RETAIL By Andrew Asch | Thursday, December 17, 2020
Prominent names in apparel filed for bankruptcy and closed physical stores in 2020 in the face of overwhelming challenges.
Among the brands to file for Chapter 11 bankruptcy protection were
John Varvatos and the Los Angeles–headquartered denim labels
Lucky Brand Jeans and
Announcements of bricks-and-mortar-store closures ran the gamut of retail. Department stores announcing closures included
Macy’s, which announced on Feb. 4 the closure of 125 stores over the next three years. Macy’s also reported that it would close its San Francisco offices, once the headquarters of its now-defunct Macy’s West division, and move to the department-store retailer’s New York City headquarters.