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J.Crew files for bankruptcy protection amid coronavirus pandemic
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The owner of J.Crew is filing for bankruptcy protection, the first major retailer to do so since the coroanvirus pandemic forced most stores in the United States to close.
More retail bankruptcies are expected in coming weeks with thousands of stores still closed, though states have begun a staggered restart of their economies.
March sales at stores and restaurants had their most severe plunge on records dating back to 1992. Clothing sales fell more than 50 per cent that month and, in the timeline of a pandemic, those may have been the good days.
The U.S. Commerce Department reports retail sales figures for April next week. That report will reveal the full brunt of the pandemic because by the beginning of the month, the doors of almost
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