Large Retailers Which Have Filed For Bankruptcy
Karmaloop
Karmaloop is real proof that even popular online shopping websites were not spared by the retail apocalypse of recent years. When it was founded in 2000 by Greg Selkoe, it enjoyed great fame as one of the go-to websites for hard-to-find streetwear brands. Karmaloop built its first brick and mortar location in 2005.
Selkoe later claimed that the shop never made any money and was subsequently closed in 2011. In 2015, Karmaloop filed for bankruptcy protection after being over $100 million in debt. It has since been acquired by Shiekh Shoes in March of 2016.
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