While the news has been dominated by natural disasters, political disasters, and yet more cases of sexual predation by men in power, the retail apocalypse continues to chug along unabated, and according to the Fitch Ratings “loans of concern” list, it has some new targets in its sights.
As reported by Retail Dive, the brands on Fitch’s most recent list of companies at risk of default include J. Crew ($1.4 billion in debt), Neiman Marcus ($2.8 billion), Cole Haan ($309 million), Land’s End ($498 million), and Talbots ($595 million).
Perhaps the most notable inclusion, Retail Dive notes, is J. Crew, who had dropped off the “primary loans of concern” list in Fitch’s last release after “pushing its debt maturities out a few years.” But, the analysts at Fitch still aren’t all that confident about the company’s long-term prospects.
“Fitch still has a close eye on J. Crew… [and] still consider them of some risk given low bond ratings, discounted debt in the secondary market, “adverse” market information and events and input from analysts.”
While these retailers are unlikely to default in the near-term, the story notes, David Silverman, senior director of Fitch’s retail coverage, told Retail Dive that most will have trouble securing new financing deals moving forward, which will only exacerbate whatever problems they already have.
Meanwhile, Amazon is trying to unlock your front door.
You can read more about it at Retail Dive.
