(Matt Egan – CNN Money)
A growing number of traditional American retailers are in intensive care -- and Amazon put many of them there.
The number of distressed U.S. retailers has tripled since the Great Recession and now stands at the highest level since the end of the downturn, according to a recent Moody’s Investors Service report.
These companies are grappling with intense competition, “erratic management” and limited financial flexibility, Moody’s said.
The 19 retail and clothing companies on the distressed list include Sears and Kmart owner Sears Holdings, J. Crew, Payless, Claire’s, Rue21 and True Religion. Click here to read more.