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More retailers file for bankruptcy twice as they struggle with rising debt, pressure from Amazon

February 02, 2020 / Lauren Thomas
SHARESHARESHARE

Last month, many New York City residents awoke to surprising news that could change their shopping routines as well as the items in their refrigerators. The local grocery chain Fairway, known for its no-frills atmosphere and extensive selection of items like cheese and seafood, had filed for bankruptcy not just for the first time, but for the second. It’s a scenario that’s getting more common for traditional retailers as they find themselves under pressure from a sea change in where and how people are shopping. Retailers like Barneys and RadioShack have found themselves on the brink twice going through a bankruptcy filing once, emerging, and then heading back to court, again. In cases where the company files specifically for Chapter 11 twice, the scenario is referred to as Chapter 22.