Factbox-Biggest US retail collapses in recent years as Saks Global files for bankruptcy

101 finance2026/01/14 06:27

By:101 finance

Jan 14 (Reuters) - Saks Global filed for bankruptcy late on Tuesday, adding to a long list of high-profile retail collapses in the United States in the past decade as they struggled to stay alive amid cut-throat competition from big-box and online retailers.

Saks Global is a conglomerate of department stores created after then parent, Hudson's Bay, acquired rival Neiman Marcus in 2024. Saks Global owns ‌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 January 2026 department store

conglomerate

filed for

bankruptcy protection,

marking one of the biggest

retail collapses ‌since the

COVID-19 pandemic.

Lord & August 2020 The storied department store

Taylor chain filed for Chapter 11

bankruptcy during the

coronavirus outbreak.

Neiman May 2020 The luxury department store

Marcus chain filed for bankruptcy

protection and completed its

Chapter 11 process in

September that year.

J.C. Penney May 2020 The department store chain

filed for bankruptcy

protection.

In December 2020, the

company said its retail and

operating assets would exit

Chapter 11 after two of its

biggest landlords, Simon

Property Group and

Brookfield Asset Management,

acquired nearly all such

assets.

Barneys New August 2019 The New York retail icon

York filed for bankruptcy

protection and put itself up

for sale.

A bankruptcy judge approved

the sale of Barneys' ⁠brands

and other intellectual

property to licensing firm

Authentic Brands, and the

deal ‌closed in November that

year.

Sears October 2018 The parent of Sears, Roebuck

Holdings and Co and Kmart Corp filed

for Chapter 11 bankruptcy

following a decade of

revenue declines, hundreds

of store closures.

The company's chairman,

Eddie Lampert, prevailed in

a bankruptcy auction for the

store chain in January 2019,

with an improved ‍takeover

bid of roughly $5.2 billion,

allowing the retailer to

keep its doors open.

Here are some of the other big American retailers that also faced bankruptcy in recent years:

Company Filing date Details

Claire's August 2025 The fashion jewelry

Stores retailer filed for

bankruptcy protection for

the second time, with a

plan to close hundreds of

stores and find a buyer

for about 800 remaining

locations.

Rite Aid May 2025 The pharmacy retailer

filed for bankruptcy for

the second time in less

than two years after a

previous restructuring

reduced its debt but

failed to address its

long-term business

challenges.

Joann January The craft retailer filed

Fabrics 2025 for Chapter 11 protection

in Delaware on Wednesday,

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

Factbox-Biggest US retail collapses in recent years as Saks Global files for bankruptcy

You may also like

Trending news

Crypto prices