With more than half of 2017 still ahead, the retail industry is seeing a record-setting pace for bankruptcy filings and store closings — and more are expected, CNBC reported.
This tipping point for retail is the result of a number of compounding reasons, but the inability to pay looming, massive debt bills is dealing the final death blow to many.
For some retailers, it's time to pay their creditors.
U.S. & World
The problem is, the debt loads are bigger than many can handle, and there's no time left to make up the cash needed.