Jan 14 (Reuters) – Saks Global filed for bankruptcy protection on Tuesday night, adding to a long list of high-profile retail collapses in the United States over the past decade as they struggled to stay alive amid fierce competition from big box retailers and online retailers.
Saks Global is a department store conglomerate created after then-parent Hudson’s Bay acquired rival Neiman Marcus in 2024. Saks Global owns the luxury chains Saks, Neiman Marcus and Bergdorf Goodman.
Listed below are some of the biggest bankruptcies among American department stores:
Company Filing Date Details
the high end
Saks Global Department Store January 2026
conglomerate
presented for
bankruptcy protection,
marking one of the greatest
retail trade collapses since
COVID-19 pandemic.
Lord and August 2020 The Historic Department Store
The Taylor chain filed for Chapter 11
bankruptcy during
Coronavirus outbreak.
Neiman May 2020 Luxury department stores
The Marcus chain declared bankruptcy
protection and completed his
Chapter 11 Process in
September of that year.
JC Penney May 2020 The department store chain.
declared bankruptcy
protection.
In December 2020, the
The company said its retail and
operating assets would come out
Chapter 11 after two of his
the largest landowners, Simon
Property Group and
brookfield asset management,
acquired almost all of those
assets.
Barneys New August 2019 The icon of New York retail
York declared bankruptcy
protection and stand up
on sale.
A bankruptcy judge approved
the sale of Barneys brands
and other intellectuals
property to licensing company
Authentic brands and
agreement closed in November that
year.
Sears October 2018 Sears’ parent company, Roebuck
Holdings and Co and Kmart Corp filed
for Chapter 11 bankruptcy
after a decade of
income decreases, hundreds
of store closures.
The president of the company,
Eddie Lampert, won in
a bankruptcy auction for the
chain stores in January 2019,
with improved acquisition
offer of approximately 5.2 billion dollars,
allowing the retailer
keep your doors open.
Here are some of the other large American retailers that also faced bankruptcy in recent years:
Company Filing Date Details
Claire’s August 2025 Fashion jewelry.
Requested Retail Stores
bankruptcy protection for
the second time, with a
They plan to close hundreds of
stores and find a buyer
for about 800 remaining
locations.
Rite Aid May 2025 The Pharmacy Retailer
declared bankruptcy for
the second time in less
more than two years after a
previous restructuring
reduced his debt but
failed to address his
long term business
challenges.
Joann January The artisanal retailer presented
Fabrics 2025 for Chapter 11 protection
in Delaware on Wednesday,
saying that inventory
the shortage had forced him to
go back to bankruptcy
the second time in less
of one year.
Party City December The retailer, who had
Holdco 2024 has been struggling since the
pandemic, presented by
Chapter 11 bankruptcy
protection in the united states
States for the second time
in two years.
Lugano November The jeweler filed the lawsuit
Diamonds 2025 Chapter 11 to facilitate a
sale of the business.
The company achieved a
agreement with investment
improved retail company
Financing to become
horse bidder on the prowl,
while searching additional
offers in the middle of the
court supervised sale
process
Bed Bath and April 2023 The Home Goods Retailer
Beyond declared bankruptcy
protection after it failed
to secure funds to stay
afloat.
Christmas May 2023 The Home Decor Retailer
Tree Shops that was spun off from Bed
Bathroom and beyond in 2020
declared bankruptcy
protection.
An American judge in August
2023 became the
Chapter 7 bankruptcy
settlement.
Adapted August 2020 The owner of Men’s Wearhouse
Brands filed for bankruptcy
following the economy
consequences of COVID-19
crisis. In December 2020,
Custom brands emerged
of bankruptcy
protection.
Ascena July 2020 The owner of Ann Taylor
Retail and Lane Bryant requested
Chapter 11 protection of the group,
succumb to the economy
consequences of the pandemic.
Brooks July 2020 The men’s clothing brand.
The brothers filed for Chapter 11 as
the COVID-19 pandemic.
The 200-year-old company was
purchased by authentic
Brand Group and Simon
Group of properties for $325
million in August 2020.
J.Crew May 2020 The clothing chain presented
Bankruptcy Protection Group
with an agreement to
eliminate $1.65 billion from
debt in exchange for
transfer the property to
lenders.
Forever September 21 The fast fashion retailer
2019 filed for bankruptcy as
increased competition
from online sellers and
changing fashion
trends dictated by
millennial buyers attracted
down sales.
US Retailer
operating company presented
for second bankruptcy in
March 2025 and he said it.
would finish his
domestic operations.
Nine West April 2018 Footwear and clothing
The holding company emerged from
bankruptcy process per year
after filing Chapter 11,
reducing your
pre-bankruptcy debt
obligations for more than
billion dollars and selling his
Nine West and Bandolino
shoes and bag
authentic companies
Group of brands for $340
million.
Toys ‘R’ Us September 2017 The biggest toy in the US at the time
chain of stores and owner of
Babies “R” Us requested
bankruptcy protection in
late 2017, fighting under
a debt of 2.5 billion dollars.
At that moment, his
the bankruptcy was the biggest
collapse of the United States
retail by assets from
Kmart in 2002.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj Kalluvila and Janane Venkatraman)
Source link
