J. Crew was struggling before the pandemic wreaked havoc on retail across the globe. It appears bankruptcy is now imminent.
. It appears bankruptcy is now imminent., J. Crew will likely file for Chapter 11 bankruptcy protection as soon as Monday. The company had been struggling for years, with consumers turning toward less preppy, more sustainable, and/or cheaper retailers. Things were beginning to look up for them in 2020, with planned productand a public IPO offering for Madewell, a younger spinoff brand.
and though the company declined to comment, it looks like the coronavirus pandemic and accompanying economic decline really screwed things up.
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