Retail Bankruptcies, Administrations & Store Closures 2026 - A Running Market Watch
Last Updated: 9 July, 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: 16+
Major Store & Restaurant Closure Programs: 23+ (6 full fleet wind-downs; 2 full market exits; 2 brand wind-downs; 1 post-acquisition restructure; 12 network optimisation & strategic exit programs)
Most Impacted Categories: Apparel (mid-market, youth, streetwear, licensed sports & UK women's fashion), Footwear, Activewear, Luxury Department Store, Prestige Beauty, Discount Retail, Specialty Craft & Fabric, Outdoor Living & BBQ Specialty, Outdoor & Surplus, Furniture & Bedding (Manufacturing and Independent Retail), Mattress & Bedding Manufacturing, Gaming, Grocery & Convenience, F&B / Quick Service, Television Home Shopping
Geography Most Affected: United States (with significant restructuring activity across Australia, New Zealand, Singapore & United Kingdom)
Emerging Pattern: The pace of Australian retail administrations accelerated sharply across the first half of 2026, with 15+ insolvency events recorded across a remarkably diverse range of categories. Three structural forces are converging simultaneously: declining foot traffic in secondary and tertiary shopping centres making marginal stores unviable; the ATO resuming active debt recovery after its post-COVID pause, catching several businesses with accumulated tax liabilities; and tighter discretionary consumer spending squeezing big-ticket and non-essential categories. Long-standing Australian retail institutions including Betts (134 years), Lincraft (80+ years), A.H. Beard (126 years), Aussie Disposals and Barbeques Galore are among those unable to survive the combination. The collapse of Homemakers South Limited adds a new dimension to the story, it is not a retailer that has failed, but the buying group infrastructure behind dozens of independent retailers, with flow-on implications for the independents who relied on it for pricing, supply chain and marketing support. Globally, the US continues to see structural pressure on department stores, gaming retail and mid-market apparel, while the UK's high street faces its own cycle of repeat insolvencies. The contrast with the simultaneous boom in new store openings tracked in our companion piece is stark - physical retail is not dying, but it is bifurcating sharply between brands investing in experience and those caught in the middle. Read more in our Retail Store Openings, Expansions and Relaunches 2026 tracker.
July 2026
Betts
Country: Australia
Category: Footwear Retail
Event: Voluntary Administration / Major Network Restructure
Footprint Impact: Administrators from Pitcher Partners Melbourne appointed 24 June 2026. 20 of 35 remaining stores closing across WA (7), NSW (4), VIC (4), SA (3), QLD (1) and NT (1). 15 stores to continue trading including flagships in Sydney, Melbourne and Perth. Closing stores trading 4-8 weeks with minimum 50% discounts. Approximately 70 jobs affected, primarily in WA.
Notes: A sobering chapter for one of Australia's most enduring retail institutions. Founded in 1892 by Fanny Breckler as a small bootmaker's shop in Perth, Betts grew to nearly 220 stores nationally and became a staple of the Australian back-to-school shopping calendar for generations. The fifth-generation family business had been progressively closing stores in response to declining foot traffic and the shift to online shopping. A strategic rebrand and relaunch in October 2025, led by Frank Body co-founder Jessica Hatzis, was not enough to arrest the decline. Administrator Lindsay Bainbridge remains cautiously optimistic: "Australians grew up with Betts shoes, they know and love the brand, and we believe it has a strong outlook as a more streamlined operation." The 134-year-old business joins Lincraft, A.H. Beard and Barbeques Galore in a growing list of long-standing Australian specialty retailers facing existential pressure in 2026.
June 2026
Stax
Country: Australia
Category: Activewear Retail
Event: Receivership
Footprint Impact: Brand placed into receivership June 2026. Store network and online operations status under review by receivers.
Notes: Stax built a significant social media-driven following as one of Australia's most recognisable homegrown activewear brands, with a strong presence in the premium gym and athleisure category. The receivership is a striking contrast to the broader activewear category story in 2026, where international brands including ALO Yoga, New Balance and LSKD are aggressively expanding their Australian physical retail presence. A reminder that domestic brand success on social media does not automatically translate to sustainable retail economics.
Homemakers South Limited (Furniture House Group / Homemakers Furniture and Bedding Specialists)
Country: Australia
Category: Furniture & Bedding Retail / Independent Buying Group
Event: Voluntary Administration
Footprint Impact: Administrator David Coyne appointed 29 June 2026 under section 436A. First creditors meeting held virtually 8 July 2026. Impact on member store network across Victoria, New South Wales, South Australia, Tasmania and Western Australia under review. Outcome pending.
Notes: Homemakers South Limited is not a typical retailer, it operates as Australia's largest independent furniture buying, advertising and marketing group, representing over 40 independent furniture and bedding retailers nationally under the Furniture House Group and Homemakers Furniture and Bedding Specialists trading names. Founded in 1958 as Newfurn Furniture and rebranded progressively through First Choice Furniture to its current identity, the group's model of collective bargaining gave independent operators access to national buying power, shared marketing and bulk importing. The administration of the central group entity puts that shared infrastructure at risk, with flow-on implications for the independent member stores that rely on it for pricing, supply chain and marketing support. A particularly significant development given the broader homewares category pressure in 2026, with big-ticket furniture spending among the categories most impacted by consumer cost-of-living caution.
Geedup
Country: Australia
Category: Streetwear / Youth Apparel Retail
Event: Liquidation (ATO Wind-Up)
Footprint Impact: Full liquidation following a successful wind-up application by the Australian Taxation Office. Operations ceased June 2026.
Notes: Geedup built a cult following in Australian streetwear, known for limited drops and strong community engagement. The ATO-initiated wind-up suggests the business had accumulated significant tax liabilities, a pattern seen across several small to mid-sized Australian retailers in 2026 as the ATO resumes active debt recovery following its post-COVID pause. A cautionary tale about the gap between brand heat and business fundamentals.
Lincraft
Country: Australia / New Zealand
Category: Specialty Craft & Fabric Retail
Event: Full Network Closure / Wind-Down
Footprint Impact: All 67 stores across Australia and New Zealand closing progressively, with online operations continuing. The business has been trading for over 80 years, formerly known as Suzanne Silks before being restructured and rebranded as Lincraft Australia in 2005.
Notes: Lincraft cited "a prolonged period of challenging retail conditions," pointing to shifts in consumer behaviour, rising costs and pressure from overseas low-cost competitors, a familiar combination driving closures across discretionary specialty retail in 2026. Co-founder John Maguire acknowledged the significant human impact: "Lincraft has been part of Australian and New Zealand communities for generations." The closure marks the end of one of Australia's most recognisable craft retail brands and leaves a significant gap in the specialty fabric and haberdashery category, one that online players and discount importers are likely to fill rather than a domestic bricks-and-mortar successor.
Barbeques Galore
(First entered voluntary administration February 2026, updated June 2026 following collapse of rescue)
Country: Australia
Category: Outdoor Living & BBQ Specialty Retail
Event: Voluntary Administration → Rescue Collapse → Full Wind-Up
Footprint Impact: All 62 company-owned stores entering wind-up or liquidation process from 16 June 2026. 27 franchise stores entering transition arrangements with receivers Ankura. Customers have until 30 June 2026 to redeem gift cards.
Notes: A dramatic collapse of what appeared to be a viable rescue. Gordon Brothers, who had only acquired Barbeques Galore from private equity firm Quadrant in December 2025, proposed a Deed of Company Arrangement (DOCA) involving a $5 million creditor payment and absorption of $6.6 million in employee entitlements. The DOCA received overwhelming creditor support at a May 22 creditors meeting, with the potential to save around 500 jobs. But the deal fell apart when no offers "capable of acceptance or implementation" emerged for the group's sale. Receivers Quentin Olde, Luke Pittorino and Liam Healey of Ankura are now managing the wind-up — one of the most significant full closures of an Australian specialty retail institution in 2026. The collapse is particularly notable given Barbeques Galore had already survived one near-death experience since entering administration in February 2026, suggesting the structural challenges facing mid-market specialty retail are deeper than a single recapitalisation can fix.
May 2026
Adairs
Country: Australia / New Zealand
Category: Homewares & Lifestyle Retail Event: Full New Zealand Market Exit
Footprint Impact: All 7 New Zealand stores closing, following the switch-off of its NZ online store in May 2026. Australian operations continue with new store openings planned alongside up to 5 Focus on Furniture refurbishments.
Notes: Adairs described the decision as "difficult," thanking NZ customers and staff for their loyalty over the years. The exit follows a challenging first half of FY26 in which after-tax profits fell more than 30 per cent year on year, prompting CEO Elle Roseby to signal the need to "reposition and reset" the business. The NZ closure is the latest chapter in a broader store-driven reset strategy, and sits in sharp contrast to the simultaneous launch of Adairs' new home concept store format at Westfield Bondi Junction that same month, suggesting the group is concentrating investment in the Australian market rather than spreading across the Tasman. Worth watching alongside Mocka's move in the opposite direction, expanding from NZ into Australia under the same Adairs Group umbrella. Read more in our Retail Store Openings tracker.
Stateside Sports
Country: Australia
Category: Licensed Sports Apparel Retail
Event: Voluntary Administration / Network Wind-Down
Footprint Impact: 31 stores at administration appointment in May 2026. As of 8 July 2026, only 18 stores remain listed on the Stateside Sports website, indicating more than 13 locations have already closed. Administrators DVT McLeods are pursuing a sale as a going concern with a leaner store footprint. Outcome pending.
Notes: Stateside Sports was founded in 2017 and built a strong following for licensed NFL, NBA and MLB merchandise alongside premium streetwear brands including Nike, Mitchell & Ness and New Era. Administrators described it as "a compelling acquisition opportunity" with strong brand awareness and scalable e-commerce infrastructure. A warehouse sale with discounts of up to 70% off is currently underway. The administration reflects ongoing pressure on specialty licensed sports retail, where margins are tight and competition from direct brand channels and global online platforms is intensifying.
Quiz Clothing
Country: United Kingdom
Category: Women's Fashion Retail
Event: Administration & Full Fleet Wind-Down (Third in Six Years)
Footprint Impact: All 37 remaining standalone stores closing by end of June 2026; three locations (Castlecourt, Leeds and Romford) have already shut; clearance sales underway with minimum 60% off across all stock.
Notes: Quiz entered administration for the second time in 12 months on 5 February 2026, with Interpath appointed as joint administrators. The retailer cited rising tax and business costs and a disappointing Christmas trading period in 2025. The brand has undergone multiple insolvency proceedings and faced mounting competition from ultra-cheap online rivals over many years.
April 2026
QVC Group (QVC & HSN)
Country: United States
Category: Television Home Shopping / Multi-Channel Retail
Event: Chapter 11 Bankruptcy
Footprint Impact: US operations continuing during restructuring; international operations not included in the filing; no planned layoffs or furloughs.
Notes: QVC Group filed for voluntary Chapter 11 on 16 April 2026, targeting a reduction in debt from $6.6 billion to $1.3 billion within approximately 90 days. The company's core distribution channel — linear cable television — had contracted structurally, with total customers falling by nearly 900,000 year-on-year. QVC Group cited the bankruptcy as a mechanism to substantially reduce debt and strengthen its financial position, while continuing to pursue live social shopping across platforms, streaming apps, ecommerce and TV channels.
A.H. Beard
Country: Australia
Category: Mattress & Bedding Manufacturing / Retail
Event: Collapse / Administration
Footprint Impact: Full collapse of the 126-year-old mattress manufacturer and retailer, attributed in part to tighter discretionary spending by consumers.
Notes: Founded in 1899, A.H. Beard was one of Australia's oldest and most respected mattress manufacturers, supplying major retailers as well as operating its own direct channels. The collapse underscores the acute pressure on big-ticket discretionary categories, furniture, bedding and homewares, as consumers pull back on large purchases amid cost-of-living pressures. The irony is not lost that A.H. Beard collapsed in the same year that homewares physical retail is simultaneously experiencing one of its most active expansion periods, with Kmart K Home, Adairs, Mocka and Castlery all opening new formats.
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.
Aussie Disposals
Country: Australia
Category: Outdoor & Surplus Retail
Event: Voluntary Administration → Liquidation
Footprint Impact: Entered administration March 2026 owing $4 million to creditors across 7 company-owned stores in Victoria, South Australia and NSW. Company-owned stores ceased trading 26 June 2026. Aussie Disposals Pty Ltd subsequently entered liquidation. Nine former franchise stores continue to trade independently, with some licensing the Aussie Disposals name, located in Bairnsdale, Ballarat, Bendigo, Melbourne CBD, Sale, Sunbury, Traralgon and Warragul (VIC) and Wagga Wagga (NSW).
Notes: Aussie Disposals survived voluntary administration in 2020 following a restructure, but was unable to recover a second time. Founded in Victoria in 1962, the business first made its name selling military surplus before expanding into outdoor and camping. The $4 million creditor liability and ultimate liquidation signals that the brand's positioning between discount and specialty outdoor retail left it exposed on both sides, undercut by pure discount players and outflanked by premium outdoor brands expanding their own direct networks. The Aussie Disposals name lives on through independent operators, but the central business is gone.
Foot Locker (via Dick's Sporting Goods)
Country: United States Category: Footwear & Sporting Goods Retail
Event: Store Closures (Post-Acquisition Restructure)
Footprint Impact: Up to 400 underperforming locations targeted for closure through 2026, with phased rollout continuing from Q1; focus on exiting low-traffic mall formats in secondary markets.
Notes: Dick's Sporting Goods acquired Foot Locker in a $2.4 billion deal and is now restructuring the business, clearing unproductive inventory and closing underperforming stores. The company described the process as needing to "clean out the garage." The strategy prioritises a shift to off-mall "power store" formats, with the broader fleet rightsizing expected to conclude by back-to-school 2026.
Saks Global (Saks Fifth Avenue, Neiman Marcus, Saks Off 5th)
Country: United States Category: Luxury Department Store
Event: Chapter 11 Bankruptcy - Expanded Store Closure Program
Footprint Impact: A second round of closures announced on 6 March adds 12 Saks Fifth Avenue and 3 Neiman Marcus locations, bringing total planned department store shutdowns to 24. The company will retain just 13 full-line Saks Fifth Avenue stores and 32 Neiman Marcus locations. Additionally, 57 of 70 Saks Off 5th stores are closing, with only 12 outlets retained to handle residual inventory.
Notes: Saks Global subsequently cut approximately 640 corporate jobs and received court approval for its restructuring plan, with a potential Chapter 11 exit targeted for summer 2026. The company is targeting $9 billion in gross merchandise value and profitability by 2030.
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.
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.
Barbeques Galore(See updated entry under June 2026)
Country: Australia
Category: Outdoor Living & BBQ Specialty Retail
Event: Voluntary Administration
Notes: Barbeques Galore entered voluntary administration in February 2026 following acquisition by Gordon Brothers from private equity firm Quadrant in December 2025. A rescue via Deed of Company Arrangement was proposed but ultimately collapsed — see full updated entry under June 2026.
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.