After nearly two months of negotiating with bondholders and years of declining sales, the ailing department store retailer went to court seeking bankruptcy protection Sunday.
Stein Mart is looking at its options in the wake of declining sales.
House of Fraser has confirmed it is seeking a reduction in some of its rents, prompting questions about the financial health of the department store chain. A spokeswoman for the retailer has said it has contacted some landlords asking for “their support” as it prepares to publish its Christmas trading performance
House of Fraser has seen ratings agency Moody’s downgrade its status to “very high credit risk” due to consistently weak performing sales.
Fashion retailer Urban Outfitters has revealed another year of declining sales as young shoppers increasingly turn away from the brand.
Massive debt, declining sales, shrinking customer base, cutthroat competition — it's a toxic recipe for retailers that has spelled doom for many and could send more household names into bankruptcy this year.