Macy’s Inc has hired investment bank Lazard Ltd to explore options for bolstering its finances after the department store operator lost most of its revenue as it shut down all its stores as a result of the coronavirus outbreak, people familiar with the matter said. The move by Macy’s, the largest U.S. department store operator by sales, is a sign of the severity of the crisis facing brick-and-mortar retailers, which were already struggling with the shift to online shopping. The pandemic has forced store closures and widespread furloughs of employees as state after state issued shelter-in-place orders in …read more
Source:: Yahoo Finance
