Big chains filed for bankruptcy and closed stores every week in July

New York CNN Business — Coronavirus, massive amounts of debt and a shift in shopping habits created a lethal cocktail of bankruptcies and store closures in July. Justin Sullivan/Getty Images The once-trendy denim company filed for bankruptcy on July 3, explaining in a press release that the pandemic has “severely impacted sales across all channels.” Lucky Brand will immediately close 13 of its roughly 200 stores in North America, which are mostly in malls. A company spokesperson told CNN Business that it expects to “complete the sale process within the next few months.” It’s also in the process of permanently closing 20% of its 250 US stores. Muji CEO Satoshi Okazaki said the company has “felt the devastating effects of the Covid-19 pandemic on in-store retail” and is closing a “small number” of its US stores. Muji is committed to serving its customers in the market and providing a high quality of product and experience into the future.” RTW Retailwinds The owner of women’s retailer New York & Co. filed on July 13 — just weeks after warning its future was in “substantial doubt.” RTW Retailwinds, which has nearly 400 stores and 5,000 employees, said it “expects to close a significant portion, if not all, of its brick-and-mortar stores” after liquidation sales are complete.