Source: Mike Mozart
The Chapter 11s keep on coming... add another retail bankruptcy to an already active year. There are many more to come – 2017 should be a record year.
Bad news everybody, you can’t shop at BCBG anymore (no, not CBGB – the killer NYC Underground/Indie rock club). Fashion house BCBG Max Azria Group Inc. filed Chapter 11 yesterday – the company’s 3rd attempt to rescue the business in just the past 2 years.
BCBG closed 120 of its stores in January. At its peak, it operated 570 boutiques in approximately 45 countries worldwide – 175 of those in the U.S.
Don’t you love hearing management teams talk about “consumer shopping patterns are changing too quickly”? I’d turn it around…bad management teams with no vision or ability to execute are simply moving too slowly.
Other retail bankruptcies in 2017 so far include:
- Wet Seal
- Ben Hogan
- Eastern Outfitters (Bob’s Stores/Eastern Mountain Sports)
- Marbles: The Brain Store.
The chart below includes the assumption that Gander Mountain will file Chapter 11 – the company is rumored to be preparing to file for bankruptcy as early as this month.
