For as much as there is to love about J.Crew, the company had been struggling to keep up in the retail market even before the COVID-19 pandemic, as reported by CNN Business. So once they had to close their doors due to quarantine, it became clear fairly quickly that J.Crew had to take action, said Mark Cohen, director of retail studies at the Columbia Business School. "The retailers who were wandering around aimlessly pre-pandemic are going to be substantially less likely to muddle through than they were before," he explained to CNN Business.

To that end, J.Crew filed for bankruptcy on May 4, 2020. But that doesn't mean the retailer is done for, according to J.Crew Group CEO Jan Singer. "We will continue all day-to-day operations," she said in a statement.

J.Crew also has every intention of weathering the bankruptcy storm and coming out afterwards as a profitable company once again. So, for now, we can rely on shopping at J.Crew.