J. Crew is expected to file for bankruptcy as soon as this weekend after struggling with heavy debt and slipping sales.
CNBC reports that the retailer operates 182 J. Crew retail stores, as well as 140 Madewell stores and its e-commerce-based business. News of J. Crew's financial woes arrives just as the brand's fashionable, non-surgical face masks have proven to be bestsellers. Esquire notes that the pandemic accessories--made from J. Crew's signature prints and patterns, including gingham and seersucker--"sold out pretty much immediately."
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