The retail industry seems to be facing one of its worst crises in recent times. When Payless ShoeSource on Tuesday filed for Chapter 11 bankruptcy protection, it became the 10 th retailer to do so in roughly the first quarter of this year. That happens to be the highest number of retailer filings for bankruptcy protection since 2009, when 18 retailers did so for the entire year, according to a CNBC report that cited data from consulting firm AlixPartners. Also this week, premium lifestyle goods retailer Ralph Lauren announced that it is closing down its flagship Polo store on Manhattan’s Fifth Avenue. Wharton marketing professor Peter Fader said the metaphor of a tsunami hitting the retail industry is an apt one to describe the recent spate of bankruptcy filings this year. “You know the tsunami is coming,” he added.…