US clothing sales "J. CREW" goes bankrupt 23:35 on May 4th

“J.CREW”, a major American clothing sales company, applied for the federal bankruptcy law, which is the civil rehabilitation law of Japan, to the court on the 4th, and the business went bankrupt. Due to the spread of the new coronavirus, the store was closed for the first time, but it was the first major bankruptcy in a major US retail store.

According to the announcement, J. CREW filed for application of Article 11 of the Federal Bankruptcy Code, which is the Civil Rehabilitation Law of Japan, to a court in Southern Virginia on the 4th, and the business went bankrupt.

J. CREW is a casual clothing chain whose last year's sales were JPY 260
billion. In the 1990s, it expanded into Japan and gained popularity.

In the American retail industry, the business format of having real stores has been struggling due to the spread of online sales, but the spread of the new coronavirus has forced many companies to temporarily close their stores and the business environment rapidly deteriorates. was doing.

This is the first time a major retailer has been affected by the new virus, and American media reports that "many other retailers are in danger of bankruptcy."

J. CREW says it will continue to restructure its business while continuing its operations by raising new funds, but due to the effect of the new virus, it is unlikely that it will be able to resume business other than online sales, and it seems that the difficult situation will continue.