J. Crew Becomes First <br />Major Retailer to File for <br />Bankruptcy Due to Coronavirus The decision to file for <br />Chapter 11 protection in federal <br />bankruptcy court was reached on Sunday night. Company control will move <br />from parent company Chinos Holdings <br />over to top creditors. J. Crew's e-commerce business <br />will continue and at least two brick-and-mortar stores <br />will open once lockdown restrictions have eased. Jan Singer, CEO, via 'The New York Times' Started in 1947, J. Crew was the <br />first mass-market brand allowed to <br />present part of its line at <br />New York Fashion Week in 2011. It is just one retail company that has <br />been hit extremely hard by <br />the coronavirus pandemic. Though J. Crew is the first to file for bankruptcy, <br />it is widely acknowledged that <br />it likely will not be the last.
