A slew of national retailers are heading into 2020 on thin ice.
The company is stuck in an uncomfortable netherworld: not big enough to present a big threat to drugstore rivals Walgreens and CVS but not agile or rich enough to reinvent itself.
A few bad breaks haven't helped: A merger deal with grocery chain Albertsons collapsed in 2018, leaving the company's path to reinvention unclear. Moody's ranked the company as Caa3 as of Dec. 5, which means it has a"very high credit risk" and was close to a downgrade to Ca, which is"very near" or"likely in" default.Like other apparel retailers with a heavy commitment to shopping malls, J.Crew is grappling with declining foot traffic. The long-distressed retailer announced on Dec. 2 that it had agreed to terms to separate its J.
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