Penneyfile for bankruptcy protection, and brands likeJ.Crewand Brooks Brothers following suit (viaWWD).
The retailer also stopped paying rent in April and is now attempting to renegotiate its leases.
The Real Reason Guess Is Closing Some Of Its Stores
Neiman Marcus and J.C. Penney filed for bankruptcy protection recently. And other brands are closing stores to try and keep losses from dragging them under, including Guess, which will be closing down 100 stores across North America, Europe, and China over the next 18 months to try to stay afloat.
