Home Featured JOANN and Rite Aid are facing bankruptcy, as well as 3 other major stores

JOANN and Rite Aid are facing bankruptcy, as well as 3 other major stores

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JOANN and Rite Aid are facing bankruptcy, as well as 3 other major stores




<p>Our favorite retailers are usually the ones we feel like we can count on to always have what we need, whether we're shopping online or paying these stores a visit. But as we now know all too well, the ongoing retail apocalypse forces even the most beloved companies to <a rel="noopener noreferrer" href=" target="_blank">shutter locations</a>, making reliability a thing of the past. Now, several big-name stores are potentially facing bankruptcy in the <a rel="noopener noreferrer external nofollow" href=" target="_blank">next 12 months</a>, Retail Dive reported, citing new data from CreditRiskMonitor.</p>
<p>Consumers may be cutting back on their spending due to the impending recession. As <strong>Elizabeth Han</strong>, senior director on Fitch's U.S. leveraged finance team, told Retail

Dive, current shopping habits are typical of trying times.</p>
<p><span>"A lot of retail is consumer discretionary so in the event of an economic pullback, or economic uncertainty, you'll see some of that revenue come down because it's more of a discretionary purchase,"…



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