J.Crew files for Chapter 11 as pandemic chokes retail sector

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Hi Mike Rossi reporting fashion brand J. crew files for bankruptcy saddled with massive long term debt and crippled by the coronavirus shutdowns fashion brand J. crew has filed for chapter eleven bankruptcy protection J. crew said Monday lenders have agreed to convert one point six five billion dollars of its debt into equity it also has commitments for financing of four hundred million dollars from several existing lenders J. crew says its clothes are still available online and it plans to re open stores when it's safe to do so with clothing sales off more than fifty percent in March and April figures that are coming next week expected to be worse other retailers may soon follow J. crew into bankruptcy hi Mike Rossi

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