Comment by madaxe_again

Worked in ecommerce for a decade, knew innards at NG through a few sources.

They overspent on tech which they always thought would last forever. "Yeah, let's spend $11M on a redesign. It'll last forever"

They bought way too much stock, and never worked with size curves, just flat ranges.

These are common problems in small/young retailers - just most of them don't fail quite so spectacularly on other people's money.