J.Crew’s chapter 11 bankruptcy filing may have surprised those who still purchase their cardigan sweaters and chinos from the retailer, but the company was at serious risk even before the COVID-19 pandemic due to sky-high levels of debt and a failure to keep up with fashion trends, experts said Monday.
Lenders include Anchorage Capital Group, L.L.C., GSO Capital Partners and Davidson Kempner Capital Management LP, among others.As part of the agreement, the company’s Madewell unit will remain part of J.Crew and will not be spun off, as previously planned. And:‘Where else am I going to find a $145 sun dress with grapefruits on it?’ J.Crew will have to slash prices to get people to buy their clothes, analysts say
iframe.twitter-tweet { width: 100% !important; } But other problems have arisen over the years. Where J.Crew was once known as a stylish brand with big names like Jenna Lyons and Mickey Drexler at the helm, word of the bankruptcy brought out snarky responses on Twitter about the perceived out-of-fashion and overpriced merchandise that the company now sells.“They missed the athleisure trend entirely,” said Jessica Ramirez, retail research analyst at J.
Work dress codes have generally changed and unless you work in finance in NYC you don’t need to rely on a J Crew or a Brooks Brothers for daily wear. I can see how the brand failed to adjust to the times.