{"id":1801755,"date":"2023-01-11T06:50:33","date_gmt":"2023-01-11T11:50:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801755"},"modified":"2023-01-11T06:52:17","modified_gmt":"2023-01-11T11:52:17","slug":"the-biggest-u-s-retail-bankruptcies-in-5-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-biggest-u-s-retail-bankruptcies-in-5-years\/","title":{"rendered":"The Biggest U.S. Retail Bankruptcies in 5 Years"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-biggest-u-s-retail-bankruptcies-in-5-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1801755&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>Below are the top 5 largest bankruptcies of the last five years, sorted by assets and liabilities as of the time they were filed:<\/p>\n<h3>Ascena Retail Group<\/h3>\n<p>Assets: $13.69 Billion<\/p>\n<p>Liabilities: $12.52 Billion<\/p>\n<p>Superstores: Over 2,800<\/p>\n<p>Ann Taylor, Lane Bryant, and Loft are the owners.https:\/\/www.theepochtimes.com\/t-bankruptcy&#8221;>bankruptcy<\/a> protection in July 2020, then sold off its Justice children\u2019s apparel unit and closed all Catherines stores. After being purchased for $540 million in November 2019, the company now belongs to Premium Apparel LLC.<\/p>\n<h3>Sears Holdings Corp.<\/h3>\n<p>Assets: $7.26 Billion<\/p>\n<p>Liabilities: $19.99 billion<\/p>\n<p>About 700 stores<\/p>\n<p>Once the nation\u2019s largest retailer, the 125-year-old chain filed for bankruptcy in October 2018, following a decade of revenue declines, hundreds of store closures. It hadn&#8217;t made a profit in 10 years and was able to stay afloat thanks to the billions of dollar provided by Eddie Lampert, its billionaire CEO. It succumbed eventually to stiff competition from Walmart.<\/p>\n<h3>J.C. Penney<\/h3>\n<p>Assets: $7.99Billion<\/p>\n<p>Liabilities $7.16 billion<\/p>\n<p>Stores: 846<\/p>\n<p>After over a century of business, the department store chain filed bankruptcy protection in May 2020. The company was burdened by mounting debt.<\/p>\n<p>After months of bankruptcy proceedings, the company averted liquidation, after a U.S. judge ruled in November that year to let it continue under new owners\u2014Simon Property Group and Brookfield Asset Management\u2014in a bid to save over 60,000 jobs.<\/p>\n<h3>Toys \u201cR\u201d Use<\/h3>\n<p>Assets: $1-$10 Billion<\/p>\n<p>8.07 billion in liabilities<\/p>\n<p>More than 1,600 Stores<\/p>\n<p>Babies USA is the owner of Babies, America&#8217;s largest toy store chain \u201cR\u201d Us, a company with a $2.5 million debt pile, filed for bankruptcy protection in the latter part of 2017. The bankruptcy of the company was the worst U.S. retailer failure since Kmart in 2002.<\/p>\n<h3>Neiman Marcus<\/h3>\n<p>Assets: $7.55Billion<\/p>\n<p>Liabilities: $6.79 Billion<\/p>\n<p>Close to 70 stores<\/p>\n<p>After a private equity takeover, the U.S. luxury department stores chain was encumbered with debt and filed for bankruptcy protection in May 2020. The nearly 113-year old chain\u2019s CEO blamed the \u201cunprecedented disruption\u201d The pandemic caused the following.<\/p>\n<p>After restructuring, which eliminated more than $4B of debt, it emerged from bankruptcy several months later.<\/p>\n<h3>J. Crew Group Inc.<\/h3>\n<p>Assets: $1.59 Billion<\/p>\n<p>Liabilities: 2.95 billion<\/p>\n<p>Stores: 491<\/p>\n<p>Chinos Holdings (parent of the apparel company) filed for bankruptcy protection in May 2020. The plan was to eliminate $1.65billion of debt and give ownership to lenders. J Crew, a brand known for its fashionable, preppy clothes, which was loved by Michelle Obama, was the first retail victim of the pandemic. It quickly emerged from bankruptcy, retaining a large portion of its stores and receiving $400 million in financial aid.<\/p>\n<h3>Brands that are unique<\/h3>\n<p>Assets: $2.48 Billion<\/p>\n<p>Liabilities: $2.84 Billion<\/p>\n<p>Stores: Over 1,400<\/p>\n<p>The owner of tuxedo and business suit chain Men\u2019s Wearhouse filed for bankruptcy in August 2020. After eliminating $686million of debt, the company emerged from bankruptcy on December 1, 2020.<\/p>\n<h3>Claire\u2019s Stores<\/h3>\n<p>Assets: $2 Billion<\/p>\n<p>Liabilities: $2.52 Billion<\/p>\n<p>There are approximately 1,600 stores. In March 2018, the jewelry retailer filed Chapter 11 after experiencing a dramatic drop in mall traffic due to shoppers shifting online. After eliminating $1.9 Billion in debt, the company filed for Chapter 11, which allowed it to go public. It was then backed by Goldman Sachs.<\/p>\n<h3>Nine West Holdings Inc.<\/h3>\n<p>Assets: $988 millions<\/p>\n<p>Liabilities: $1.94 Billion<\/p>\n<p>About 70 stores<\/p>\n<p>Online competition forced the U.S. fashion giant, Gloria Vanderbilt&#8217;s owner, to file for bankruptcy in April 2018. It emerged from bankruptcy only days after filing for bankruptcy under Premier Brands, a new name.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-reuters\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/reuters-logo-.jpg\" alt=\"Reuters\"   style=\"display:none\"><\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Below are the top 5 largest bankruptcies of the last five years, sorted by assets and liabilities as of the time they were filed: Ascena Retail Group Assets: $13.69 Billion Liabilities: $12.52 Billion Superstores: Over 2,800 Ann Taylor, Lane Bryant, and Loft are the owners.https:\/\/www.theepochtimes.com\/t-bankruptcy&#8221;>bankruptcy protection in July 2020, then sold off its Justice children\u2019s &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1695410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[8710,14352,5458,3819,6581,7238],"class_list":["post-1801755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-biggest","tag-bankruptcies","tag-bongino","tag-report","tag-retail","tag-u-s"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1801755"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1801755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1695410"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1801755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1801755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1801755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}