Toys R Us has filed for Chapter 11 bankruptcy protection, joining a growing list of companies struggling to navigate a retail landscape altered by technology and changing consumer tastes. There is even a new term that has emerged which points to the dire state of the industry: Chapter 22. Those are companies that have been forced to seek bankruptcy protection for a second time. Overall, 35 retailers have filed for bankruptcy so far this year, according to S&P Global Market Intelligence.
Following are some of the retailers that have sought bankruptcy protection just this year:
4.BCBG Max Azria
13.Cornerstone Apparel, owner of Papaya Clothing
14.True Religion Apparel
19.Toys R Us
(asterisk)Second bankruptcy protection filing by Wet Seal and RadioShack. Payless ShoeSource emerged from bankruptcy protection in August, while Rue21 received court approval to emerge from bankruptcy last week.