Apparel retail has been particularly hard hit, with The Limited, Wet Seal, BCBG Max Azria, and Vanity Shop of Grand Forks each seeking court protection in 2017. The latest victim was Payless Inc., which filed for bankruptcy April 4 and said it would shutter 400 stores.
Rue21 may be next. The embattled teen apparel chain is said to be filing for bankruptcy as soon as this month, according to people familiar with the matter. Or perhaps it will be Gymboree, which Bloomberg News reported is preparing to file for bankruptcy as a June 1 debt payment looms.
This article was provided by Bloomberg News.