While I, like many people, used to love browsing for new music at chains like Tower Records and Virgin Music, the economics of those businesses stopped making sense when digital downloads supplanted record sales. In the record business, subscription services such as Spotify and Apple Music made owning records and CDs a novelty rather than a necessity. A Taylor Swift fan might want to own an album as a souvenir, and a Jack White fan may buy a physical record for audiophile reasons, but those are exceptions ...

Prior to the pandemic, which tipped many retailers into bankruptcy, Moody’s vulnerable retailer list leaned more heavily toward apparel and department stores. Now, Sokolyanska sees a mix of sectors represented, including retail-adjacent companies.“The defaults in the retail sector remain elevated and our list of at-risk retailers is as long today as it was last year,” Raya Sokolyanska, vice president of corporate finance at Moody’s Ratings, said.As for retailers currently at risk, they’re facing many of the ...