Pandemic bankruptcies: A running list of retailers that have filed for Chapter 11

Here is a running tally of pandemic-era bankruptcy filings. This list will be updated.

Annual revenue: $2.5 billion in 2019

Number of stores: 492

Founded: 1947

On May 4, J. Crew, the clothing chain known for its preppy basics, became the first major U.S. retailer to file for Chapter 11 protection.

The 73-year-old New York-based company was struggling to stay relevant long before the outbreak forced it to temporarily shutter all 492 of its J. Crew and Madewell stores. Analysts say missteps, in both fashion and finance, have left the one-time mall darling with slipping sales and nearly $2 billion in debt. Though J. Crew has not announced any store closures, analysts warn that the financial fallout from the temporary closures and reduced sales will have a domino effect across the industry, permanently altering shopping malls across the country.

Annual revenue: $4.9 billion in 2018

Number of stores: 43

Founded: 1907

Neiman Marcus Group, the 113-year-old chain known for its high-end department stores, filed for bankruptcy on May 7.

The Dallas-based retailer has struggled to pay down $5 billion in debt, much of it from leveraged buyouts in 2005 and 2013. The pandemic has forced it to temporarily shutter all 43 of its stores and furlough most of its 14,000 workers. In addition to its namesake stores, it also owns Bergdorf Goodman, Horchow and Mytheresa.

The company said it is considering closing some locations but did not provide details. In a letter to customers, chief executive Geoffroy van Raemdonck stressed that the retailer is not liquidating.

Annual revenue: $1.58 billion in 2018

Number of stores: 738

Founded: 1988

Stage Stores, which operates hundreds of Palais Royal, Bealls and Goody’s department stores, filed for Chapter 11 bankruptcy on May 10.

The Houston-based company said it is searching for a buyer as it liquidate its stores. The retailer has 738 locations across half a dozen brands, including the off-price Gordmans chain and the Peebles and Stage department stores, in small towns and rural areas in 42 states.

Annual revenue: $12.02 billion in 2019

Number of stores: 850

Founded: 1902

Department store chain J.C. Penney filed for bankruptcy protection on May 15 and said it would permanently close some of its 850 locations.

The 118-year-old retailer was struggling long before the public health crisis forced it to temporarily shutter its stores and furlough the majority of its 90,000 employees. It has nearly $4 billion in debt and hasn’t turned a profit since 2010. Sales have fallen for four straight years as it struggled to win back longtime loyalists who have since gravitated to big box chains such as Target and Costco to outfit their families.

In its bankruptcy filing, J.C. Penney said it has both assets and liabilities between $1 billion and $10 billion, and it owes money to more than 100,000 creditors. It also said it would close some stores, but did not provide details on where or when.

Annual revenue: $1 billion in 2019

Number of stores: 687

Founded: 1974

Discount retailer Tuesday Morning filed for bankruptcy on May 27 and said it will shut 230 locations, roughly one-third of its store holdings, this summer, after the coronavirus outbreak disrupted sales.

In its bankruptcy filing, the Dallas-based home goods chain said it owed between $50 million and $100 million to as many as 5,000 creditors.

Analysts say the retailer has struggled to set itself apart from competitors such as HomeGoods, Ross Stores and Macy’s Backstage outlets, which have gained popularity in recent years. Tuesday Morning stores, they say, tend to be unorganized and overwhelming, with a mishmash of less-than-exciting inventory.

“Many stores are not so much an Aladdin’s cave of exciting treasures as a jumbled flea market of whatever buyers could seemingly get their hands on,” Neil Saunders, managing director of GlobalData Retail, wrote in a note to clients. “Putting together a range requires enormous skill and a certain degree of flair. In our view, Tuesday Morning lacks both.”

Annual revenue: $2.07 billion in 2019

Number of stores: 5,200 U.S. stores

Founded: 1935

Vitamin and nutrition chain GNC Holdings filed for Chapter 11 bankruptcy on June 23, with plans to close up to 1,200 U.S. stores as it searches for a buyer.

GNC — General Nutrition Centers — was the country’s go-to retailer for vitamins, protein powders and nutritional supplements. But in recent years it has struggled for years to shore up sales as it tried to pay back more than $900 million in debt. Then came the coronavirus pandemic, which forced it to shutter about 40 percent of its stores, leading to millions in lost revenue. The company reported a $200 million loss during the first quarter of this year and last month warned that some of the company’s temporary closures could soon turn permanent.

The Pittsburgh-based retailer has both assets and liabilities between $1 billion and $10 billion, according to its bankruptcy filing.

Annual revenue: Not reported

Number of stores: About 200

Founded: 1990

Denim retailer Lucky Brand Dungarees filed for Chapter 11 bankruptcy on July 3 and announced plans to sell the company, after the coronavirus crisis caused demand for jeans and other apparel to evaporate.

The Los Angeles-based company, which is owned by private-equity firm Leonard Green & Partners, said it has a lined up deals to sell parts of the business to SPARC Group and Authentic Brands Group. It also is planning to close at least 13 U.S. stores.

“The COVID-19 pandemic has severely impacted sales across all channels,” Matthew Kaness, the company’s interim chief executive, said in a statement. “While we are optimistic about the reopening of stores and our customers’ return, the business has yet to recover fully.”

Lucky Brand, founded 30 years ago in California, is known for its vintage-inspired jeans and T-shirts sold at major chains such as Macy’s, Nordstrom Rack and Costco.

In its bankruptcy filing, Lucky Brand said it owes nearly $5 million to mall operator Simon Property Group, and millions more to suppliers in Anguilla, Sri Lanka, Guatemala and India. It has between $100 million and $500 million in overall debts owed to as many as 5,000 creditors.

Annual revenue: Roughly $1 billion

Number of stores: 250 U.S. stores

Founded: 1818

Brooks Brothers, the country’s oldest clothing retailer, filed for bankruptcy protection on July 8 as it continues to search for a buyer. The brand, best known for its sharp Oxfords, classic suits and polos, has dressed nearly every U.S. president, as well as legions of business executives.

The company is set to close 51 of its 250 North American stores and will halt production at its factories in Massachusetts, North Carolina and New York in mid-August, which produce less than 7 percent of its finished goods. Remaining stores will reopen in compliance with local public health orders tied to pandemic-related closures.

The 202-year brand, owned by its chief executive Claudio Del Vecchio, has long sought a buyer and has not struggled to field bids. But the pandemic, along with changing workplace fashion trends, disrupted the sale process. The company secured $75 million in debtor-in-possession financing to continue its operations during the sale process.

Annual revenue: Undisclosed

Number of stores: 112 U.S. stores

Founded: 1972

Kitchen goods retailer Sur La Table filed for bankruptcy July 9 as it prepares for a corporate sale and store closures.

The Seattle-based upscale cookware chain expects to close 56 of its 112 stores, according to a spokesman. The retrenchment comes two weeks after Sur La Table laid off 27 employees, a fifth of its corporate staff, without severance pay.

Like other retailers tipped into bankruptcy during the pandemic, Sur La Table was carrying a significant amount of debt. In its Chapter 11 filing, it listed between $100 million and $500 million in both assets and liabilities. It also said the company had reached a “stalking horse” agreement with New York-based Fortress Investment Group for a possible sale.

Annual revenue: $827 million

Number of stores: Nearly 400

Founded: 1918

Women’s fashion retailer RTW Retailwinds filed for bankruptcy protection on July 13 and said it expects to close most or perhaps all its stores.

The company behind New York & Co. said in a statement it has already begun to close and liquidate stores. Retailers were already being pushed to the brink before the coronavirus pandemic led to widespread stay-at-home that gutted sales. Now the bankruptcies are piling up — including J. Crew, Neiman Marcus and, just last week, Sur La Table and Brooks Brothers.

The challenging retail environment coupled with the impact of the coronavirus pandemic have caused “significant financial distress on our business, said Sheamus Toal, the chief executive of RTW Retailwinds, in a statement.

Established in 1918, RTW Retailwinds operates nearly 400 locations in 32 states. It also includes Fashion to Figure and HappyxNature — a clothing collection from actor Kate Hudson — among its brands.

Annual revenue: $5.5 billion in 2019

Number of stores: 2,800

Founded: 1962

Ascena Retail Group, the conglomerate behind women’s apparel brands Ann Taylor, Lane Bryant and Catherines, filed for bankruptcy Thursday and said it would close at least 877, or nearly a third, of its 2,800 stores after years of declining sales and ballooning debt.

The company, founded as Dressbarn in 1962, is one of the nation’s largest sellers of women’s clothing. But in recent years, its lineups of no-frills workwear and other basics have lost ground to a growing crop of competitors, including off-price retailers like TJ Maxx and newcomers like Everlane.

Ascena is closing all 264 Catherines stores, and selling the plus-size clothing brand and its website to an Australian company, City Chic Collective. It also will shutter more than 600 Justice stores, which cater to girls and preteens, and some Ann Taylor, Loft, Lane Bryant and Lou & Grey shops.

Jacob Bogage and Hamza Shaban contributed to this report.