Toys “R” Us could file for federal bankruptcy protection this week according to Bloomberg. This could be the end for yet another retailer, although the type of bankruptcy they are expected to file is unclear. They could try to restructure their $400 million in debt instead, as according to CNBC, they have hired restructuring lawyers.
With Amazon, and other online retailers growing larger by the day, can the retail store market that we once knew be saved? Its likely way too late for the retail industry to get back to its glory days. If they don’t adapt to the ever changing shopping market, it will continue its decline. All is not lost however, as some retailers like Target are actually seeing a recent sales increase. A list of recent/scheduled major retail store closures:
Sears/Kmart: estimated 330
Ascena Retail Group (Ann Taylor, Loft, Dress Barn, Lane Bryant, Justice): 268
The Limited: 250
Gap/Banana Republic: 200
J.C. Penny: 138
Micheal Kors: 125