Credit watchdog Moody's downgraded the debt backing J. Crew to “Caa2” from “B3.”
Despite decades of enforcement, labor investigators keep turning up violations in garment shops in California.
It will result in 2,000 job eliminations and an annual savings of about $65 million.
As chief executive officer of the forward-leaning payment firm, his goal, while still in the future, is to make the technology invisible.