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J. Crew clinches lender support to trim debt load
J. Crew is entering into a deal that it expects will put it one step closer to improving its business. The fashion retailer has won the support of more than 50% of its term loan holders to trim its $2 billion debt load and end intellectual property litigation. This was according to sources familiar with the situation, according to Reuters. -
Survey: Employee theft on the rise
In a sobering statistic, one out of every 27 employees was apprehended for theft from their employer in 2016. That's according to “The 29th Annual Retail Theft Survey,” conducted by Jack L. Hayes International, a loss prevention and inventory shrinkage control consulting firm. The survey is based on reports on over 380,000 shoplifting apprehensions that took place in 23 large retail companies, representing 16,038 stores with combined 2016 annual sales in excess of $370 billion.

