14 Long Island Retailers On Verge Of Bankruptcy: Report

The ranks of distressed retailers is set to keep growing over the next 12 to 18 months, and 14 that have stores on Long Island are on the verge of bankruptcy and could be subject to closure, according to a newly released Moody's Investors Service report.

Overall, 22 national retailers had debt ratings of Caa or lower — higher than the number of bankrupt-leaning retailers during the Great Recession of 2008-2009. Debt rated at Caa or below is the lowest rank on Moody's credit rating spectrum. A total of 14 of those have Long Island locations.

"The majority of retailers remain fundamentally healthy," Moody's Lead Retail Analyst Charlie O'Shea said in a press release. "But as select groups of retailers continue to deteriorate — in particular department stores and specialty retailers — we believe the distressed ranks will keep growing, fueled in part by distinct vulnerabilities."

Check out the list of retailers with stores on Long Island that are on the verge of bankruptcy:

• Charlotte Russe - stores in Massapequa, Garden City, Hicksville, Valley Stream, Deer Park, Bay Shore, Lake Grove and Riverhead
• Charming Charlie - stores in Bay Shore and Garden City
• Claire's Stores - stores in Massapequa, Garden City, Carle Place, Hicksville and Riverhead
• David's Bridal - stores in Westbury, Massapequa Park and Lake Grove
• Eddie Bauer - stores in Deer Park and Riverhead
• Fairway - stores in Westbury and Plainview
• Gymboree - stores in Deer Park, Garden City, Riverhead and Lake Grove
• J. Crew - stores in Garden City, Manhasset, Huntington Station, Lake Grove, East Hampton and Southampton
• Kmart - stores in Bohemia, West Babylon, Huntington, Farmingville, Riverhead and Bridgehampton
• Neiman Marcus - store in Garden City
• Nine West - stores in Oceanside, Deer Park and Riverhead
• Savers - stores in West Hempstead, Garden City, Lawrence, Commack, Holbrook, East Setauket, Port Jefferson Station, Selden, and Medford
• Sears - stores in Massapequa, Hicksville, Garden City, Valley Stream, West Babylon, Lake Grove, East Northport
• True Religion - stores in Riverhead and Garden City

The report, "US Retail and Apparel: B2/B3 Issuers Gain Spotlight As Distressed Retail and Apparel Ranks Grow," provides an overview of factors that impact companies at these rating levels. Click here to obtain the full report.

Tom Davis contributed to this report.