It’s official: J. Crew has filed for bankruptcy. The major retailer announced that Chinos Holdings, its parent company, has filed for Chapter 11 protection, according to the New York Times. After weeks negotiating with lenders, J. Crew has agreed to give control of the company to major creditors including the hedge fund Anchorage Capital by converting $1.65 billion of its debt into equity. It will hold onto its Madewell brand and keep operating its e-commerce
source https://therealdeal.com/2020/05/04/j-crew-files-for-bankruptcy/
No comments:
Post a Comment