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Nordstrom warns financial situation could become distressed because of coronavirus-related store closures

April 8, 2020

Via: CNBC
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Nordstrom said its financial situation could become distressed if its stores stay dark for much longer because of COVID-19.

The retailer’s assessment of this crisis is one that many are likely dealing with, as businesses that sell nonessential goods such as apparel, shoes and luggage have reached an almost complete standstill.

“The longer our stores remain closed to the public, the greater impact it will have on our results of operations and financial condition, and if our physical locations remain closed to customers for an extended period of time our financial situation could become distressed,” the Seattle-based department store chain said Wednesday in a securities filing.

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