J.Crew files bankruptcy, first major retailer hurt by COVID-19


May 4, 2020 Facebook Twitter LinkedIn Google+ Brands On The Move


J.Crew

J.CrewToday, retailer J.Crew announced the company has filed for Chapter 11 bankruptcy. They made the announcement which included that it had reached an agreement with its lenders to convert about $1.65 billion of its debt into equity. Like many other retailers J.Cre has been struggling over the years, they have also raked up $1.7 billion in debt.

They have been able to secure $400 million in funding from its lenders to navigate its way through the restructuring process.  The company still plans to remain open though its online store.


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