These 33 retailers and restaurant companies have filed for bankruptcy or liquidation in 2020
REUTERS/Kamil Krzaczynski/File Photo
- A number of retailers and restaurant companies have filed for bankruptcy in 2020.
- Not all bankruptcies result in outright liquidation.
- Companies can also use bankruptcy as an opportunity to turn things around financially.
- Visit Business Insider's homepage for more stories.
2020 has been a hectic year for retail bankruptcies.
The previous year saw a number of well-known national and regional retailers file for both Chapter 7 and Chapter 11 bankruptcy. This resulted in everything from outright liquidation to financial reshuffling.
But as the coronavirus pandemic roils the industry, more major retailers and restaurant chains have now filed for bankruptcy in the first nine months of 2020 than all of 2019.
Here's a list of the retail companies and restaurant chains that have filed for bankruptcy so far in 2020:
Geri Lavrov / Contributor / Getty Images
Source: Business Insider
After Kroger announced it would divest its stake in Lucky's Market in December, grocery industry observers wondered whether the regional chain might be in jeopardy. The following month, Lucky's filed for Chapter 11 bankruptcy.Joe Raedle/Getty Images
Source: Business Insider, CNN
Organic grocer Earth Fare filed for Chapter 11 bankruptcy on February 4. The chain's 50 natural foods stores were set to shut down, but some locations have been acquired by new owners.Holly Hildreth / Contributor / Getty Images
Source: Associated Press, Business Insider, Supermarket News
Noah's Event Venue, a chain offering spaces for various gatherings, technically filed for bankruptcy in May 2019. However, in February 2020, a federal judge ordered the remaining Noah's locations closed, leaving engaged couples around the country scrambling.Source: Business Insider, Business Insider
Michigan-based chain Art Van Furniture filed for Chapter 11 on March 8.Source: Click on Detroit
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Modell's Sporting Goods filed for Chapter 11 on March 11. The family-owned sporting goods chain will liquidate its remaining stores after failing to find a buyer.Business Insider/Jessica Tyler
Source: Bloomberg
FoodFirst Global Restaurants, the parent company of the Brio Italian Mediterranean and Bravo Fresh Italian restaurant chains, filed for Chapter 11 bankruptcy on April 10. The company said that 71 of its 92 restaurants had temporarily closed amid the coronavirus outbreak.Maria A. / Yelp
Source: Restaurant Business
True Religion filed for Chapter 11 bankruptcy protection on April 13. It had previously filed for bankruptcy in 2017 but emerged from proceedings four months later.Source: Bloomberg
J. Crew filed for Chapter 11 bankruptcy protection on May 4. It emerged from proceedings in August.Business Insider/Mary Hanbury
Source: Business Insider
Neiman Marcus filed for Chapter 11 bankruptcy on May 7, citing "inexorable pressure" from the coronavirus pandemic. Its reorganization plan was approved by the bankruptcy court at the beginning of September.Katie Warren/Business Insider
Source: Business Insider
Stage Stores, which owns Goody's, Palais Royal, Bealls, Peebles, and Gordmans, filed for Chapter 11 bankruptcy on May 10, saying that coronavirus-related closures exacerbated a "challenging market environment." The company said it would start winding down operations while seeking a buyer for part or all of its business.Fox E. / Yelp
Source: Stage Stores
Garden Fresh Restaurants, owner of the buffet chains Souplantation and Sweet Tomatoes filed for Chapter 7 bankruptcy on May 14, choosing to close its doors for good.Photo by Mel Melcon/Los Angeles Times via Getty Images
Source: Restaurant Business
JCPenney filed for bankruptcy on May 15, saying in court documents that pandemic-related disruptions pushed it over the edge. On September 9, it announced it had reached a tentative deal with its landlords to save it from liquidation.AP Photo/Paul Sancya
Source: Business Insider, Business Insider
On May 27, off-price retailer Tuesday Morning filed for Chapter 11 bankruptcy and announced plans to close approximately 230 stores.Lea Z. / Yelp
Source: Business Insider
The US arm of Le Pain Quotidien filed for Chapter 11 bankruptcy on May 27. It sold all of its 98 locations to Aurify Brands, which reportedly plans to reopen at least 35 restaurants.Gilbert Carrasquillo/Getty Images
Source: Nation's Restaurant News
GNC filed for Chapter 11 bankruptcy on June 24, announcing it planned to close between 800 and 1,200 stores while it looked for a buyer. In September, a judge approved GNC's sale to China-based Harbin Pharmaceutical Group for $770 million.Reuters
Source: Business Insider, Business Insider, Pittsburgh Post-Gazette
CEC Entertainment, the parent company of Chuck E. Cheese, filed for Chapter 11 bankruptcy protection on June 25. Its finances had been in freefall since the coronavirus pandemic hit.Reuters
Source: Business Insider
Reuters reported that Lucky Brand Dungarees filed for Chapter 11 on June 3. In August, the jeans brand reached a $140 million acquisition deal with Sparc Group, a joint venture between Simon Property Group and Authentic Brands Group.Michael Brochstein/SOPA Images/LightRocket via Getty Images
Source: Reuters
Brooks Brothers filed for Chapter 11 bankruptcy on July 8, citing disruption from the pandemic. It said it planned to close 51 stores. In August, Sparc acquired Brooks Brothers for $325 million.Alex Tai/SOPA Images/LightRocket via Getty Images
Source: Business Insider, Business Insider
Sur La Table filed for Chapter 11 bankruptcy on July 8. It later sold for $89 million to a joint venture between CSC Generation and Marquee Brands LLC, which plans to keep at least 50 stores open.Robert Alexander/Getty Images)
Source: Business Insider, Chain Store Age
Japanese lifestyle brand Muji plans to close struggling stores after filing for Chapter 11 bankruptcy on June 10. Reuters reported that the chain's filing will "not affect its operations in other markets."REUTERS/Stringer
Source: Reuters
The parent company of New York & Co. and Fashion to Figure filed for bankruptcy on July 13. RTW Retailwinds filed Chapter 11 and plans to shutter a "significant portion" of its stores.Rick Diamond / Getty Images
Source: Business Insider
The Paper Store, a specialty gift store with 86 locations in the Northeast, filed for Chapter 11 bankruptcy on July 14 and said it was seeking a sale.Mariejoy T. / Yelp
Source: The Paper Store
Ascena Retail, operator of Ann Taylor, LOFT, Lane Bryant, Lou & Grey, Justice, Catherines, and Cacique, filed for bankruptcy on July 23. It said it would close a number of stores, including all of its Catherines stores.Jeffrey Greenberg/Universal Images Group via Getty Images
Source: Business Insider
California Pizza Kitchen filed for Chapter 11 bankruptcy on July 30 after permanently closing an undisclosed number of restaurants due to the pandemic.Photo by Amy Sussman/Getty Images
Source: Business Insider
Lord & Taylor parent company Le Tote filed for Chapter 11 bankruptcy on August 2 and said it would seek a buyer. On August 27, it said it was beginning the process of liquidating all of its stores.Mark Lennihan / AP Images
Source: Associated Press, Business Insider
Tailored Brands, owner of Men's Wearhouse, Jos. A. Bank, Moores Clothing for Men, and K&G Fashion Superstore, also filed for bankruptcy on August 2.Getty/ Andrew Burton
Source: Reuters
Off-price apparel and home goods retailer Stein Mart filed for Chapter 11 bankruptcy on August 12. The next day, it said it would close all of its stores.Ron L. / Yelp
Source: Business Insider
Garbanzo Mediterranean Grill, a chain with four company-owned restaurants and 21 franchised locations, filed for Chapter 11 bankruptcy on August 12, saying that it was "entirely brought on by the unprecedented and the sudden impact of COVID."Luke B. / Yelp
Source: Nation's Restaurant News
KB US Holdings, parent company of the grocery chains Kings Food Markets and Balducci's, filed for Chapter 11 bankruptcy on August 23 and said it had accepted a $75 million buyout offer from TLI Bedrock.Kimberly J. / Yelp
Source: KB US Holdings
Century 21, the off-price department store, filed for Chapter 11 bankruptcy on September 10 and said it would close all 13 of its stores.Rob Kim/Getty Images
Source: Business Insider
It'Sugar, the candy store chain with about 100 locations, filed for Chapter 11 bankruptcy on September 22. It said sales were hurt by declining tourism due to the pandemic.Denise Truscello/Getty Images for ITSUGAR
Source: BBX Capital
