US retailers: Bankruptcy､store closures increased in the first half: BDO (Binder Dijker Otte)
New York
September 30, 2019
US Accounting Office: BDO (Binder Dijker Otte): (See Table 1)
On September 11, the report ‘BDO Bi-Annual Bankruptcy Update’ was released.
The number of bankruptcy filings for retailers in the first half of 2019 was 14, which exceeded the same period in 2018 (13 cases).
In particular, there are many things that involve asset sales or liquidation.
It is also characterized by a large number of personnel reductions.
Reemployment support: Challenger Gray Christmas
From January to July, the number of staff cuts due to bankruptcy was 42,397.
It is 38% higher than the same period in 2018 (3637 people), the highest level in 10 years since 2009 (50,258 people).
Most of them are from retail trade.
According to a BDO report, the poor year-end sales battle in 2018 and a decrease in tax refunds had an effect.
-JETRO
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