Retailers have closed hundreds of stores, filed for bankruptcy protection, and reorganized massive debt loads throughout 2017.
Companies like The Limited and Gander Mountain announced this year that they would file bankruptcy — shuttering stores and laying off thousands of workers. Some of the companies to announce bankruptcies this year include:
1. The Limited
The women’s clothing store announced in early January that it would close all brick-and-mortar stores, and later its parent company filed for bankruptcy. The parent company of women’s clothing store The Limited filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Court, and the store website has been taken offline.
Children’s clothing retailer Gymboree Corp. filed for Chapter 11 bankruptcy protection in June, the latest sign of traditional retailers’ struggles as shoppers shun stores and buy online. The San Francisco-based company says it is seeking to reduce its debt by $900 million. It expects to operate its business and majority of its 1,300 stores during the restructuring.
The company, which owns BCBGMAXAZRIA, said in March it filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company obtained a commitment of $45 million from loan lenders in new financing and filed its plan of reorganization.