TOKYO - The US subsidiary of Japanese retailer Muji, known for its minimalist lifestyle brand, has filed for Chapter 11 bankruptcy protection, adding to a growing list of corporate casualties from the coronavirus pandemic.
But the company had also been grappling with losses due to high rent and other costs, and was taking steps to improve sales and renegotiate rent before the pandemic hit, it said. Muji's US unit joins more than 110 companies that have declared bankruptcy in the US this year and blamed the coronavirus crisis in part for their demise.
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