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These 3 Beloved Clothing Brands Just Filed for Bankruptcy

Best Life Logo By Sarah Crow of Best Life | Slide 1 of 5: The COVID-19 pandemic has decimated brick-and-mortar sales across various industries, but few retail environments have seen as much upheaval as the clothing industry. According to a report from Deloitte, clothing and accessory stores saw losses of 89 percent between February and April 2020, while consulting firm McKinsey found that up to 75 percent of clothing retailers could find that their finances become unsustainable due to lost revenue related to the pandemic. It's not just small businesses that are going under, either. The parent company of multiple popular clothing brands has just announced its bankruptcy filing due to COVID-related losses; read on to discover which brands are on the chopping block. And for more stores closing up shop, This Popular Chain Is Closing Up to 75 Locations.Read the original article on Best Life.

These 3 Beloved Clothing Brands Just Filed for Bankruptcy

The COVID-19 pandemic has decimated brick-and-mortar sales across various industries, but few retail environments have seen as much upheaval as the clothing industry. According to a report from Deloitte, clothing and accessory stores saw losses of 89 percent between February and April 2020, while consulting firm McKinsey found that up to 75 percent of clothing retailers could find that their finances become unsustainable due to lost revenue related to the pandemic. It's not just small businesses that are going under, either. The parent company of multiple popular clothing brands has just announced its bankruptcy filing due to COVID-related losses; read on to discover which brands are on the chopping block. And for more stores closing up shop, This Popular Chain Is Closing Up to 75 Locations.

Read the original article on Best Life.

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