March 18, 2024

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Bankrupt! Major Retailers Facing Insolvency

Retail companies were already having a tough time over the past twelve months; then, the pandemic hit, and everything changed. While some stores have successfully pivoted to an e-commerce model, many other stores and major names have not been able to weather the storm. Let’s take a look at a few retailers that have fallen victim to the pandemic. J. Crew The prep-and-plaid favorite of sailors and golfers alike, J. Crew was hit hard by the restrictions on brick and mortar retail sales in many states. Specializing in upscale casual wear for men, women, and kids, J. Crew has been a fixture in wardrobes of Americans since its founding nearly

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Unemployment Claims Mount as States Move to Re-Open

Despite the persistent threat of the novel coronavirus, many states across the country are moving to reopen retail and commercial centers in an effort to get their constituents back to work. As the total number of jobless claims since mid-March surpasses 35 million, governors are trying to strike a balance between bringing people back to work and following public health advice.  A majority of jobs lost are service-based in nature- think retail, restaurants, tourism- and thus would conceivably return to pre-pandemic security once the pandemic fades. Across the country, many local and state officials are eager to return to a pre-pandemic reality, even when such may never again be possible.

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