Macy’s Inc. said on Tuesday it will temporarily shorten its store hours on some days at all of its stores for the rest of January, as Covid-19 cases continue to surge across the United States.

The embattled company’s Chinese owner Shandong Ruyi has appointed liquidators from FTI Consulting and R&H Services to assess the company’s financial situation and consider a potential restructuring of the group, according to a Hong Kong stock exchange filing on Tuesday.

The Italian fashion company cited rising rates of Covid-19 infections across Europe as the reason for cancelling its Emporio Armani, Giorgio Armani and Giorgio Armani Privé fashion shows, which were due to take place this January at Milan Fashion Week Men’s and Paris Haute Couture Week.

The former pop singer's beauty line helped stem a downturn in fashion sales.

The billionaire dynasty behind Selfridges & Co. has sold the British department store operator to a consortium led by Thai conglomerate Central Group.

The predecessor to Anna Wintour, she oversaw the magazine throughout the 1970s and 1980s.

The deal, which is expected to close in the first quarter of 2022, would immediately add to Crocs’ revenue growth, margins and earnings, it said.

Depending on Chantecaille’s future performance, the enterprise value of the deal could range from $590 million to $690 million, Beiersdorf said.