These International Buyers Have Collapsed Due To The Impact Of The Epidemic.

Since the spread of the new crown epidemic around the world, economic activities have been completely shut down, and all walks of life have been hit by certain shocks. Some well-known brands have even suffered from the worst and embarked on the road of bankruptcy.

U.S.A

Former first lady of the United States loves J.Crew

In May 4th, the famous clothing brand J.Crew filed for bankruptcy protection, becoming the first nationwide retailer to apply for bankruptcy protection since the outbreak of the US epidemic. The company currently operates 182 J.Crew retail outlets and 140 Madewell stores, which is a brand facing young people launched by the company in 2006.

J.Crew, founded in 1983, has been favored by Michel Obama, the former first lady of the United States. On the day of Obama's inauguration, Michel Day's green gloves and two daughters' blue and blue coat were all from J.Crew.

Old luxury department store Neiman Marcus

In May 7th, Neiman Marcus, a luxury department store with 113 years of history, filed for bankruptcy. It became the second largest retailer in the United States during the new crown virus pandemic. It was also the first department store chain in the US during the epidemic. The chain store group, headquartered in Dallas, also owns New York's top luxury department store Bergdorf Goodman and e-commerce website MyTheresa. The company says Mytheresa is not part of bankruptcy and will continue to operate independently.

Geoffroy van Raemdonck, chairman and chief executive of the company, said, "before COVID-19, Neiman Marcus group has been making long-term profits and sustainable growth. However, due to the COVID-19 pandemic, we are facing unprecedented challenges, which has brought enormous pressure on us.

Department store Stage Stores

In May 10th, Stage Stores, an American department store operator founded in 1992, announced that it had formally filed for bankruptcy protection. Stage Stores is mainly in low-priced brand clothing, accessories, cosmetics, footwear and household products, headquartered in Texas, USA, mainly in small towns and communities to operate Department stores. It has 6 brands, nearly 800 stores: STAGE, BEALLS, GOODY'S, PALAIS ROYAL, Peebles, Gordmans.

The company will start reopening the door closed due to the outbreak. About 557 stores will open for sale in May 15th.

Famous department store brand J.C.Penney

Local time on May 15th, the US Department store chain J.C.Penney (Jesse Pani general store) announced on its official website that the company had filed for bankruptcy protection against the new crown pneumonia epidemic, which would reduce debt by restructuring. J.C. Penney plans to close nearly 200 stores this year, and will shut down 50 branches next year, accounting for about 30% of the total number of stores.

J.C.Penney has a history of 118 years, and currently has 846 branches in the United States and Puerto Rico, with nearly 85 thousand employees. Its CEO said that due to the Covid-19 crisis, J.C.Penney's net sales fell by about 88% compared with the same period last year, while the sales of physical stores dropped to nearly $0.

Some time ago, Zuckerberg and his wife sent 100 thousand red envelopes to each of the eight restaurants in San Francisco Bay area. They did not have any strings attached. They only hoped that they could withstand difficulties during the outbreak and continue to do business. But he can only save eight.

In addition to large department stores, data from the Coresight retail store database show that as of May 15th, 2294 retail outlets had closed down so far this year.

According to the latest survey by the SHRM, 52% of small businesses are expected to fail within six months. The survey of 375 companies was conducted from April 15th to April to 21. According to the survey, more than 1/3 of small businesses indicated that they could continue to operate for more than six months, and 14% said they were uncertain. About 1/4 of enterprises have increased or remained unchanged in recent months.

Canada

Largest footwear chain brand Aldo

Under the great pressure of the new crown virus epidemic on business and cash flow, Canada's well-known shoe chain chain Aldo Group filed for bankruptcy protection in May 7th. It said in its statement that it would apply for bankruptcy protection in the United States and Switzerland.

Founded in 1972, Aldo is a fashion footwear and accessories brand. Headquartered in Montreal, Canada, it operates more than 3000 stores worldwide with more than 8000 employees.

Fashion retail group Reitmans

In May 19th, Reitmans, a Canadian fashion retailing group, announced that it had filed for bankruptcy protection with the high court of Quebec for debt restructuring. Its president and chief executive said that it was a tough decision for nearly 100 years of Reitmans, but the group had no other choice under the new crown epidemic. In a statement, it said that the outbreak of the new crown virus "pushed the retail industry to an unknown new era".

Reitmans owns brands including Reitmans, Penningtons, RW&Co., Thyme Maternity and Addition Elle, and has 576 branches and 6800 employees worldwide.

Britain

Famous department store chain corporation Debenhams

In April 6th, British Sky television Skynews reported that the chain corporation, the largest department store in the UK, had received executive trusteeship and was facing bankruptcy due to the impact of the new crown pneumonia epidemic. Debenhams

Debenhams was founded in 1778 and has a history of 242 years. From the 1 stores in London to 166 stores all over the world, Durham has become one of the largest department stores in the UK.

According to the British guardian, since the closure of the new crown pneumonia, the 600 million pound debt has been written to the landlord, asking them to provide a five month rent free period. It is reported that the company has made a delay of 31 days' payment to suppliers in order to seek cash flow savings.

Germany

Largest department store Galeria Karstadt Kaufhof

According to German media reported on May 15th, the country's largest department store group Galeria Karstadt Kaufhof suffered a loss of more than 500 million euros due to the restricted business during the new crown pneumonia outbreak, and is now filing for bankruptcy protection.

Insiders disclosed that the chain store group plans to scale down to cope with the crisis: 170 stores may close nearly 80, resulting in 5000 job losses, while the remaining stores will reduce the proportion of layoffs to 10%.

France

Hundred years shoe brand Andr Ye

Since the French closure of the city, shoe Andr brand has closed all its stores in France since March 16th, and its CEO says it loses nearly 250 thousand euros a day in revenue. In March 23rd, Andr filed a bankruptcy petition to the court.

Andr E. was founded in 1896. Its main products are shoes with good quality and high quality. The products include men's shoes, children's shoes and handbags. By 1983, the brand already has 500 stores. In 2001, Andr e was bought by French fashion retail group Vivarte and became the brand of Vivarte. In 2018, Andr e was bought by Spartoo, a shoe supplier.

Japan

Clothing giant RENOWN

As of May 15th, more than 150 Japanese companies had been bankrupted due to the outbreak of coronavirus, the most famous among them was the Japanese clothing giant RENOWN.

RENOWN launched the bankruptcy reorganization process in May 15th. Due to the expansion of the new crown pneumonia, the reduction of people's activities and other reasons, and the recovery of 5 billion 300 million yen receivables from the Hongkong subsidiary of Shandong, which has not yet been successful, resulting in a continuous loss in the two financial year, the chain of funds broke. The company's total debt amounted to 13 billion 900 million yen (about 915 million yuan).

This is the first time a Japanese listed company has filed for bankruptcy since January 2019, according to Teikoku Databank, a credit research firm. Next, RENOWN will withdraw from the Tokyo stock exchange in June 16th.

RENOWN was founded in 1902. It has more than 30 international brands such as ArnoldPalmer and HirokoKoshino, and invested heavily in the bubble economy. In 2010, RENOWN was returned to China's textile giant Shandong Ruyi banner. This year, sales of clothing industry collapsed in April due to the closure of department stores and other factors. Sales of men's wear and casual wear decreased by 50%-90% compared with the same period last year, of which RENOWN sales dropped by 81% year-on-year.

Hongkong, China

Fashion brand ESPRIT

ESPRIT, a well known Chinese consumer, will not survive.

In March of this year, ESPRIT's parent company global (Hongkong) announced that the 6 Affiliated Companies in Germany, which was under the influence of the outbreak of the outbreak in Europe, had filed for bankruptcy protection. At the end of April, in addition to mainland China, the group closed 56 Asian stores in Singapore, Malaysia, Taiwan, China and Hong Kong and Macao. In May 14th, Si Jie universal said its business in China is expected to be transferred to joint venture mode in June 30th this year. Closing a number of shops is part of the transition of its business in China.

ESPRIT is an American brand. In 60s, it was founded by the American Tompkins couple. The famous movie star Brigitte Lin husband and Hong Kong businessman Xing Li Li joined in 1971 as the brand Hongkong agent. He built a branch in Hongkong and promoted the brand to Europe. Xing Li, in 90s of last century, bought the ESPRIT stake in one by one in response to the divorce of the Tompkins couple, and set up the "Si Jie universal".

High risk list

In addition, many large clients have already entered the high-risk list.

American Apparel Brand Company Centric Brands Inc.

The Wall Street Journal reported that Centric Brands Inc., the US apparel Brand Company, has hired a restructuring consultant from PJT Partners Inc. and Alvarez & Marsal. The source said that although the company had been negotiating a potential debt agreement, negotiations could also lead to bankruptcy protection. Centric Brands Inc. was founded in 1987, is headquartered in New York, listed on Nasdaq, operates HUDSON, CK, UNDER ARMOUR and other brands.

American sporting goods retailer Academy Sports+Outdoors

Moodie has downgraded the corporate family rating of Academy, Ltd, an American sporting goods retailer from Caa1 to Caa2, and downgraded its default probability from Caa1-PD to Caa3-PD. Founded in 1938, Academy is a major sporting goods and outdoor equipment retailer in the United States, founded by the Gochman family and sold to private equity giant KKR in 2011. In recent years, the increasingly fierce competition in the sporting goods industry has led to a weak operation.

American party goods retailer Party City

In March 19th, S & P downgraded the Party City credit rating of us party products retailer from B to CCC+, and the related reduction was affected by the decline in sales and product positioning, and the imbalance of pricing competitiveness. Party City, founded in 1986, is the largest retailer retailer in the United States with the largest market share in the world. It was purchased by Amscan, the largest holiday product buyer in the United States in 2005.

Famous American craft gift retailer Joann Store

In March 19th, S & P lowered the Joann Store rating of the famous American craft gift retailer from B- to CCC level, because the related business sales were in a great decline, and the A.C.MOORE in the industry earlier filed for bankruptcy protection. Joann Store is the third largest handicraft retailer in the United States, second only to Michaels Store and Hobby Lobby.

At Home, a well-known household goods retailer in the US

S & P lowered the credit rating of At Home, a well-known household goods retailer in the US, from B to CCC+ level, and its share price dropped nearly 90% in the past year.

This year for most enterprises are hard mode, under the current economic situation, we must pay attention to the buyer's business situation, beware of default risk!