There is no law preventing them from doing this. On the contrary, it is referred to as "Bankruptcy Planning".
Below is a partial list of stores that you need to be cautious about.
- Circuit City (filed Chapter 11)
- Ann Taylor 117 stores nationwide closing
- Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide
- Eddie Bauer to close stores 27 stores and more after January
- Cache will close all stores
- Talbots closing down specialty stores
- J. Jill closing all stores (owned by Talbots) Pacific Sunwear (also owned by Talbots)
- GAP closing 85 stores
- Footlocker closing 140 stores more to close after January
- Wickes Furniture closing down
- Levitz closing down remaining stores
- Bombay closing remaining stores
- Zales closing down 82 stores and 105 after January
- Whitehall closing all stores
- Piercing Pagoda closing all stores
- Disney closing 98 stores and will close more after January.
- Home Depot closing 15 stores
- Macys to close 9 stores after January
- Linens and Things closing all stores
- Movie Galley Closing all stores
- Pep Boys Closing 33 stores
- JC Penney closing a number of stores after January
- Ethan Allen closing down 12 stores.
- Wilson Leather closing down all stores
- Sharper Image closing down all stores
- K B Toys closing 356 stores
- Loews to close down some stores
- Dillard's to close some stores