    By Nate Delesline III • Feb. 10, 2025
  • The exterior of a Billabong store.
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    The image by BrokenSphere is licensed under CC BY-SA 3.0
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    Liberated Brands files for Chapter 11 bankruptcy

    The move comes after the group lost part of its licensing agreement with Authentic Brands Group for the Boardriders portfolio, which includes brands such as Billabong and Roxy.

    By Laurel Deppen • Feb. 7, 2025
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: A new retail apocalypse?

    The team discusses a recent report that U.S. retailers are set to shutter many more stores than they plan to open in 2025 — and what that really means.

    By Retail Dive Staff • Jan. 30, 2025
  • Exterior shot of The Container Store.
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    Courtesy of The Container Store
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    The Container Store exits bankruptcy

    The retailer used Chapter 11 to shed nearly $88 million in debt and will go forward as a privately held company owned by its lenders.

    By Nate Delesline III • Jan. 29, 2025
  • On the brown tile floor of an indoor soccer pitch, a white scuffed up gear bag with the word PUMA sits behind a pair of blue and white soccer cleats. One cleat leans against a soccer ball.
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    Courtesy of Puma
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    Column

    The Weekly Closeout: Puma eyes ‘efficiency program,’ Adidas could cut jobs

    Puma wants to improve operations and cut costs in the name of profitability, while Adidas said its operating model is too complex.

    By Retail Dive Staff • Jan. 24, 2025
  • The storefront of Books Inc. in Alameda, California.
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    Permission granted by Books Inc.
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    Books Inc. files for Chapter 11

    The California-based retailer said the pandemic kicked off years of falling revenue and rising costs. It will close at least one store but stay in business.

    By Nate Delesline III • Jan. 23, 2025
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    Daphne Howland/Retail Dive
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    Joann files for bankruptcy for the second time in a year

    The crafts retailer was forced back into Chapter 11 by the wider retail environment and its own financial and inventory woes, the company said.

    By • Jan. 15, 2025
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    Yujin Kim/Retail Dive
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    These retailers could file for bankruptcy in 2025

    From At Home to Guitar Center, here’s who’s most at risk in the year ahead.

    By • Updated Jan. 18, 2025
  • A photo of a Big Lots storefront.
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    Permission granted by Big Lots
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    Column

    The Weekly Closeout: Ulta’s future and Big Lots’ store-saving deal

    The beauty retailer named a new CEO while Big Lots closed on a sale agreement that will enable it to keep hundreds of stores open.

    By Retail Dive Staff • Jan. 10, 2025