Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

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

 

Last updated 5/4/2020 at 11:13am



ANNE D'INNOCENZIO

AP Retail Writer

NEW YORK (AP) — The owner of J.Crew is filing for bankruptcy protection, the first major retailer to do so since the pandemic forced most stores in the United States to close.

More retail bankruptcies are expected in coming weeks with thousands of stores still shuttered, though states have begun a staggered restart of their economies.

March sales at stores and restaurants had their most severe plunge on records dating back to 1992. Clothing sales fell more than 50% that month and, in the timeline of a pandemic, those may have been the good days.

The U.S...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019

Rendered 05/25/2020 19:56