American clothing retailer Gap is reportedly running out of cash, prompting the company’s management to issue a dire prediction about the future.
Gap’s stores remain shut due to Covid-19, but rents still need to be paid. The company is said to be considering a raft of measures to save money, including furloughing about 80,000 store employees, cutting executive pay, and not paying April rent.
Despite these measures, Gap’s future is set to remain uncertain as the Covid-19 pandemic shows little sign of abating any time soon.
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