"Finally it’s had to file Chapter 11 bankruptcy October 2018, closing 142 stores in the process"
50 Failing Companies At Risk Of Going Out Of Business In 2019
1. J. Crew
The clothing company favored by former first lady Michelle Obama has
been closing some of its stores due to plunging sales over the years. It
also closed its bridal store and parted with its creative director,
Jenna Lyons, and CEO, Millard “Mickey” Drexler. Drexler confessed he
thought the company’s troubles stemmed from raising prices.
2. Sears Holdings
Sears Holdings has undergone trouble for a decade, with their sales
continuing to decline. It sounds like they’ve tried nearly everything —
cost cuts, asset sales, store closures, and layoffs — but RetailDive
says this hasn’t helped the giant department store out too much. Finally
it’s had to file Chapter 11 bankruptcy October 2018, closing 142 stores
in the process.
3. 99 Cents Only
The retailer offering discount goods has found itself between a rock
and a hard place, facing competition from companies like Dollar General,
Dollar Tree, and Walmart. In December 2017, the company reported a net
loss of $27.1 million on top of $33.6 million in losses the second
quarter and $8.8 million in Q1.
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BIG RETAIL COLLAPSING?
