J CREW news and archive

J.Crew Group makes slew of appointments to management team

J.Crew has announced a raft of executive appointments and new board members as the US retailer looks to “advance its long-term strategic growth plan” after emerging from bankruptcy late last year. Jose Davila has been appointed chief people officer where he will guide the company’s overall people strategy and execution. Davila has 25 years of...

BusinessFeatured

2020: Fall of fashion brands, retailers and series of Chapter 11 bankruptcies

A look-back at the year 2020 reveals how fashion brands and retailers suffered due to dwindling sales, low footfall, high debts, high rentals, inefficient operations, out-dated merchandise assortment and high inventories, among other issues. The coronavirus pandemic added to the woes of these already troubled retailers leading them to file for...

Fashion

J.Crew promotes voter participation with new capsule collection

J.Crew hopes to encourage Americans to vote this November through a new capsule collection. This launch follows the brand's support of the "Time to Vote" movement and announcement to close all of its stores, corporate offices, distribution center and customer service center on November 3 to allow employees paid time off to vote. The capsule...

RetailFeatured

J.Crew to close all six UK stores

US retailer J.Crew is to permanently close all six of its UK stores as it exits the country. The brand has appointed advisory firm FRP as liquidators to its UK business, The Guardian reports. The company has a head office in London and has around 80 employees. The brand opened a flagship store on London’s Regent Street back in 2013 and was also...

BusinessFeatured

J.Crew expects to exit Chapter 11 bankruptcy in early September

J.Crew Group, Inc. has announced it expects to exit Chapter 11 bankruptcy early next month after winning approval for its restructuring plan by the US Bankruptcy Court for the Eastern District of Virginia. The plan will equitize over 1.6 billion dollars of secured indebtedness, and provide a 400 million dollar exit asset-based loan facility as...

Video

Video: How private equity is demolishing fashion retail

J. Crew, Neiman Marcus and Barney's are just a few of the fashion retailers that have recently declared bankruptcy. Although, in these companies' cases it cannot only be blamed on a pandemic, bad business practices, or a failure to keep up with e-commerce. That is why CNN Business shared this 3-minute explanation on leveraged buyout's role in...

Video

Video: The rise and fall of American fashion brand J.Crew

At its peak, J.Crew, along with sister brand Madewell were thriving in 100 countries with over 500 physical stores. Being popular with celebrities and frequently worn by politicians, J.Crew's retail status was a distinguished one. How could this brand go from so much success to filing for bankruptcy during the coronavirus pandemic? Business...

Retail

J.Crew Group announces reopening of 171 additional locations

Three hundred and fifteen J.Crew and Madewell locations are currently open and operating in the U.S., after the company announced the re-openings of 171 locations today. The company began a phased reopening strategy of its 500 stores last month, after having closed all locations due to the COVID-19 pandemic. J.Crew Group said that it has...

Fashion Featured

J.Crew becomes the first retailer in the US to file for bankruptcy during COVID-19 crisis

After news broke last week that the J.Crew Group would be filing for bankruptcy protection, the American retailer has announced that it began its Chapter 11 proceedings in federal bankruptcy court in Virginia. The company, which includes the brands J.Crew and Madewell, is the first retailer in the U.S. to file for bankruptcy protection since the...

BusinessFeatured

End of an era: J. Crew to file for bankruptcy protection

J.Crew, the upmarket preppy retailer that once was the king of America’s mall brands, is preparing to file for bankruptcy protection according to multiple media sources. The struggling retailer is one of several high-profile U.S. chains including Neiman Marcus and J.C. Penney, that are on the verge of unraveling during the coronavirus pandemic....

BusinessFeatured

J.Crew swings to Q4 gain, extends Madewell IPO deadline

J.Crew Group has swung to a profit in the fourth quarter of the year and announced an extension to the deadline date of its upcoming IPO of its Madewell brand. For the three months to 1 February, the group reported net income of 1.5 million dollars compared with a net loss of 74.4 million dollars in the prior-year period. Total group revenues...

People

J.Crew names Jan Singer of Victoria's Secret new CEO

After over a year of searching, J.Crew has appointed a new chief executive officer. Jan Singer, formerly chief executive of Victoria's Secret, will lead the brand effective February 2. She will join the board of directors and take responsibility for all aspects of J.Crew and J.Crew Factory businesses. Singer takes over for Michael Nicholson, who...