Once the 'go to' choice by many of the great and good, including former First Lady of the United States Michelle Obama, J Crew hasn't found fortune smiling on it quite so much in more recent times. It's been in the process of closing down outlets for some years now, with sales figures in free-fall. J Crew's bridal store was axed entirely as the company tried to balance the books.
Heads had to roll at the top of the company, too. Out of the door went Jenna Lyons, the company's former creative director, and CEO Mickey Drexler. Drexler was candid when asked about the start of the company's issues; he felt a decision to raise prices in order to fund expansion had been both wrong and poorly timed. A debt exchange in June 2018 allowed J Crew to restructure $2bn of its deficit, and the embattled company fights on.