The COVID-19 pandemic has caused thousands of store closures and financial woes for the retail industry. Now, regional department store Belk can be added to that list. The popular retailer has officially filed for Chapter 11 bankruptcy in an effort to secure a future for the nation’s largest privately owned department store. Read on to see what this development could mean for the company, and for more on shopping destinations that have fallen victim to the pandemic, check out This Beloved Chain Is Closing All Its Stores.
Belk’s bankruptcy plan, which was filed in a Houston courtroom on Feb. 23, would relieve the company of $450 million in debt and
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