Smith Collection/Gado/Getty Images Retailers are already filing for bankruptcy in 2020. Papyrus and Earth Fare are two major names that are slated to shut down all remaining stores. Not all retail bankruptcies result in outright liquidation, however. Companies can also use bankruptcy as an opportunity to turn things around financially. Visit Business Insider's homepage for more stories. 2020 has only just begun, but the first retail bankruptcy filings of the year are already underway.