Bankruptcies news and archive

Retailers added back over 250,000 jobs

In a small glimmer of hope for the U.S. economy, retailers have added back over 250,000 jobs last month compared with June to employ over 14 million people. The news was reported by WWD. While this indicates signs of improvement, this is still down 913,000 jobs from February. The total economy has added 1.8 million jobs, and unemploy is down...

ManagementFeaturedMember

2019 has left the U.S. with a record 9,300 stores closed

New York - Retailers announced more than 9,300 store closures this year, a 63 percent increase from 2018, when more than 5,700 stores closed. 2017 marked the previous store-closure record, with 8,000 shops closing for good. According to global retail advisory and research firm Coresight Research, a record number of retail stores closed in 2019,...

BusinessFeaturedMember

These are the companies downsizing or filing for bankruptcy in 2019

These are hard times for brick and mortar retail. While consumers still like to shop in brick and mortar stores, many retailers have been struggling to stay afloat due to dropping footfall in shopping malls and competition with online retailers. Here’s a recap of the fashion businesses which announced downsizing plans or filed for bankruptcy...