Retailers Struggle to Avoid Bankruptcy

| Jul 15, 2019 | Business & Commercial Bankruptcy |

On line shopping and high rent costs, among other things has caused multiple retailers to seek protection in Chapter 11 bankruptcy or file Chapter 7 bankruptcy and close. Competition from on line sellers combined with high operating costs are the leading causes. It seems like another large retailer may soon be in bankruptcy. According to USA Today , the retailer Barney’s is considering filing a bankruptcy.  https://www.google.com/amp/s/amp.usatoday.co/amp/1728925001 The reasons given are pretty typical of the problems facing many retailers today. A combination of high rent and online competition. The final straw may have been a rent increase at the Madison Avenue location which according to USA Today went from$16 to $30 million in January. The impact on the Philadelphia Pennsylvania Barney’s is still unclear. Choices of retailers may soon be a thing of the past.

Archives