Gap Says It Will Pay Vendors for Orders It Canceled
Gap (NYSE: GPS) was one of the first retailers to announce it was canceling orders from vendors and suppliers as the coronavirus pandemic worsened in the U.S. It told them it would not accept the summer clothes shipments it had ordered and was canceling those for the fall season. Garment workers in Bangladesh and elsewhere worried they would lose their jobs as a result.
The retailer appears to have had a change of heart, however, and announced it will pay its vendors in full for all of those goods.
Image source: Getty Images.
Source Fool.com
