News Formal

Experts say several retailers to consider bankruptcy amid coronavirus - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

JCPenney is reportedly eyeing bankruptcy and experts say other department stores and mall brands may soon follow as coronavirus decimates the retail industry

at its stores, supply chain facilities, and logistics center in late March and early April — confirmed on Thursday it missed a $12 million debt payment.

Like JCPenney, Macy's has also faced a difficult past few years. In February, right before the coronavirus outbreak hit the US, the company announceddesigned to cut costs by focusing away from malls and instead investing in concept stores and its off-price companies like Macy's Backstage. The plan came after several quarters of decreasing sales performance.

Adding to retailers' woes, consumer spending is on the decline, as many as discretionary income takes a nosedive thanks to rising unemployment rates. More than 22 million Americans have filed for unemployment in the last four weeks, bringing the national jobless rate to 13.5%, according to the most recent data from the US Department of Labor.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

GOOD! Now, we all should encourage local businesses and entrepreneurs to begin working again, for all of us!!

Es que si quiebran estos monstruos, ¿que se deja para el pequeño comerciante colombiano? ¿QUÉ?

This could of been written every week for the last 10'years.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

The inside story on billionaire Seth Klarman's devoted following - Business Insider'Oracle of Boston' Seth Klarman has a rabid following that's stuck with him through thick and thin. Here's why fans of the publicity-shy billionaire investor copy his every move. Value investors without humor like Warren Buffett are insufferable 😂
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Coronavirus: UK live updates, 12,868 deaths and 98,476 coronavirus cases - Business InsiderBoris Johnson's government is set to extend lockdown measures until early-May. Here's the latest as the COVID-19 pandemic spreads across Britain. How long for Thank you china and irresponsible WHO Well he needs at least that long for himself...
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Coronavirus: UK live updates, 12,868 deaths and 98,476 coronavirus cases - Business InsiderBoris Johnson's government is set to extend lockdown measures until early-May. Here's the latest as the COVID-19 pandemic spreads across Britain. Is that graphic supposed to have some meaning? Well good luck with that!
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Seafood processing workers speak out about unsafe working conditions amid coronavirus - Business InsiderTwo seafood processing workers say they lack protective equipment and that social distancing isn't being taken seriously at their facilities.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »