Author: Alexis

J.Crew is a retailer that is struggling to survive

J.Crew is a retailer that is struggling to survive

Can Hypebeast Magic Revive J. Crew?

J.Crew, the high-fashion designer of trendy clothes, accessories, home wares, shoes, and fragrances, lost some of its luster in recent months, first under pressure from bankruptcy and then from what is sometimes called the “boom” of e-commerce. The brand took a hit on the fashion side and has been struggling along without much recent news. The business had been hemorrhaging money, but the company’s board of directors has taken steps to save the company, according to Bloomberg News.

In late January, J. Crew faced the possibility of liquidation if the company failed to receive adequate financing from lenders. The J. Crew board was to determine how to proceed, and a meeting was held on Monday, January 19, to discuss what would come of J. Crew when it enters into bankruptcy. J. Crew is a private company owned by the billionaire Bernard Tapie.

The board decided that J. Crew will operate from its headquarters in New York City, not from a location in the U.S., and will no longer send its goods by mail. J. Crew will also return to its former business, as the company looks to streamline operations and cut costs. (The company had been making e-commerce deliveries by mail.) On Monday, J. Crew announced plans to cut 10% of its workforce as a cost-cutting measure. J. Crew will also start a major renovation of its headquarters, which will feature a new logo, new furniture, and more.

J. Crew is not the first retailer to find itself in the position it faces. Sears in 1998 announced a similar move, closing its doors and pulling the plug on its catalog operations. Then there was Borders in 1999, which shuttered its bookstores and e-retail operations.

There have been several other recent examples of companies that had their retail operations come to a halt. The Walt Disney Company was forced into Chapter 11 bankruptcy reorganization proceedings in December of 2000, which led to the closure of its retail stores and

Leave a Comment