The closures are part of a trend that could push the number of shuttering stores above 12,000 next year.
As the retail industry struggles with slowing consumer spending and a shift to online shopping, banks are exacerbating the companies funding troubles by paring back financing.
Nervous suppliers reportedly had been asking for cash upfront.
Retailers' e-commerce strategies are expensive and generally don't work.
Experts say that distress among five portfolio companies isn't likely to create any serious problem for Bain.
Puerto Rico faces a long road to recovery following Hurricane Maria's devastation three weeks ago. The already-poverty stricken U.S. territory already held over $70 billion in debt prior to the storm.
The activist investor may not have gotten exactly what he wanted at the multinational conglomerate but he is likely pleased with the company's spinoff moves.