From Business Insider:
Retail bankruptcies hit an all-time high in the first quarter of the year, according to Moody’s Investors Service. Sears, J.Crew, and Neiman Marcus are among the companies that could be next to default, according to S&P Global Ratings.
Retail bankruptcies hit an all-time high in the first quarter of the year, soaring past last year’s records, according to Moody’s Investor’s Service.
The fallout is far from over, however, with many more defaults expected for the remainder of 2018.
“We believe defaults in 2018 could match or exceed last year’s record level,” S&P Global Ratings analyst Robert Shulz wrote in a report that identified 20 retailers at risk of defaulting. Since publishing the report last month, two of the companies identified – the jewelry retailer Claire’s and grocery chain Bi-Lo – have filed for bankruptcy.
The pace of retail liquidations could also pick up this year, Shulz wrote.