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Money, Money, Money

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Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

What's a giant, soft-preppy chain worth these days? Oh, somewhere around $3 billion, if you're J. Crew. Two investment firms have purchased J. Crew, taking the company private. "This will allow CEO Mickey Drexler and co. to fix what’s wrong with the business–and build on what’s right–without having to deal with public shareholders.... Even though going private often means gaining debt, it also means being able to avoid a black hole." Fashionista requests more Madewell, and we concur. [Fashionista]