[iam.mike]

Dive Brief:

• J. Crew is preparing to file for bankruptcy, according to reports by CNBC and The Wall Street Journal that cited anonymous sources. J. Crew did not immediately respond to Retail Dive's request for comment.
• The apparel retailer could file as early as this weekend, though the Wall Street Journal reported that the retailer's board hadn't signed off on a plan as of Thursday evening.
• The company is trying to secure $400 million to finance it through the court process, according to CNBC.

Here's the full article.

 

[Oldsarge]

Are we surprised?

 

[medhat]

Bankruptcy, perhaps, but liquidation? Unlikely IMO. Both the brand itself, and particularly the Madewell sub-brand, have a lot of value, in particular Madewell. I wouldn't be surprised to see them survive, or possibly even be absorbed by a near-luxury conglomerate.

 

[ran23]

Let's buy a company!!!

 

[drpeter]

This piece in Ivy Style opens with Brooks Brothers being for sale, and also discusses the J Crew bankruptcy. Perhaps two lights are going out close to one another?

https://www.ivy-style.com/brooks-for-sale-j-crew-bankrupt.html

 

[wdrazek]

This piece in Ivy Style opens with Brooks Brothers being for sale, and also discusses the J Crew bankruptcy. Perhaps two lights are going out close to one another?

https://www.ivy-style.com/brooks-for-sale-j-crew-bankrupt.html

Bankruptcy does not mean liquidation. J Crew is not going to vaporize tomorrow and neither is BB.

There will be major restructuring in retail and in clothiers. It was already happening and Covid-19 has hastened it. The strong will survive, others will not. Time will tell which are which.

 

[Mr. B. Scott Robinson]

As I have not looked at anything they have on offer for years. I’m not surprised.

Cheers,

BSR

 

[Matt S]

I thought that J Crew had a big following with people of all ages? This surprises me. Brooks Brothers, on the other hand, is mostly middle-aged people and older, and people who buy clothes for their children. BB sell boring clothes, and that doesn't do it these days. Old brands are having a difficult time staying relevant. They dilute their brands to appeal to the masses, but then their clothes appeal to nobody.

 

[Flanderian]

They dilute their brands to appeal to the masses, but then their clothes appeal to nobody.

+1! :beer:

J. Press will never be Brooks, but at least they'll always be Press.

 

[peterc]

Are we surprised?

My feelings exactly. Especially for those of us who remember what J. Crew was like in the 1990's: forward pleated flannel and cavalry twill trousers; a doeskin flannel blazer that was as nice as any RL item; and a a moleskin jacket that I bought in May 1995 in Pasadena and which still fits despite being a 42. (The pants were 34 and the blazer a 39R and I left those sizes long ago - bought those items in 1993-1996.)

 

[Mr. B. Scott Robinson]

I still keep BB on retainer to provide staples. Chinos, black tie needs, umbrellas, shorts, items like these. Their trousers and shorts fit me well and hold up over time.

Not very exciting, but neither is buying paper towels....

Cheers,

BSR

 

[Dhaller]

BB is my Jos A Bank: I hit it when it's "4 shirts for $199" and so forth. Sweaters and suits and things I can buy from local, quality independent men's clothing stores for just a bit more (in Atlanta, H. Stockton is my go-to closet-filler), and it's the same knowledgeable fogies who've worked there for 40 years, plus the occasional "new blood" that somehow finds its way onto the payroll from time to time ("Blake" is my newest guy at H. Stockton, nice young man, BTW.)

J Crew... I used to shop there many years ago, but at some point I just lost interest. Maybe the fit changed. I actually wandered through one a few months ago; I have an office on the 8th floor of a nice mixed-use facility in Atlanta called Ponce City Market, which happens to have hip restaurants and "upscale" retailers on the first two floors, including J Crew... and I just didn't like the *smell* of the place. It smelled like solvents from a fabric-finishing process? And it was just kind of dead, no one shopping (this was well pre-pandemic), a couple of admittedly chipper clerks endlessly folding (like they do).

I can get the same quality of slimmer-fitting linen shirts and things at Uniqlo for 1/4 the price.

DH

 

[lightbeard]

I can get the same quality of slimmer-fitting linen shirts and things at Uniqlo for 1/4 the price.

I'm in the market for some linen shirts, thanks for the tip Dhaller

 

[Charles Dana]

I'm in the market for some linen shirts, thanks for the tip Dhaller

But if you can, wait until those Uniqlo linen shirts go on sale for $19.90, which they do now and then.

 

[DCR]

I don't find the items I've purchased from Uniqlo have held up all that well. The sweat shirt being an exception

 

[peterc]

If folks are looking for a J Crew/BB alternative, I recommend Massimo Dutti. Big in Europe, though only one store in USA - NYC. Was also recently surprised to see a location in Vancouver. Every item I have bought from there is incredibly nice. True, their items were nicer circa 2000 (when I discovered the shop in Spain - in Valencia), but their garments are still very nice and fit nicely. I always shop there when I am overseas.

 

[medhat]

As others have mentioned, bankruptcy in this case likely means restructuring debt and not disappearing from the marketplace. On sale, I think they're a perfectly serviceable source for workwear for someone just starting out. Who's also slim!