retailers

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 …

Cash-strapped Gap Inc. on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures. Retailers are trying to restart business activity brought to a standstill due to the COVID-19 lockdowns. Their stores have remained closed for weeks and have resulted in thousands of workers being laid …

Venerable US retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday. Lord & Taylor’s preparations to liquidate its …

A deal to sell Victoria’s Secret has been scrapped after its private equity buyer sued to get out of the deal on a coronavirus-related claim. L Brands — the retail conglomerate owned by billionaire Les Wexner — said Monday it has scrapped its deal to sell a controlling stake in the struggling lingerie chain to …

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 …

B&H Photo & Electronics furloughed hundreds of employees this week — a move the iconic retailer had resisted for more than a month after its megastore in Manhattan was forced to shutter because of the coronavirus lockdown, The Post has learned. The 47-year-old electronics seller  — whose Manhattan flagship is known for its Orthodox Jewish …

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 …

Macy’s plans to reopen 68 US stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures. Cincinnati, Ohio-based Macy’s, the largest US department store operator by sales, said it expects to have all of …

Target said on Thursday that rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April. The big-box retailer said digital comparable sales surged more than 275 percent in April, with …