In the current bleak retail landscape, bankruptcies are happening so fast that it’s getting tough to keep up. This week’s Chapter 11 filings include the parent company of J. Crew and Madewell, both of which have a presence at Westfield Montgomery mall. The two chains are expected to survive the bankruptcy process without closing any stores. Gold’s Gym also filed Chapter 11 this week and is planning to reorganize, but 30 of its corporate-owned locations will be closing permanently. This bankruptcy filing does not affect the two Gold’s Gyms at Wintergreen Plaza and Rockville Town Square, both of which are independently owned by franchisees. But we do expect some closings for the Vienna-based Hair Cuttery chain, which also filed Chapter 11 and is now changing hands. All Hair Cuttery locations, along with sister chains Bubbles and Salon Cielo, will be under new ownership by summer. It’s unclear how many of them will reopen.
