The iconic brands that could disappear because of coronavirus

[mahatmakanejeeves]

The iconic brands that could disappear because of coronavirus

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[redstatebluegirl]

1. When I was a girl almost all of our school clothes came from JC Penney and Sears.

My first Prom dress came from Penneys and I still have it in a box here somewhere. It is sad seeing all of the old stores going away, but Amazon is killing all of the stores. I hate buying clothes online. I am an odd size and really need to try things on. I have yet to buy something online that didn't have to go back to the seller.

Another thing, the jobs at those stores used to be good ones, they paid a living wage, had benefits and retirement. A friends Dad retired as an appliance manager for Sears and he had a good pension.

The rich are ruining our country, killing the middle class and now with covid 19 are killing us literally. These stores closing are not because of the virus, that may push them over the edge but it started years ago with the assault on the middle class by King Ronnie and his minions. Once they could buy elections it was all over. Then came Amazon to finish us off.

[jimfields33]

2. This stay at home situation shows Americans will adjust to anything

This would have been much harder in the 70’s. Amazon with all its warts has been life saving for the country.

[Maeve]

6. It's not just Amazon--many stores cut their own throats

I worked Penneys back in college--plenty of staff, we knew the merch, we constantly straightened the shelves.
Go to the store now and just TRY to find help, try to find the right size in the messy piles of clothing, try to find someone who is not running a register. I was in a Kohl's at Christmas and the person who helped me didn't work for Kohl's--she worked for one of the brands and was there to straighten just that brand!

[Auggie]

3. Paywall -- can't read the article

Any idea what brands TWP singled out?

[procon]

4. Same here. nt

[elleng]

5. "The companies with the thinnest margins are the most vulnerable,"

said Hugh Ray, a bankruptcy attorney for the Dallas-based law firm McKool Smith. “The bread and butter for bankruptcy lawyers is restaurants, grocery stores, and automobile businesses with margins that are too thin to sustain much of an interruption.”

Agencies like Moody’s and S&P Global Ratings have slashed credit ratings for a number of struggling retailers, scuttling their chances of accessing corporate bonds or government stimulus money reserved for companies in good financial shape. This means that some of the nation’s weakest retailers, including J. Crew, Gap and J.C. Penney, have little recourse against mounting losses. . .

The Gap last week warned that it could run out of cash to cover routine costs. The company, which also owns Banana Republic and Old Navy, didn’t pay rent in April and said it is talking to landlords about permanently closing some of its stores.

The newest challenges come on top of years of bankruptcies and store closures that have gutted some of the nation’s best known retailers, including Toys R Us and Sears. More than a dozen national brands including Gymboree and Payless ShoeSource filed for bankruptcy last year, fueling thousands of store closures.'