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JCPenney is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major US retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter. A bankruptcy filing would cap a long decline …

Neiman Marcus filed for bankruptcy Thursday, blaming the coronavirus for spoiling its turnaround and forcing it into a restructuring. The Dallas-based luxury chain became the second major retailer to declare bankruptcy this week, following J.Crew’s Monday Chapter 11 filing, as the pandemic kneecaps the industry. Neiman said it reached a restructuring deal with most of …

J.Crew filed for bankruptcy this week after years of lackluster sales, but the buyout firm that took it private almost a decade ago still made off with a hefty profit, according to public filings and internal documents reviewed by The Post. Texas-based TPG, headed by billionaires David Bonderman and Jim Coulter, has made a fortune …

Gold’s Gym has filed for Chapter 11 bankruptcy after the coronavirus forced it to shut down its workout venues nationwide. The fitness chain stressed that it’s not going out of business even though the crisis forced it to permanently close 30 company-owned locations. The company plans to work through the restructuring process by Aug. 1 …

Iconic American clothing retailer J.Crew on Monday became the first nationwide retailer to file for bankruptcy as the coronavirus crisis ravages the retail industry. The New York-based company — whose clothes were famously touted by Michelle Obama — is among several major retailers that have suffered while the pandemic forces stores closed and shut shoppers …

Privately held fashion company J.Crew Group is preparing for a bankruptcy filing that could come as soon as this weekend, CNBC reported on Thursday, citing people familiar with the matter. The company is working to secure $400 million in financing to fund operations in bankruptcy, the report added, cautioning that timing could still slip, and …

Bankrupt companies are reportedly suing the feds for cutting them off from loans that could keep them afloat during the coronavirus crisis. Troubled firms have filed at least a dozen lawsuits against the Small Business Administration to get access to the $659 billion Paycheck Protection Program offering forgivable loans to help small businesses keep their …

Face masks, temperature checks and packaged sandwiches could all become part of the daily routine for bankers as their employers work out how to get them safely back into the office. While a growing number of countries are starting to ease lockdowns to contain the coronavirus pandemic, the threat of a new wave of infections …

Carl Icahn’s car-rental company, Hertz, is gearing up for a possible bankruptcy as the coronavirus pandemic slams the brakes on its business. The car rental company failed to make an important monthly lease payment tied to its 500,000 vehicles this month, it revealed Wednesday morning. “While the company has taken aggressive action to eliminate costs, …

We have been locked down for weeks. Classes have been canceled. Only essential activities are allowed. Although there is much to cover and analyze, I want to focus on the economics of the situation. To understate it, the situation today is simply not good. The COVID-19 crisis has caused the world to lock down the …