2020 Was a Watershed Year for Retail Bankruptcies

A record $10.6 billion in defaults in the past 12 months

The default rate is likely to decline in 2021 with fewer retailers at risk of bankruptcy. Ivary/Getty Images

2020 will go down in history for many dubious distinctions, including retail bankruptcies. There have been more than three dozen bankruptcy filings by national and regional chains as stores were shuttered due to Covid-19, decimating sales for nonessential legacy brick-and-mortar businesses.

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@RichCollings richard.collings@adweek.com Richard Collings is a retail reporter at Adweek.