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J. Crew Bankruptcy
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Overview
J. Crew Bankruptcy refers to the Bankruptcy filed by the clothing retailer J. Crew Group, which owns J. Crew and Madewell, following store closures due to the coronavirus pandemic in May 2020. Following the bankruptcy announcement, Twitter users responded by mocking the clothing they sell and the people who buy them.
Background
On May 4th, 2020, J. Crew Group[1] announced that "The Company has filed a series of customary “first day” motions with the Bankruptcy Court seeking to maintain its operations during the restructuring process to help facilitate a smooth transition into Chapter 11." That day, CNN Business shared the news on Twitter[2] saying, "J.Crew Group, which operates both J.Crew and Madewell, has become the first national retailer to file for bankruptcy protection since the coronavirus pandemic forced a wave of store closures" (shown below). The tweet garnered over 1,800 likes and 1,100 retweets in a day.
Developments
On May 4th, 2020, Twitter users began mocking the news. Twitter user @LizHackett[4] posted, "Bummed about J. Crew because where else am I gonna find a $145 sundress with grapefruits on it?" (shown below, left). The tweet gained over 1,000 likes in a day. Twitter user @megangailey[5] tweeted, "I’ve done everything I can for J. Crew" (shown below, right). The tweet received over 13,000 likes in a day.
Some Twitter users posted images of items J. Crew sells and sarcastically commenting on how they wonder why they filed for bankruptcy. Twitter user @EddyElfenbein[6] posted an image of one J. Crew outfit captioned, "I don't understand how J Crew could have gone under" (shown below). The tweet garnered over 1,500 likes in a day.
That same day, Twitter users commented on the inevitable sales they would be having. Twitter user @tm_migo posted a GIF of a woman casually typing and added the caption "Me enjoying the sales on j.crew and banana republic website cuz they’re going bankrupt" (shown below). The Daily Dot[3] published an article about J. Crew Bankruptcy memes.
Me enjoying the sales on j.crew and banana republic website cuz they’re going bankrupt pic.twitter.com/WxHupysnjl
— MIGO (@tm_migo) May 4, 2020
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External References
[1] jcrewgrouprestructuring – our announcement
[2] Twitter – CNN Business
[3] Daily Dot – J Crew Bankruptcy Memes
[4] Twitter – LizHackett
[5] Twitter – Megangailey
[6] Twitter – EddyElfenbein
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