The retail industry is in the midst of a significant shake-up, with decades-old brands filing for bankruptcy or shutting down entirely.
Others even seek to reorganize to figure things out, as e-commerce continues to reshape the industry.
Some have filed for bankruptcy more than once, continued operating through the process or disappeared entirely.
Using those criteria, Retail Dive has gathered a list of major retailers that have filed for bankruptcy this year.
Sleep Number filed for bankruptcy on June 12 and completed a merger agreement with Sleep Country on July 18. The Canadian mattress company is purchasing Sleep Number for $702 million, including almost $530 million in cash.
Together, they are the second-largest sleep company in the world, the largest being Somnigroup International.
The company filed for bankruptcy on April 16 and went to court with a completed restructuring agreement that included an exit plan. QVC Group has since made it out of bankruptcy, and its debt has been reduced by over $5 billion.
As part of the restructuring, CEO David Rawlinson stepped down and was succeeded by Mike George as interim chief executive officer and board chair, and a new board of directors was appointed.
The entity that runs the company’s brick-and-mortar operations filed for Chapter 11 on Feb. 9 as stores were shutting down. The company, which is part of Catalyst Brands, licenses the Eddie Bauer brand from Authentic Brands Group.
The company started the year with 220 stores and let several leases expire in January, in addition to 175 stores that closed. In January, Authentic Brands Group shifted Eddie Bauer’s e-commerce and wholesale licenses to another company.
The company filed for Chapter 11 bankruptcy protection for the second time in less than 10 years. The retailer began the process of liquidating its stores the previous month. Its filing was due to a multitude of factors, including increased competition from e-commerce and poor investments in brands outside its core business.
Read on for more major retail brands.
