Concessions from Landlords Will Save a Bankrupt J.Crew Millions

By Sheridan Fifer

J.Crew was changing up its store strategy even before its bankruptcy, closing J.Crew stores and opening Madewell locations. In the wake of bankruptcy, the retailer's exact plans for its stores are not clear. J.Crew recently received big concessions from landlords, including one-time waivers and rent deferrals, which will save it an estimated $70 million this year and $60 million next year. As coronavirus-related restrictions ease, the retailer is also reopening stores, though how long some of those locations will remain open remains in doubt. 

Representatives of J. Crew didn't immediately return requests for more information on whether or how the bankruptcy filing or the landlord negotiations have affected that blueprint, or how long reopened stores will ultimately stay open.

Read the full story at Retail Dive.