Retail Bankruptcies, Administrations & Store Closures 2026 – A Running Market Watch
Last Updated: 18 March, 2026
At RetailOasis, we believe understanding failure is as important as studying success. This live tracker documents retail bankruptcies, administrations and significant store closures across Australia and globally.
Our goal isn’t to sensationalise, it’s to observe patterns, identify signals, and help retailers stay ahead of structural change.
2026 Snapshot (Year to Date)
Total Bankruptcies / Administrations: 6
Major Store & Restaurant Closure Programs: 10 (2 full fleet wind-downs; 2 full market exits; 1 brand wind-down; 5 network optimisation & strategic exit programs)
Most Impacted Categories: Apparel (mid-market, youth & outdoor), Luxury Department Store, Prestige Beauty, Discount Retail, Gaming, Grocery & Convenience, F&B / Quick Service, Specialty Retail
Geography Most Affected: United States (with significant restructuring activity across Australia, New Zealand & Singapore)
Emerging Pattern: Debt exposure, margin compression, digital substitution and shifting consumer demand accelerating both insolvency events and strategic footprint rationalisation across discretionary retail and food & beverage segments.
March 2026
T2 Tea
Country: Australia (Singapore Operations)
Category: Specialty Tea Retail
Event: Full Market Exit (Store Closures)
Footprint Impact: All 3 Singapore stores closing between March 20–25 (VivoCity, 313@Somerset and Suntec City); online store and Australian & New Zealand operations continue trading.
Notes: The exit marks the end of T2 Tea's nine-year presence in Singapore. No official reason has been disclosed, though the brand has previously exited the UK and US citing challenging trading conditions. A spokesperson indicated stores are closing indefinitely, with the possibility of re-entry assessed in future.
February 2026
Glue Store (Accent Group)
Country: Australia
Category: Youth Fashion & Footwear Retail
Event: Brand Wind-Down / Store Closures
Footprint Impact: Remaining 16 Glue stores to close or transition by end of Q4 FY26; business to be wound down or sold.
Notes: Glue recorded an EBIT loss of $8.4m in H1 FY26. Accent Group recognised impairment charges, inventory write-downs and restructuring provisions before deciding to exit the business entirely.
Barbeques Galore
Country: Australia
Category: Outdoor Furniture & BBQ Retail
Event: Voluntary Administration
Footprint Impact: 68 company-owned stores affected; 27 franchise stores not impacted; approximately 500 employees.
Notes: Administrators cited ongoing liquidity challenges and cash flow pressures. The business posted $172m revenue in FY2024 with a pre-tax loss of $16.1m. The company is expected to be restructured or sold.
Francesca’s
Country: United States
Category: Women’s Fashion Retail
Event: Chapter 11 Bankruptcy (Second Filing in Six Years)
Footprint Impact: Approximately 400 leased stores entering phased liquidation; around 3,000 employees impacted.
Notes: The company cited constrained liquidity following prior restructuring, ongoing supply chain disruption, increased competition from e-commerce, inflationary pressures and a failed alternative financing process. Francesca’s has approximately $30 million in secured debt and has commenced store closing sales across its fleet.
Wendy's
Country: United States
Category: Quick Service Restaurant (F&B)
Event: Restaurant Closures (System Optimisation)
Footprint Impact: Approximately 300 US restaurants closing in 2026, representing 5-6% of its total domestic footprint.
Notes: Closures follow the shuttering of 240 locations in 2024 and are part of the company's strategy to strengthen franchisee economics and focus investment on higher-performing locations.
Pizza Hut
Country: United States
Category: Quick Service Restaurant (F&B)Event: Restaurant Closures (Strategic Review)
Footprint Impact: Approximately 250 US locations closing in the first half of 2026.
Notes: US same-store sales declined 3% in Q4 2025. Parent company Yum! Brands is conducting a broader strategic review of the Pizza Hut brand. International operations continue to grow.
Eddie Bauer (North America Stores Operator)
Country: United States & Canada
Category: Apparel & Outdoor Retail
Event: Chapter 11 Bankruptcy & Full Store Wind-Down
Footprint Impact: 175 stores closing across the U.S. and Canada (down from ~220 at the start of the year); closures expected by April 30 unless a buyer emerges.
Notes: The stores operator cited sustained negative earnings driven by macroeconomic pressures, inflation, shifting consumer preferences and supply chain challenges. Brick-and-mortar operations carry liabilities exceeding $1 billion, while wholesale and e-commerce operations continue under separate licensing arrangements.
January 2026
Cheap as Chips
Country: Australia
Category: Discount Variety Retail
Event: Voluntary Administration & Business Sale
Footprint Impact: 44 of 47 stores to be sold to Choice; 3 stores (Albury, Wonthaggi, Windsor Gardens) closing prior to completion; approximately 525 employees.
Notes: Administrators were appointed to oversee a proposed restructure and sale following a reported $34.9m loss in the prior financial year. The majority of stores are expected to continue trading under Choice ownership.
EB Games (New Zealand Operations)
Country: New Zealand (Parent: GameStop, United States)
Category: Gaming & Entertainment Retail
Event: Full Market Exit (Store Closures)
Footprint Impact: All 38 New Zealand stores closing; distribution centre to shut February 28. Australian operations (336 stores) continue trading.
Notes: The New Zealand business was deemed commercially unviable following reported multimillion-dollar losses in FY2024. The closure represents a complete country withdrawal rather than a group insolvency.
David Jones
Country: Australia
Category: Premium Department Store
Event: Store Closures (Network Optimisation)
Footprint Impact: 2 stores closing (Castle Towers and Tuggerah, NSW); customers redirected to nearby locations and online.
Notes: The company cited ongoing retail network optimisation, right-sizing and investment in omnichannel capabilities. Closures form part of a broader transformation strategy focused on consolidation and digital growth rather than insolvency.
REI (Recreational Equipment, Inc.)
Country: United States
Category: Outdoor & Sporting Goods Retail
Event: Store Closures (Profitability Restructure)
Footprint Impact: 3 stores closing in 2026 (Paramus, NJ in Q1; SoHo, NYC and Boston later in 2026).
Notes: The closures follow declining sales (down 6.2% to $3.53bn) and a net loss of $156.4m in FY2024. The company cited the need to adapt to evolving customer needs and return to profitability amid broader outdoor industry pressure.
Amazon Fresh & Amazon Go
Country: United States
Category: Grocery & Convenience Retail
Event: Full Concept Exit (Store Closures)
Footprint Impact: All 57 Amazon Fresh and 15 remaining Amazon Go stores closing; a limited number expected to reopen as Whole Foods locations.
Notes: Amazon announced it would close the stores and instead expand its same-day grocery delivery capacity and Whole Foods Market footprint. Online grocery delivery operations continue unaffected.
Saks Global (Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman)
Country: United States
Category: Luxury Department Store
Event: Chapter 11 Bankruptcy
Footprint Impact: Stores remain open during restructuring; operations supported by $1.75bn financing package.
Notes: The filing follows a debt-heavy $2.7bn merger that combined Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. Revenue declined 13% in the prior quarter, vendors withheld inventory amid overdue payments, and the group listed between $1bn and $10bn in assets and liabilities. The company cited restructuring and balance sheet pressure as the primary drivers.
Macy's
Country: United States
Category: Department Store
Event: Store Closures (Network Optimisation)
Footprint Impact: 14 stores closing across 12 states in Q1 2026, as part of a broader plan to close approximately 150 underperforming locations by end of 2026.
Notes: Closures are part of the company's "Bold New Chapter" turnaround plan, with simultaneous investment in its 350 go-forward locations. The company reported its strongest sales growth in more than three years alongside the closures.
GameStop
Country: United States
Category: Gaming & Entertainment
Event: Major Store Closures (Portfolio Optimisation)
Footprint Impact: Over 470 locations closed or marked for closure across 43 states in January 2026; company not in insolvency.
Notes: Closures follow the shuttering of 590 stores in the prior fiscal year, reflecting the structural decline of physical game retail as digital distribution becomes the dominant format.
Pat McGrath Labs
Country: United States
Category: Beauty & Cosmetics
Event: Chapter 11 Bankruptcy
Footprint Impact: Operations continuing during restructuring; assets and liabilities estimated between $100m–$200m; between 200–999 creditors.
Notes: The brand cited an unsustainable capital structure, accumulated legacy liabilities and liquidity constraints following a $17.5m loan secured in 2025. Once valued at $1bn, the company’s valuation had fallen significantly amid debt pressure, investor exits and repeated restructuring attempts.