Clothing Brands That Are On The Verge of Vanishing Completely

Clothing stores have been an impulse buyer's best friend for decades now. You go in looking for one item and by the time you know it you leave with an outfit. However, times have changed and people are now shopping more and more online, leaving these retailers hurting on the financial side. Because of this a lot of clothing brands are now on the verge of having to shut down permanently. Scroll through this list and see which stores that once flourished, are now about to lose it all. 

In 2020, Payless filed for bankruptcy for the second time. This time though, the company was ready to let it all go. They had a wide range of competitors like Target, Walmart, and Kohls that it made no sense to keep the stores. Payless Shoesource closed its 2,100 company-operated locations within the US and in Puerto Rico, as well as its e-commerce site. 

In 2018, Rockport Footwear filed for Chapter 11 bankruptcy. They owed millions of dollars to Adidas and its previous owner, Reebok. This sent Rockport a bit deeper in the hole. Rockport was then purchased by Charlesbank Capital Partners. 

In 2019, A’gaci filed for Chapter 11 bankruptcy. Many of its stores were underperforming, had a rocky structure, and were low in both shoppers and sales. The company announced they’d be closing 54 of its stores in Puerto Rico and in the U.S. 

The teen and young women apparel/accessory chain filed for bankruptcy in 2019. With a load of debt and stores not making any profit, Charlotte Russe was forced to shut down over 416 locations across the U.S. & Puerto Rico. 

In 2019, Gymboree filed for bankruptcy. It was its second time having filed and this time, it was forced to close over 800 of its stores, both in the U.S. and abroad. Gymboree was the initial owner of Janie & Jack (children’s brand) before selling it to Gap. 

Aerosoles company is mostly known for their comfortable wedges. In 2017, the footwear company filed for Chapter 11 bankruptcy. Just as many other retailers, Aerosoles announced to be closing the majority of its stores with the intent to move sales on the digital market. 

The cute and affordable teen apparel filed for Chapter 11 bankruptcy just before Black Friday in 2017. The chain had over 160 of its stores within mall premises. However, the retailer had given no reason for why it filed for bankruptcy in the first place. It is understood that mall traffic had been declining, but not in the holiday season, let alone on Black Friday. 

BCBG was ranked one of the most successful companies in the women’s apparel regime. They were widely recognized for their special dress offers. In 2017, BCBG filed for bankruptcy and Marquee Brands LLC purchased BCBG out of bankruptcy. BCBG closed stores to minimize its retail footprint while investing more in e-commerce. 

In 2018, Nine West had filed for bankruptcy protection after a major fallout. The company was considered one of the most popular footwear retailers. They were a profitable business and even produced about 10% of the women’s footwear market. But they did have an accumulated debt of $1 billion dollars. 

Karmaloop was conceived from the Selkoe’s (founder) basement in 1999. Selkoe sought to make actual “cool clothes,” not the mall-kind of clothes, but actually cool clothes that honored culture. The company was known for its artistic development and unique approach in the retail industry. It thrived for some time but over the years, Karmaloop was accumulating a lot of debt and some heavy enemies within the business. 

Prior to the peak of the pandemic crisis, True Religion was one of the very first to file for bankruptcy protection. Note that it wasn’t the company’s first time to file. Its financial troubles go back a couple of years. In 2017, the denim brand was $350 million in debt and was forced to close approximately 30 stores. They did end up exiting bankruptcy after just four months. 

David’s Bridal was the most profitable and largest retailer in the U.S. until covid-19 happened. In 2020, the chain filed for bankruptcy. The company began to look at its marketing strategies and its main target. With millennials being their number one shoppers, the chain has taken motion to re-establish their marketing strategies on social media. It was a major turnaround as David’s Bridal used to carry their marketing via radio and TV.

City Sports filed for Chapter 11 bankruptcy in 2015. At the time, it had 26 stores; eight were said to be closing and 18 would remain open only if a buyer invested in them. However, there was no buyer, and liquidation sales were held all across the 26 stores. In 2016, Sonnek-Schmelz bought the American apparel store and relaunched stores in New York, Boston and Philadelphia. 

The American lingerie chain was quite popular around the 1940s. Frederick’s had been struggling financially and in 2015, Frederick’s filed for bankruptcy. One of the major financial strains was operating over 90 stores that weren’t making much profit. This wasn’t the only time they had struggled. In 2000, they had filed for bankruptcy with $70 million dollars in debt and over 200 stores. 

Wet Seal was once the brand that every teen adored, but it wouldn’t last very long. In 2017, Wet Seal announced they were no longer going to receive financial assistance for its operations. The chain had been working on getting a suitable buyer or revamping their capital. However, neither of these happened. 

Quicksilver is an Australian based surf and skate shop. The company was struggling amidst the fast fashion industry and opened too many stores too fast which led to bankruptcy. In 2015, Quicksilver filed for Chapter 11 bankruptcy. It decided to close 27 of its stores plus nine Californian ones. 

Nasty Gal initially started as an eBay store. Within six years, the store had gained over $100 million in sales (2012). By 2014, sales dropped to $85 million and in 2015, sales dropped to $77 million. Nasty Gal had spent a lot of money on marketing without earning it back through profit. The company expanded further than it needed to, which is what brought a huge strain on the financial and business side of the company. 

In 2017, Rue 21 had filed for Chapter 11 bankruptcy and closed over 400 stores. They alleviated their debt load and minimized its retail footprint. In 2019, the company exited bankruptcy and launched its first new store at a mall in Robinson. 

First off, it’s fair to acknowledge that Pacsun was one of the top teen retailers in the early 90s. Over time, the sunny Californian vibe had been disrupted by its attempt to change into a more streetwear kind of vibe. PacSun even changed the logo to a less sunshine essence. Despite working with celebrities to woo the younger generation, it failed. 

American Apparel was the astonishing brand that rose from the depths of who knows where in 2004. With multiple stores, advertising campaigns, and iconic Made in the U.S.A. marketing model, the chain was a massive hit in the early 2000s. People were actually interested in USA goods while many other brands were incorporating offshore and internationally-made goods. However, its high peak lasted very little, with a decrease in sales, the founder’s sexual harassment case, and failing advertising tactics. 

In 2016, Aeropostale filed for bankruptcy and initially closed 154 of its stores in the U.S. and Canada. Many more closures followed. The brand was extremely popular in the 90s and early 2000s. However, at one point it lost its own spark and tried to follow other brands’ tails. 

Forever 21 has become the iconic fast-fashion retailer around the globe. Lately, people have lost their interest in the brand. Forever 21 would bring new trends at the speed of light (you get the idea) without any real value. At one point, their target audience and consumers started to question the fast fashion industry. They no longer mindlessly sought to buy the cheap stuff. 

Destination Maternity (known as Mothers Work Ink) was the top maternity clothing designer and retailer. In 2018, the company had approximately 1,108 locations up and running within the US and internationally (Canada & Puerto Rico). 

The luxury footwear and accessories chain filed for Chapter 11 bankruptcy in 2018. Because of the retail apocalypse, Charlotte Olympia’s stores had declined in profits. There had been a wide range of competitors, odd strategies, and uncanny disruptions that have affected the industry as a whole. 

In 2018, The Walking Company filed for bankruptcy (second time). It closed somewhere around 80 stores and exited bankruptcy with approximately 100. In December 2019, The Walking Company filed for bankruptcy again. It intended to close 90 stores and then another 40 in 2020. 

Avenue was a famous plus-size clothing retailer until it wasn’t. In 2019, Avenue filed for Chapter 11 bankruptcy and then switched to Chapter 7. They had plenty of competition in the plus-size market. There were others in the plus-size field that were winning over consumers: Torrid, Catherines, and Lane Bryant. 

Robert Cavalli is an Italian based luxury brand. It is known for its high-end prints, perfume, accessories, and leather goods. In 2019, the luxury house filed for Chapter 7 bankruptcy and closed its North American stores. They sought investors to keep the brand afloat. In November, the company was bought by Damac Properties. 

The iconic luxury chain finally let's go after years of trying to hang in the market. In 2019, Barneys closed 15 of its 22 stores. The company was then purchased by Authentic Brands Group and B. Riley for $271.4 million. Liquidation sales were held at the remaining seven stores. 

Sears was known as one of the top retailers in the 80s. With a wide range of products and apparel departments, Sears was of the essence. But its success would soon be overshadowed by new companies like Walmart in the 90s. In 2018, Sears filed for Chapter 11 bankruptcy. In November 2019, Transformco had bought Sears and Kmart out of bankruptcy. Transformco then announced 51 of Sears’ stores would be closing with liquidation sales. 

Millennials probably have no clue about the once upon a time retailer. Hence, it was not going to last very long. Bon Ton was special for its unique name, but apart from that, it became very bland for shoppers. It wasn’t expensive, but it wasn’t cheap either, so this didn’t really help the flow of big-time sales and one of a kind offers. 

In 2020, Lucky Brand filed for bankruptcy with millions of dollars in debt. The pandemic really hit this one company at its core. With 200 stores total in North America, they planned to close 13 of them in Puerto Rico, Connecticut, Illinois, Arkansas, California, Florida, Michigan, Nevada, and Mississippi. 

Neiman Marcus filed for Chapter 11 bankruptcy earlier in 2020. They exited bankruptcy by the end of the same year after having reworked the business behind the scenes. The company got rid of the $4 billion debt they had accumulated and closed a few more outposts. 

J.Crew was widely known as one of the top clothing brands thanks to the first lady, Michelle Obama who put the word out when she was seen wearing J. Crew apparel. Then other celebrities followed. In 2008, J. Crew survived the recession, it was that popular. However, in 2014, shoppers went straight to the fast fashion brands like H&M & Forever 21. Not everyone could afford or was willing to buy a $2,000 skirt at J. Crew. 

Most of Victoria’s Secret stores are located in shopping malls and this has caused a drop in sales and customers. Since the pandemic struck, Victoria’s revenue has lowered 12%. Victoria’s Secret was sold to Sycamore Partners’ private equity firm for $525 million. The parent company, L Brands was said to keep 45% minority shareholdings. 

Signature rings are no longer attractive. People aren’t even getting married these days if you weren't able to tell. Luxury jewelers like Tiffany’s & Co. had been the most prominent in the fashion business before covid-19 struck. Now, very few are actually wanting to purchase from the high-end brand. Sales have dropped and consumers are looking at more relatable and personable brands, whereas Tiffany’s stands for the high-end/perfection image.

H&M sales had lowered 5% in September of 2020. By the end of 2020, H&M announced it would be closing 250 stores worldwide due to the pandemic. They were forced to reform their staff members, investments, and major finances. Their biggest retailer in Sweden had also been affected but quickly reinforced online sales. 

In 2020, the parent company of Ann Taylor, LOFT, and Ascena, filed for Chapter 11 bankruptcy protection. They announced closing over 1,000 Ann Taylor’s stores. Ann Taylor was first known as Dressbarn, a long-lasting and profitable women’s clothing market since 1962. 

In 2018, Crocs decided to cut back its load and close around 100 of its stores. This was a smart and profitable decision to focus on its high performing locations. In 2020, Crocs closed the majority of its stores due to the pandemic. Apparently, the company’s revenue doubled. Yes, doubled. 

In its beginning stages, Abercrombie & Fitch was extremely successful. They even created three brands to add to their company group: Abercrombie Kids, Gilly Hicks, and Hollister.

Over time, they failed to notice that kids didn’t want to keep wearing the same old “casual luxury” clothing as everyone else. Its stock dropped 30% in 2020 and its clothes have been more expensive than other brands. 

The women’s shiny accessory chain had first filed for bankruptcy in 2017. This led the company to close over 100 of its stores. In 2019, Charming Charlie filed for bankruptcy once again and closed all of its 261 stores. That same year, the company then sold its trademark at a bankruptcy auction for $1 million dollars. Charming Charlie had lost its charm and went idle for months. 

The Gap that shoppers once knew seems to have become quite boring. Sweaters and hoodies with the name “Gap” don't do justice anymore. In 2019, there were some reports claiming the Gap was going to split its company in two. One company would be joint with Athleta and Hill City and the other with Old Navy. 

JCPenney was successful in so many ways. The company would thrive with tactics and assets when other retailers would drop them; just like becoming the top catalog retailer after Sears overlooked it. 

In 2020, Macy’s closed over 30 of its locations. Macy’s currently has 544 department stores, 34 Bloomingdale’s, and 19 Bloomingdale outlets. Earlier this year, Macy’s announced they’d be closing over 120 stores by 2030 with the intent to cut all departments within underperforming malls. 

In 2020, Guess announced that they would be closing over 100 stores within the U.S. and in China. For some reason, rather than closing immediately, they have agreed to close over the span of 18 months. The company has kept the high-performing stores rolling. While there are 70% of store leases set to expire within three years, stores aren’t expected to be closing down at all yet.

Cole Haan is a lifestyle brand, specializing in everyday wear, workout wear, and special occasion apparel. When the covid-19 pandemic struck, Cole Haan set out to temporarily close all stores that were being most affected by the crisis. Currently, Cole Haan has about 70 stores total. 

Belk was originally founded by a family and continued being operated for three generations. It was later purchased by Sycamore. After 130 years of long-lasting success, Belk will be filing for bankruptcy in February of 2021. Belk had not been investing in the growth of online presence and they are now paying for it. 

The women’s modern/casual apparel company escaped bankruptcy by settling financial agreements with shareholders and lenders. A smart move indeed. Not many retailers are able to do this as swiftly as J. Jill has. Despite it having worked out this time, the uncertainty of the covid crisis lives on. 

In 2011, in order to minimize its retail footprint, Talbots had set out to close over 80 of its stores. Over 100 more would close by 2013. In a way, Talbots got prepared way before the grand crisis. The company reduced unnecessary marketing investments, reworked the store workforce, and began saving $50 million annually. 

In 2016, Fossil had reduced the number of its stores. It also reworked the products it was selling and took a few of them out. In 2020, Fossil decided to temporarily close all North American stores amidst the pandemic. Its stores in Asia would remain open as well as its online shop. In its second quarter, sales dropped $259 million from $504 million the previous year. The company has worked on reestablishing financial expenses and maintaining a fair flow of product assessments.