Apparel retail has never been for the faint-hearted, and today the segment has retailers by their throats. Customers don't want to pay full price for apparel and few need dressy clothes. That leaves a vast wasteland of specialty retailers to fritter time on efforts that keep missing the mark, so the business is now more cutthroat than ever.
By the end of 2019, 10 of the 16 major retail bankruptcies were filed by companies that mostly or exclusively sold apparel and/or footwear: Forever 21, Avenue, A'gaci, Barneys New York, Charming Charlie, Diesel USA, Payless ShoeSource, FullBeauty Brands, Charlotte Russe and Gymboree.. . . more