2020 saw a record number of retailers go bankrupt as the pandemic destroyed their business.
2021 is off to a better start, but there are still some retailers that are vulnerable to bankruptcy.
S&P says these 15 retailers have anywhere from an 11.7%-32.8% chance of credit defaults in a year.
2020 was a banner year for US retail bankruptcies.
Back in March 2020, as the pandemic set in and governors across the country asked non-essential businesses to close, retailers found themselves between a rock and a hard place.
On one hand was a sudden and dramatic decline in sales as standalone stores shuttered and foot traffic dried up at malls. On the other hand was a quick pivot in consumer spending — people cared a lot less about dressing well when they were stuck at home, and cared a lot more about stocking up on essentials like food and paper goods.