J. Crew the First National Apparel Chain to Fall During the Pandemic; More Expected to Follow

"J. Crew, an apparel chain known for its preppy basics, filed for bankruptcy protection Monday, becoming the first national retailer to do so during the coronavirus pandemic," reports Abha Bhattarai. 

Dire predictions about the fate of national brands have been raised throughout the lockdowns of the coronavirus pandemic, and experts are certain more brands will follow. 

"J. Crew joins at least half a dozen national retailers that have filed for bankruptcy this year, including Pier 1 Imports, Modell’s Sporting Goods and True Religion. A number of others, including Neiman Marcus and J.C. Penney, are widely reported to be considering similar action as they run low on cash."

According to Bhattarai, J. Crew was struggling before the pandemic shut down malls and stores all over the country and the world, and many of its woes are connected to debts caused by private equity acquisition—a common story in the history of the retail apocalypse.