The J Crew retail business has filed for bankruptcy protection ahead of financial restructuring which will see its major creditors take control of the business. It is also understood that the new owners will between them provide US$400m of new funding to enable the business to recover its position.
J Crew operates over 500 stores primarily in the USA with others in Canada and six in the UK. The business continues to trade online but it is expected that a number of its stores will be permanently shuttered once Covid-19 restrictions are relaxed.
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