J. Crew files for bankruptcy amid coronavirus lockdowns

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J. Crew announced it's filing for bankruptcy protection. It's the first national retailer to take this action since the coronavirus pandemic forced companies to close their stores. J. Crew's sales had slipped in recent years, and it is nearly $2 billion in debt. The retailer says it expects to stay in business and emerge from bankruptcy as a profitable company.

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How can you logically continue to run a business that's billions in debt like that....they should have cut their losses years ago.

ammo

People don’t want to buy overpriced crap!!!

Getitdone

I don't think I've ever been in a J Crew store in my life so I'll survive.

jimpantherdrivervickers

Damn I'm really gonna miss paying $75 for a pair of pants that cost $0.10 to make by little Chinese kid servants!

trippyraspo

Sweet. Too many stores overpriced retailers. Can’t wait to hit their clearance section before the doors close.

mr.winkie

Blah. They peaked in the 1990s/early-2000s and then dug their own grave every year thereafter with their tired style, outrageous prices and inability to evolve. Most of their stores have been ghost towns for years.

ragnarocking

Their foot traffic has been particularly abysmal for many years.

AvecPoesie

This was already in the works way before COVID hit. The fact is, all brick and mortar is suffering with shoppers mostly buying online. They’ll be fine.

MonkeyBarz

Whats up with almost every news outlet channel having very low volume? Am I the only one noticing this?

InternationalSpaceForce

CBS you need to normalize your audio to boost it to be heard

dozenskillzproductions

Andrew Yang’s warning about retail store job losses is coming true a little sooner than he thought

gshak

How can a retail clothing company stay in business with ~2 Billion in debt? I mean, it's well known that their quality has been going downhill for years, presumably because of penny-pinching mis-management. I'm sure a few execs got bonuses when they started dropping quality. If only every bloodsucking corporation got it's comeuppance, that would be marvelous.

spuriustadius