In many cases, trouble was brewing before Covid-19 hit.
Author:Dhani MauPublish date:May 18, 2020As we're all now well aware, the Covid-19 pandemic has been particularly tough on the fashion industry, with sales down across the board. And given that many companies — especially those with more traditional business models — were already struggling to adapt to a new retail environment or keep up with more digitally savvy competitors , the stay-at-home-orders were enough to fully decimate a number of them.
J.Crew: Debt-saddled J.Crew filed for Chapter 11 bankruptcy protection in early May. CEO Jan Singer described the decision as a financial restructuring and "a critical milestone in the ongoing process to transform our business with the goal of driving long-term, sustainable growth for J.Crew and further enhancing Madewell's growth momentum."
J.Hilburn: Another brand in the bankruptcy club as of early May is J.Hilburn, a Dallas-based custom menswear retailer. The company employs stylists who work directly with customers in showrooms throughout the U.S., and hopes there will be no business disruption while it restructures its finances.
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