A number of struggling U.S. retailers may be able to bounce back from bankruptcy thanks to relief provided by creditors, landlords and vendors.

A growing number of the above-mentioned parties are exercising debt forgiveness, a process that minimizes the losses of retailers' suppliers and allows companies the opportunity to recover from bankruptcy, Reuters reports.

Many distressed retailers, including Rue21 and Toys R Us, have struggled with large piles of debt. Some analysts blame poor marketing and an inability to adapt to changing consumer needs as primary causes of the financial issues.

Chains are now arguing they will be able recover if debt is reduced and payment obligations are eased, an option creditors seem amenable to because liquidations are likely to produce only a small portion of what they are owed. Another reason creditors are exercising debt forgiveness is because retailers with a strong brand may be able to improve operations, making it more desirable for creditors to forgive some debt in exchange for equity stakes that could eventually provide a profit, Reuters reports.

Landlords are similarly seeing value in offering forgiveness as it is better than trying to find another tenant during a time when vacancies are running high.

Vendors, meanwhile, are beginning to offer longer payment terms so that retailers can free up working capital and continue to operate. In return, they are promised full repayment on their claims.