“The retail industry is facing a potential wave of bankruptcies – here’s why”
June 24, 2022
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The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity.
There could be an increase in distressed retailers beginning later this year, experts say, as ballooning prices dent demand for certain goods, stores contend with bloated inventory levels and a potential recession looms…
The industry had seen a dramatic pullback in restructurings in 2021 and early 2022 as companies — including those that had been on so-called bankruptcy watch lists — received relief from fiscal stimulus that offered cash infusions to businesses and stimulus dollars to consumers. The pause followed a flood of distress in 2020, near the onset of the pandemic, as dozens of retailers including J.C. Penney, Brooks Brothers, J. Crew and Neiman Marcus headed to bankruptcy court…”
https://www.cnbc.com/2022/06/23/why-retail-industry-is-facing-bankruptcy-wave.html
That last paragraph above is horribly written but basically it’s an admission that lockdowns drove companies into bankruptcy. What a surprise. You mean to tell me if you’re store is forced to close down or is restricted it will lose money? Someone has to be a genius to figure that out. We have 2 problems that could be solved easily. #1 was the lockdowns. Never do them again. We’re dealing with the aftermath. #2 the restriction of energy. Energy is the lifeline of an economy. Cutting energy directly cuts the economy. That means shutting down all those oil pipelines is a bad idea.