As of August 31, 16 retailers have filed for Chapter 11 bankruptcy in 2017. Four of those sixteen retailers are filing for Chapter 22, meaning this is their second time declaring bankruptcy. Chapter 22 cases show that the first bankruptcy failed and that the firm and its advisors were too optimistic regarding the firms viability out of bankruptcy. The chart below summarizes the four Chapter 22 filings over the past year:
1 Emergence from 1st to 2nd filing.
In all of these Chapter 22 cases, the companies attempts to improve core operations were not successful. The restructuring of these companies after the Chapter 11 filings did not go far enough to address their various operational problems instead the efforts focused on improving the…
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