Update: Preppy retailer J.Crew files for bankruptcy

[gdale6]

• J. Crew is preparing for a bankruptcy filing that could come as soon as this weekend, people familiar with the matter tell CNBC.
• The privately held company is working to secure $400 million to fund operations in bankruptcy, the people said.
• J. Crew was already struggling with a heavy debt load. Its woes have been worsened by the coronavirus pandemic. 

https://www.cnbc.com/2020/04/30/coronavirus-j-crew-prepares-bankruptcy-filing-that-could-come-this-w...

[sccredit]

I expect that we will see a lot of retail bankruptcies over the next few months.  Retail has been thrashed over the last few years and the pandemic will be the last nail for a lot of companies.  Hopefully most can come out of bankruptcy leaner and stronger.  

[blindambition]

This is sad, but not surprising. They were my go to when growing up.

Bad business choices and not listening to.customer feedback started spiral. Along with incompetent CEO choices.

New shopping patterns and choices sealed the fate. Covid-19 will certainly change the retail landscape.

[gdale6]

Update:  https://www.cnbc.com/2020/05/04/preppy-retailer-j-crew-files-for-bankruptcy.html

[sccredit]

Interesting article on retail bankruptcies and how they will be delayed

https://www.cnn.com/2020/05/04/business/retailers-lack-of-store-closing-sales-delaying-bankruptcy/in...

[RickNATL]

I was a fan in early 20s...but fashionably, their clothes stayed behind a bit the times, and lost original fans along the way...so they were teetering on the line, IMO.