Retail News

Private equity set J.Crew and Neiman Marcus up for bankruptcy

The New York Times 05/14/2020

COVID-19 didn’t bankrupt J.Crew and Neiman Marcus. The two retailers were in serious trouble before the pandemic forced stores to close as they labored under billions of dollars of debt imposed on them by their private equity owners. When the chains needed to invest in modernizing to deal with online competition over the course of years, needed funds were sent to pay off owners instead.

MORE ON THIS STORY...

MORE RETAIL NEWS HEADLINES...

Discussions
Check out RetailWire's Engaging Online Discussions Featuring Our Exclusive Braintrust!