True Religion Files For Bankruptcy—Again—As Coronavirus Hobbles Retail Industry

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Designer jeans company True Religion has filed for Chapter 11 bankruptcy protection for the second time in 3 years—citing difficulties due to the coronavirus pandemic

Many retailers are struggling to stay afloat as the shutdown drags on and their stores remain closed. President Donald Trump has expressed hope that the U.S. could reopen by May 1, however it remains unclear how plausible that is. In the meantime, dozens of retailers have been downgraded by the credit ratings agencies. According to, department stores have become particularly vulnerable and their odds of defaulting have risen sharply in the last month.

This is the second time that True Religion has landed in bankruptcy. It last exited from bankruptcy in 2017 in just four months, after shedding over $350 million in debt, closing stores and investing in e-commerce.made some 14,000 pairs$100. However, the company’s jeans have fallen out of favor in recent years amidst increased competition from lower-cost brands like Levi Strauss and Madewell, as well as a boom in athleisure.

 

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How is one month of closures bankrupting these big companies...Bootstraps and all that good shit

Maybe time for a new religion.

Name change maybe ?.. sounds like jeans I'd wear if I was in a Christian rock band

Maybe $500 jeans aren’t cool anymore? TrueReligion

God Bless them all! May life be kind to them.

Their jeans were a fad, probably should have changed it up by now. You can find many of these jeans at 2nd hand stores. They just need to shut down.

$80-$200 for a pair of men's jeans and TrueReligion got the nerve to be filling Chapter 11 backruprcy. WTF?

bizzleosikoya Skeptas Jeans?

Denim masks?

Stop having so many brick and mortar stores, clothing lines should almost all be online/warehouse; business. Less overhead. No one visits malls like that anymore

Never owned a pair.

I wouldn’t blame Corona Virus for this

I guess they can't find enough stupid people willing to spend $250 on jeans that look like $25 jeans.

Amazingly that dirtball from Tigerking didn’t keep them in business.

Prime example of a company that should not be “bailed” out... they were obviously already failing before the crisis.

Overpriced piece of junk anyway.

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