Perfect Storm Is Brewing For More Retail Bankruptcies After Bed Bath & Beyond And David’s [Forbes]
Bed Bath & Beyond, Inc. (BBBY)
Last bed bath & beyond, inc. earnings: 4/15 04:15 pm
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Source: Forbes
Apocalyptic dramatic background - giant tsunami waves, dark stormy skygettyIn the first four months of the year, nine major retailers have filed for bankruptcy protection, quickly surpassing the total five retailers that fell in 2022, a 13-year low, following 12 filings in 2021 and 35 in 2020, according to the latest BDO “Retail in the RedBesides the headline-grabbing bankruptcies of Bed Bath & BeyondBBBYAnd things are bound to get worse before they get better. Retailers face a perfect storm due to the rising cost of capital, trouble in the banking sector, slowing residential real estate market, record levels of household debt and persistent inflation that is already turning the tide onconsumer demandThe previously buoyant jobs market, which has remained on the plus side of the economy’s ledger, is showing signs of cooling, according to theWall Street JournalAll of which clouds the forecast for retailers struggling to stay afloat. “It’s like a seesaw,” said David Berliner BDO partner,
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