J. Crew Files For Bankruptcy As Covid Chaos Crushes Retailers

Source: https://www.zerohedge.com/economics/j-crew-preparing-file-bankruptcy-soon-weekend
Published: May 4, 2020
Author: Tyler Durden
Post Date: 2020-05-04 10:05:02 by Horse
Views: 1699

This agreement with our lenders represents a critical milestone in the ongoing process to transform our business."

Poster Comment:

Auto traffic picked up a lot with more people going to work this morning. That is a good sign.

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#1: NeoconsNailed    To: Horse (#0)

The pandemic has been absolutely disastrous for the retail industry.

Pardon me Zerohedge but the COMMUNIST CRACKDOWN ON THE EX-FREE WORLD has been absolutely disastrous for the retail industry. And industry has no excuse for itself -- this a fascist coroporatocracy anymore, so why don't the megacorporations that force open borders on us et al go to the government and say "stop the madness, open everything back up or it's no campaign donations for you nextime"?

NeoconsNailed posted on 2020-05-04 11:03:04   Reply   Private Reply

#2: Horse    To: NeoconsNailed (#1)

The lockdown was designed to break small businesses. Only billionaires and the impoverished. Wages will be cut in half by Helicopter Money bailing out the Uber Rich. That way only billionaires will matter. Poor people can't start a revolution.

Horse posted on 2020-05-04 12:54:42   Reply   Private Reply

#3: Lod    To: Horse (#0)

I can hear much more traffic on our neighborhood throughfare today.

Lod posted on 2020-05-04 12:59:46   Reply   Private Reply

#4: DWornock    To: Horse (#0)

Business failures are good. It weeds out the inefficient.

DWornock posted on 2020-05-04 13:31:40   Reply   Private Reply

#5: NeoconsNailed    To: Horse (#2)

The lockdown was designed to break small businesses.

They hate small businesses and 'the little man' just like they hate country people and farmers. They've already ruined the 'independent' gas station and every single one sports the proud, shiny sign of a major brand now.

The 'elites' hate everybody who isn't them and intend to wipe them (us) off the face of the earth -- except for the dusky, mongrelized underclass they think will wait on them once our kind are gone.

NeoconsNailed posted on 2020-05-04 14:23:56   Reply   Private Reply

#6: StraitGate    To: DWornock (#4)

Business failures are good. It weeds out the inefficient.

Yes, in a free market. But when a small business fails because the government forced it to close its doors for weeks or months, you can't blame that failure on the business's inefficiency.

StraitGate posted on 2020-05-04 20:28:49   Reply   Private Reply

#7: DWornock    To: StraitGate (#6)

Yes, in a free market...

You are right and now that I thought about, we haven't had free market in ages.

DWornock posted on 2020-05-06 01:13:28   Reply   Private Reply