Some have been able to file for Chapter 11 and reorganize, while others have liquidated and closed stores for good.
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As Congress continues to kick the can on a second round of federal stimulus, national retail, recreation and restaurant franchises remain vulnerable to closures and liquidations (which is to say nothing of smaller, independently owned businesses). Lord & Taylor, Men’s Wearhouse and Jos. A Bank (the latter two owned by the same parent company, Tailored Brands) all filed for Chapter 11 bankrupty protection over the weekend. The three department stores join a list of major American chains across industries that were already teetering prior to the pandemic but have buckled amid stay-at-home orders and continued surges in coronavirus infection.
Below is a list, by sector, of noteworthy brick-and-mortar powerhouses that have been forced to reorder their finances, search for new ownership or liquidate some or all assets since March. (Click each brand’s hyperlink for more information.) We will update the list if needed.