Ice Miller partner Louis T. DeLucia was quoted in the Law360 article, “A Key Word For Bankruptcy In 2026 Is 'Retail'.”

The article included:

So far in 2026, the steady flow of retailers entering bankruptcy has continued, after last year saw names like Claire's and Forever 21 enter Chapter 11 for a second time.

But while Claire's successfully saved much of its business, other companies have been holding going-out-of-business sales and dramatically shrinking their store footprint, while splitting intellectual property rights off to e-commerce buyers.

"There is a likelihood of more bankruptcies, particularly since tariffs are not resolved," said Louis T. DeLucia, chair of Ice Miller LLP's national bankruptcy and restructuring practice, adding that there will also be political pressure to relieve the affordability crisis for many American households.

There are three tranches of retailers now charting paths into and through bankruptcy, according to DeLucia: the large companies like Saks with massive financial backing; mid-level companies including Eddie Bauer's operator with the flexibility to run sales; and the smaller companies like Francesca's, which "just don't have the financial backing" to do much but wind down, the Ice Miller partner said.

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