Saks Global, a conglomerate of luxury department stores, filed for bankruptcy in January 2026, marking a major retail collapse post-COVID-19. Other big department store bankruptcies include Lord & Taylor, Neiman Marcus, J.C. Penney, Barneys New York, and Sears, which emerged from bankruptcy after a $5.2 billion takeover bid. Various retailers like Claire’s, Rite Aid, Joann Fabrics, Party City, and Lugano Diamonds faced bankruptcy due to economic challenges or inventory shortages. Brands like Bed Bath & Beyond, Christmas Tree Shops, Tailored Brands, Ascena, and Brooks Brothers also fell into bankruptcy in recent years.

Read more at Yahoo Finance: Factbox-Biggest US retail collapses in recent years as Saks Global files for bankruptcy