Monday, October 21, 2019

Destination Maternity files for bankruptcy

Destination Maternity, a leading retailer of maternity wear, filed for bankruptcy Monday, buckling under the weight of an onerous debt load and struggling to compete with better capitalized competition. 

Destination Maternity has a market capitalization of nearly $5 million, according to FactSet. It has $260 million in total assets and $244 million in total debt according, to its bankruptcy filing. For fiscal 2018, it reported a net loss of $14.3 million on sales of $383.8 million according to its most recent annual report. . . . more