bankruptcies rose 110% in the first six months of this year compared with the same period a year ago. The consumer discretionary sector accounted for 24% of all bankruptcies this year, according to the ratings agency Fitch.
In its report, Reorg First Day released a chart listing major retailers that collapsed this year. True Religion, maker of jeans and shorts, started the slide at the beginning of this year by declaring liabilities of between $100 million and $600 million. Among the high-profile companies that declared bankruptcy this year was kids' retailer Gymboree, which declared liabilities of well over $1 billion. . . . more