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J.Crew becomes 1st major retailer to file for bankruptcy amid coronavirus pandemic

J.Crew becomes 1st major retailer to file for bankruptcy
amid coronavirus pandemic 1

The report found that the nation’s gross domestic product dropped at an annual rate of 4.8% last quarter, the sharpest fall since the financial crisis of 2008. The numbers were led by plummeting consumer spending, which accounts for more than two-thirds of the country’s economic activity, and are expected to be much worse in the three-month period ending in June.

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