With lockdowns devastating retail and restaurants — many of which that were already in deep trouble, dozens declared bankruptcy this year.
True Religion: Temporary store closures and the work-from-home trend took its toll on the denim retailer. True Religion emerged from bankruptcy in October, and it managed to slashed its debt but closed dozens of locations.
Lucky Brand: The once-trendy denim company filed for bankruptcy, explaining in a release that the pandemic has “severely impacted sales across all channels.” Lucky Brand will immediately close 13 of its roughly 200 stores in North America, which are mostly in malls. It sold itself to SPARC Group, the owner of Nautica and Aéropostale, in August.
Francesca’s: Malls were dealt another blow with the bankruptcy of this woman’s boutique. Francesca’s is closing about a quarter of its 700 stores, and it’s using the bankruptcy to obtain new financing and a possible sale.
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