Pharmacy chain Rite Aid (RAD) filed for Chapter 11 bankruptcy. BDO National Leader of Restructuring and Turnaround Services Practice David Berliner says that for some retailers, it's really about the health of the consumer, stating "we've been seeing consumers focusing on on essential goods and cutting back on discretionary goods and many of the bankruptcies we've seen this year have been for retailers that sold primarily discretionary goods." Berliner tells Yahoo Finance Live that the holiday season is "pivotal" for most retailers and that he thinks "there are going to be winners and losers this holiday season. As consumers tighten up some of the purchases they might be making... some retailers will survive and do well and other won't and that will dictate, I think, some of the retailers that may end up filing for bankruptcy... probably after the holiday season."

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