J. Crew Group has received concessions from landlords totalling $70 million in savings this year and about $60 million next year.
The brands parent company, Chinos Holding, had filed for bankruptcy in May with $1.7 billion in debt, and was the first major retailer to do so during the pandemic. Following this, the company announced that it would permanently close store locations despite a request rent pause as the stores were unable to operate during the pandemic.
The concessions have allowed the company to reopen 458 stores and the majority of their store workers have been reinstated.
