The retailing industry has seen its share of bad times and bad management – and had the bankruptcies and liquidations to prove it.
With current speculation that both Neiman Marcus and J.C. Penney are considering – and may be close to – filing for chapter 11 bankruptcy, Stupidbusiness.com has put together a list of the 20 largest retail bankruptcies since 1978 when the current laws essentially went into effect.
It’s an infamous – some would say sad – list of once iconic brand names, most of which eventually went on to be liquidated despite whatever short-term relief they secured under business reorganization. (And yes, Montgomery Ward is on there twice, a dubious distinction that eventually took them to total insolvency.)
Take a stroll now retail memory lane and see how many of these you remember. Anyone who thinks there won’t soon be new additions to this list is…well, Stupid.
These retailers are ranked by assets (in the currency value at the time of the filing) and their ultimate outcome. And note, some of these retailers remain in business online or in some other form but other than their brand names have no connection to the original business.
- Kmart
Type: Discount
Year filed: 2002
Assets: $14 billion
Outcome: Remains in business
- Campeau (Federated, Allied)
Type: Department
Year filed: 1990
Assets: $11.4 billion
Outcome: Remains in business (Macy’s)
- Sears Holdings
Type: Department, Discount
Year filed: 2018
Assets: $6.9 billion
Outcome: Remains in business
- Toys’R’Us
Type: Toys
Year filed: 2017
Assets: $6.9 billion
Outcome: Liquidated
- Macy’s
Type: Department
Year filed: 1992
Assets: $4.94 billion
Outcome: Remains in business
- Montgomery Ward
Type: Discount
Year filed: 1997
Assets: $4.9 billion
Outcome: Remained in business
- Circuit City
Type: Consumer electronics
Year filed: 2008
Assets: $3.75 billion
Outcome: Liquidated
- Montgomery Ward
Type: Discount
Year filed: 2000
Assets: $3.5 billion
Outcome: Liquidated
- Carter Hawley Hale Stores
Type: Department
Year filed: 1991
Assets: $2.1 billion
Outcome: Remains in business (Macy’s)
- Ames Department Stores
Type: Discount
Year filed: 2001
Assets: $2 billion
Outcome: Liquidated
- Spiegel
Type: Mail order
Year filed: 2003
Assets: $1.9 billion
Outcome: Liquidated
- Revco
Type: Drug
Year filed: 1988
Assets: $1.8 billion
Outcome: Liquidated
- Zale
Type: Jewelry
Year filed: 1992
Assets: $1.8 billion
Outcome: Remains in business
- Linens’N Things
Type: Home furnishings
Year filed: 2008
Assets: $1.74 billion
Outcome: Liquidated
- A&P
Type: Supermarket
Year filed: 2015
Assets: $1.6 billion
Outcome: Liquidated
- Radio Shack
Type: Consumer electronics
Year filed: 2015
Assets: $1.59 billion
Outcome: Liquidated
- Bon-Ton
Type: Department store
Year filed: 2018
Assets: $1.59 billion
Outcome: Liquidated
- Blockbuster
Type: Video rental
Year filed: 2010
Assets: $1.54 billion
Outcome: Liquidated
- Borders
Type: Books
Year filed: 2011
Assets: $1.42 billion
Outcome: Liquidated
- Sports Authority
Type: Sporting goods
Year filed: 2016
Assets: $1 billion
Outcome: Liquidated
WarrensReport 