Credit analysts say a number of well-known stores, laden with debt, are looking wobbly.
Moody’s analysts say that more retail chains could default on their debt or even go out of business in 2019 as they are overloaded with debt and struggling to secure backing from investors. The brick and mortar stores are negatively affected by consumer shifts to online sales — losing business to Amazon, Costco, Target and Walmart store that have a large online presence.
TROUBLE …
J. Crew — $1.7 billion debt
Neiman Marcus — $4.6 billion debt
PetSmart — $8.1 billion debt
Charlotte Russe, Gymboree and Payless have already filed for bankruptcy in 2019.
More recent troubles retailers …
Sears
Toys R Us
J.C. Penney
Claire’s stores
Bon-Ton
Bi-Lo (parent company of Winn-Dixie grocery store chain)
Barnes & Noble
Charming Charlie
Nine West
GNC (recent profits, but product line is vulnerable to online competitors)
Vitamin World
Destination XL
Perfumania
^^ MOBILE? USE VOICE MIC ^^
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