J.Crew files for Chapter 11 bankruptcy
A window display at a J Crew store overlooks a quiet Rockefeller Center, Saturday, May 2, 2020, in New York. On April 30, the company announced it would apply for bankruptcy protection amidst the COVID-19 pandemic. [AP/ Mark Lennihan]
The owner of J.Crew is filing for Chapter 11 bankruptcy, two months after the first person in New York tested positive for COVID-19.
The city, where J.Crew Group Inc. is based, went into lockdown soon after, followed by much the country, and retail stores in New York City and across the country locked their doors.
More bankruptcies across the retail sector are expected in coming weeks.
The company said Monday that it anticipates its stores will reopen when it’s safe to do so.