Over the past few months, various bankruptcies have occurred in the retail industry. However, it is not just the retail companies that have been under pressure. As we all know, many companies have been under a lot of pressure these past few years, especially in recent months. One of the main reasons is the economic pressure and the continuously increasing tariff rates. As a result of this, many companies find it difficult to remain productive and effective.
Details about this new wave
This new wave can be seen as the most startling corporate bankruptcies of 2025, at least thus far. It has been found that many corporate bankruptcies have increased over the past three years. In this article, the most startling bankruptcies of 2025 so far will be discussed, with a focus on the retail and restaurant industries.
Some important facts to take note is the fact that corporate bankruptcies have been increasing every quarter since June 2022. About 23,309 American businesses filed for bankruptcy over the 12-month period which ended on March 31, 2025.
This year in May 2025, Rite Aid filed for bankruptcy protection, and this will highlight its second time in under two years. The company is now in the process of selling off portions of its business piecemeal while it is focused on closing all of its remaining stores in waves.
The list of bankruptcies
In addition, other big brands that formed part of the bankruptcies this year include Hooters, 23andMe, and Forever 21. Below is a list of this year’s biggest business bankruptcies, with a focus on the retail and dining sectors.
Pinstripes
- Date: September 8
- Filing type: Chapter 11
Pinstripes is an Italian Restaurant chain which is based in Illinois that at its peak operated 18 locations. The company filed for Chapter 11 bankruptcy on September 8, 2025. It also listed between $100 million and $500 million in both assets and liabilities.
Inca Boot Company
- Date: September 4
- Filing type: Chapter 11
Inca Boot Company, which is known for its marvellous handmade Peruvian shoes and boots, filed Chapter 11 bankruptcy on September 4, 2025. The company listed between $0 and $100,000 in assets and between $100,001 and $1 million in liabilities.
Abuelo’s (Food Concepts International)
- Date: September 2
- Filing type: Chapter 11
Food Concepts International (FCI) is the parent company of Abuelo’s, which is known as a popular Mexican restaurant chain that once operated 40 restaurants in the American Southwest. FCI filed for Chapter 11 bankruptcy protection on September 2, and the company listed $10–$50 million in both assets and liabilities.
Dissent Craft Brewing
- Date: August 25
- Filing type: Chapter 7
Dissent Craft Brewing, a relatively young participant in the crowded craft beer space at just seven years old, filed for Chapter 7 bankruptcy liquidation on August 25. The listing is between $100,000 and $1 million in both assets and liabilities.
Car Toys
- Date: August 18
- Filing type: Chapter 11
Car Toys, which has been formerly known as the go-to independent chain for all things car stereo and electronics. The company filed for Chapter 11 protection on August 18, and the listing is between $10 million and $50 million in both assets and liabilities.
Sundance Holdings Group
- Date: July 2
- Filing type: Chapter 7
Sundance, actor Robert Redford’s beloved brainchild, also filed involuntary for Chapter 7 bankruptcy on July 2 after petitioners reported being owed a collective $2.5 million.
Rite Aid
- Date: May 5
- Filing type: Chapter 11
Rite Aid was once known as one of the largest and best-known pharmacy retailers in the United States. It filed for Chapter 11 bankruptcy protection on May 5. This indicates less than two years after its previous bankruptcy filing in October of 2023. Other companies that filed for bankruptcies are:
- Merit Street Media
- Del Monte
- CMX Cinemas
- Sound Vision Care
- CaaStle
- Caraway Tea
- Intrepid USA
- Nebraska Brewing Co.
- Bertucci’s Restaurant Corp.
- Royal Paper
- Hooters
- The Dolphin Company (Gulf World Marine Park)
- Bar Louie
- Plenty Unlimited
- 23andMe Holding Co.
- Forever 21
- Hudson’s Bay
- Watchtower Firearms
- Liberated Brands (Quicksilver, Billabong, RVCA, Roxy retailer)
- Books Inc.
- Joann
- Surf9 (Body Glove supplier)