- SII: RETAIL -
RETAIL "CHART OF DOOM" WITH "Toys R Us"
After claiming its 27th victim of the year in the form of the Toys 'R' Us bankruptcy filed earlier this morning, the Amazon-induced retail bloodbath of 2017 has just turned full-on apocalyptic. According to data aggregated by Reorg First Day, the Toys "R" Us filing brings the total amount of defaulted retail debt to over $14 billion so far in 2017.
All of which should be sufficient to drive U.S. equity markets to fresh new highs before the end of the day.
Meanwhile, according to Bankrupty Data, Toys "R" Us marks the third largest U.S. retail bankruptcy in history, based on assets, exceeded only by Kmart and Federated Department Stores...
...and here is how the 2017 retail bankruptcies have stacked up.
Of course, the real question is whether the 3rd largest retail bankruptcy in U.S. history is enough to once again push Amazon's Jeff Bezos to the tot he world's list of wealthiest men.