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The Twitter response to J.Crew filing for bankruptcy has been savage — but it has a point

The unraveling of J.Crew has spun many Twitter threads, from fans mourning the possible end of an iconic American brand to those dancing on the preppy New York label’s grave. J.Crew Group Inc. filed for bankruptcy protection on Monday, saddled with $1.65 billion in debt (which is being converted into equity) and claiming that store closures during the COVID-19 pandemic will cost it $900 million in sales. The news led J.Crew to top Google (GOOG) searches and to go viral on Twitter (TWTR) as one of the first major retail casualties of the coronavirus outbreak that has essentially shut down the U.S. economy. Read More...

The Twitter response to J.Crew filing for bankruptcy has been savage — but it has a point

The unraveling of J.Crew has spun many Twitter threads, from fans mourning the possible end of an iconic American brand to those dancing on the preppy New York label’s grave. J.Crew Group Inc. filed for bankruptcy protection on Monday, saddled with $1.65 billion in debt (which is being converted into equity) and claiming that store closures during the COVID-19 pandemic will cost it $900 million in sales. The news led J.Crew to top Google (GOOG) searches and to go viral on Twitter (TWTR) as one of the first major retail casualties of the coronavirus outbreak that has essentially shut down the U.S. economy.

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