Retail bankruptcies roll in
Utter devastation in a sector usually indicates a bottom is near. This could be the moment retail capitulates.
Last Monday, fashion retailer J-Crew filed for Chapter 11 bankruptcy - something markets have expected for a while.
On Thursday, Neiman Marcus also filed for Chapter 11, becoming the first department store to do so.
Golds Gym also filed for bankruptcy last week.
Flailing department store J.C. Penny is reportedly preparing for bankruptcy filing this week as they have defaulted on a major credit-line.
This comes as major Mall brand, Simon Properties, opened their doors in several states and reported long lines of excited shoppers.
According to data from CreditRiskMonitor, risk scores for 10 retailers have fallen to levels indicating a high-risk of bankruptcy - based on a FRISK score:
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