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.