On Thin Ice: Fashion Industry Loses Comfort
Planning for our retail re-opening, New York’s fashion industry is treading on thin ice these days. Death by 1,000 sewing needles, is something that we are working to avoid in our daily fight against the invisible enemy. Of late, every step forward seems to be followed by one that is equally backward. The financial tools supplied to our industry haven’t worked as yet, and there is a good chance that parts of our fashion world have already dried up. Zombie retailers now exist, with no future orders sitting on their books and multiple bankruptcies lie directly in our path. Truth be told, we would be well served by a retail and fashion industry bailout, courtesy of the federal government, but nobody in Washington seems to care about this. If the beltway elite would simply grasp that retail represents 10% of all the jobs in America, perhaps we could garner more attention for the industry. Read more at Forbes.
