Fourteen North Carolina retailers have been reported as "on the verge of bankruptcy."
However, despite the news, Moody's Lead Retail Analyst, Charlie O'Shea said in a press release, "The majority of retailers remain fundamentally healthy," in regards to the 2008-2009 Great Recession. "But as select groups of retailers continue to deteriorate--in particular, department stores and specialty retailers--we believe the distressed ranks will keep growing, fueled in part by distinct vulnerabilities."
Here is the list of retailers "on the verge of bankruptcy" according to the Charlotte Patch:
- Charlotte Russe
- Charming Charlie
- Claire's Stores
- Cloe Haan
- David's Bridal
- Eddie Bauer
- J. Crew
- Neiman Marcus
- Nine West
- True Religion Apparel
Sears and Kmart have said they will have stores closing in New Jersey. Sears declared it would close 150 Kmart and Sears stores by this spring. Closing stores will be "difficult but necessary step as we take actions to strengthen the company's operations and fund its transformation."
Other retailers that have been noted for closing stores already this year in N.C. are Bebe, Radio Shack, HHGregg, and The Limited.