The retail and fashion landscape has faced significant turbulence throughout 2025 and into early 2026 . High interest rates, shifting consumer behavior, and the fallout from aggressive debt fueled acquisitions have pushed several iconic brands and massive retail groups into Chapter 11 or similar restructuring processes.
This report ranks the top 10 most significant fashion and retail bankruptcies that will unfold through 2026 , focusing on their financial impact, brand prominence, and current status. Executive
Summary The following table summarizes the top 10 bankruptcies ranked by the severity of their financial liabilities and brand scale.
Rank Brand / Company Filing Date Estimated Liabilities Current Status 1 Saks Global January 13, 2026 $1B – $10B Secured $1.75B in DIP financing; restructuring 2 Forever 21 March 16, 2025 $1.58B Liquidation sales in progress; closing all stores 3 Hudson's Bay Company March 7, 2025 $500M+ CCAA filing; liquidating remaining 80 stores 4 Claire's August 6, 2025 $496M Selling North American business to Ames Watson 5 Pat McGrath Labs January 22, 2026 $100M – $200M Chapter 11; halted asset sale for restructuring 6 SSENSE August 15, 2025 $300M+ CCAA filing; sale transaction expected Feb 2026 7 Joann Fabrics May 15, 2025 $500M+ Second filing; closing numerous locations 8 Mosaic Brands July 1, 2025 Not Specified In liquidation; second liquidator appointed 9 Lugano Diamonds November 16, 2025 Not Specified Chapter 11: pursuing value maximizing sale 10 SKKN by Kim September 12, 2025 Not Specified Shuttered operations; brand winding down 1.
Saks Global Saks Global filed for bankruptcy on January 13, 2026 , only months after being created as the parent entity…
