The U.S. retail industry might be at the precipice of a massive wave of bankruptcies, according to multiple experts, as customers struggle with shrinking purchasing power amid rising inflation.
“We have potentially a perfect storm brewing,” Sally Henry, a professor of law at Texas Tech Law School and former partner at Skadden, Arps, Slate, Meagher & Flom LLP, said to CNBC. “I wouldn’t be surprised to see an uptick in retail bankruptcies.”
