This year, a number of major retailers have declared bankruptcy. Rite Aid recently filed and Bed, Bath & Beyond, Tuesday Morning and Christmas Tree Shops wound up closing all their stores amid their bankruptcies. Well it seems like 2024 will see more companies following suit and experts have identified one that they think will very likely be bankrupt next year – it’s the popular fashion rental company Rent The Runway.
The company’s stock has lost 96% of its value since it went public in 2021, and things have gotten so bad for them that credit reporting agency CreditRiskMonitor, which predicts the likelihood of bankruptcy in the next 12 months, has given Rent The Runway their worst ranking possible. After examining the company’s financ…
Read the full article at: https://knrs.iheart.com/content/2023-12-04-popular-fashion-retailer-likely-to-declare-bankruptcy/