There's one bright spot retailers are in a position to benefit from:
E-commerce sales growth has been enormous and is expected to continue. Moody's projected growth of 14% to 15% for e-commerce sales in 2021, even as people are expected to return to stores as the pandemic ebbs.
Here's a list of major retailers for whom 2021 could be a make-or-break year based on USA TODAY research, public data and analyst reports:
J.C. Penney
The company was at risk of total liquidation for months as it negotiated with its creditors. After reaching a deal to sell to a consortium of property owners, including mall company Simon Property Group, J.C. Penney emerged from bankruptcy in December having closed more than 150 stores.