Charlotte Russe, Lands’ End and FullBeauty Brands are among the firms listed as having a “negative” outlook that could contribute to the growth in the ranks of distressed retailers over the next 12 to 18 months, according to Moody’s Investor Service.
The ratings firm attributes the growth in distressed firms to the secular shift in the industry, and expects more defaults in the months ahead. The company said the credit erosion in the sector is “crystalizing at a rapid pace as more issuers filed for bankruptcy.” It also expects that as the department store and specialty retail sectors continue to deteriorate, the distressed retail ranks will keep growing. But while distressed issuers are back at Great Recession levels, Moody’s found that the majority of its rated company universe “remains sound.”
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)