Private equity set J.Crew and Neiman Marcus up for bankruptcy
May 15, 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.
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