Huge home retailer filing Chapter 11 bankruptcy, closing stores
The chain is expected to file as soon as June 15 with store closures to follow quickly after, but it has not publicly confirmed that plan.
While certain discount retailers have thrived, not every chain has the loyal customers that support Marshalls, Ollie's Bargain Outlet, Ross Dress for Less, HomeGoods, and other thriving chains.
In fact, the current retail apocalypse has claimed a lot of players in the discount space including some that seemed to have a devout following. The death of Christmas Tree Shops, for example, was shocking only because that chain seemed to have a cult following.
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It was perhaps less surprising when Bed Bath and Beyond went out of business as that chain seemed to have lost its way, but its death was unexpected if only because the retailer filled a product niche.
Retailers including Tuesday Morning, which offered the same treasure hunt model made popular by Marshalls, TJ Maxx, and HomeGoods — all sister brands under TJX Companies (TJX) — did not survive its Chapter 11 bankruptcy.
