5 Retail Giants Filing For Bankruptcy In 2022

Between growing debt, dwindling sales, inflation, and changing customer preferences, many retailers have become vulnerable. Here's a look at some retail giants that filed for bankruptcy in 2022

BH Cosmetics

Sector: Beauty

In January 2022, Los Angeles-based BH Cosmetics filed for Chapter 11 bankruptcy. The direct-to-consumer brand admitted in court papers it faced “increased competition” in the beauty category, rising material costs, and supply chain disruptions, amongst other challenges, according to a report by WWD. Launched in 2009, the company produced vegan and cruelty-free cosmetics and cemented several celebrity collaborations, including with Doja Cat and Iggy Azalea. The company also had large creditors based in China that were owed over $5.9 million. In February 2022, BH Cosmetics was bought out of bankruptcy by U.K.-based Revolution Beauty Group, which acquired certain BH intellectual property assets and inventory for $3.9 million, consolidating the retailer into the group’s operations

Missguided

Sector: Apparel