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    The Fashion Industry & Bankruptcy

    Hi y’all, We are continuously seeing companies, especially in the fashion industry, declare some form of bankruptcy. However, what no one seems to be considering is that these companies were already struggling prior to the recession caused by COVID-19. J.Crew was definitely already struggling, mostly due to a buyout. However, from a shoppers perspective, clothes there are expensive, that you can buy at J. Crew Factory or J. Crew Mercantile for a fraction of the price. Plus, there is always a sale, so why buy anything full price? J.C. Penny was also already struggling, along with Neiman Marcus. Pier 1 has actually been in the process for a while of…