Major Retailers Still Risk Bankruptcy
While many retailers have tried consolidation, store closings and amped up online shopping experiences, the woes of retailers and risk of bankruptcy continues into 2017. Time published a list, from Moody's, of 22 retailers that fall into that category. Not surprising, J.Crew is on the list. Also on the list, luxury fashion retailer, Vince which had a first quarter drop in sales of 14% for 2017.
Neiman Marcus, the luxury retailer, puportedly being eyed by HBC, is also on the list. Should Neiman Marcus file for bankruptcy this could be a part of a larger strategy that will allow HBC to acquire Neiman Marcus without its enormous debt. However, it is implied Neiman Marcus' survival is far from certain. It appears department and speciality stores are expected to "continue to deteriorate".