The Corona Virus continues to upend our world as we know it. A few days ago, a Reuters article announced that Macy’s has decided to ‘furlough’ (temporarily lay off with no pay) most of its 130,000 employees due to the negative economic impact Covid-19 has had on sales.
WWD reports that Neiman Marcus has defaulted on its loan payment and that bankruptcy is near.
Bergdorf Goodman was the latest to announce that it would file voluntary Chapter 11 Proceedings.
With non essential businesses closed until further notice, large Brick & Mortar stores have suffered greatly. With store closings extended for another 2-4 weeks, we can only pray that this does not lead to the end for iconic American retailers.
In times like these, when families are focused on essentials, financials, and keeping their heads above water, it’s hard to think about fashion.
Now, we can’t even indulge in fashion for entertainment with marquee style focused events like the Cannes Film Festival, Met Gala, Men’s Fashion Week, and Couture Fashion Week postponed until further notice.
Our community has tried to find some positivity in the midst of this unprecedented situation, whether banding together to make masks for hospital workers, creating their own couture masks, or stepping out and creating art that points to a new reality of face coverings and gloves.
Out of darkness comes light. And we can only hope that once this madness finally ends, we will rebound like no other. Jobs will return, going outside can be celebrated, and we’ll have all sorts of looks to make up for lost time.
The world has been here before with wars, recessions, and depressions. We made it through before. The sun will shine again.
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