J.Crew files for Chapter 11 as pandemic chokes retail sector

[TexasTowelie]

NEW YORK — Struggling fashion brand J.Crew has filed for bankruptcy protection, the first major retailer to do so since the coronavirus pandemic forced most stores across the United States to close their doors.

More retail bankruptcies are expected in coming weeks, with Neiman Marcus and J.C. Penney also facing problems. Gap Inc. has warned it is running out of cash and is looking for an infusion.

Thousands of retail stores across the country remain closed, though some states have begun staggered restarts of their economies.

J.Crew, like a number of major retailers, was already in trouble before the pandemic. It had grown from a preppy 1990s fashion staple to an "it" brand worn by former First Lady Michelle Obama and featured at New York Fashion Week. But at some point in recent years, its fashion choices began landing with a clunk in the highly competitive retail sector.

Read more: https://www.nwitimes.com/business/local/j-crew-files-for-chapter-11-as-pandemic-chokes-retail-sector/article_5f905e1c-0dd0-56a1-b88d-6e969d826108.html

[smirkymonkey]

1. I used to really like their clothes when they were a little preppier and basic.

The quality was much better. Lately they have gone more "high fashion" and their clothing has become more cheaply made, way too expensive and of inferior quality. It falls apart very quickly. They had a niche and they blew it. I find that most apparel stores seem to be following the same model. I expect more failures to occur down the line.