that it had reached an agreement with its lenders to convert around $1.65 billion of its debt into equity. $1.7 billion in debtAccording to The Wall Street Journal, it had planned to leverage a 2020 IPO of its popular Madewell brand to lessen some of its debt. However,near the end of March as the company failed to reach a deal with lenders.
The retailer has had ups and downs in recent years. After going private in a leveraged buyout by TPG and Leonard Green & Partners in 2011, it experienced a bit of an identity crisis, raising prices when many shoppers were seeking more budget-conscious options. FormerDrexler left his post in 2017 after 14 years as CEO. J.Crew also lost longtime creative director Jenna Lyons and narrowly avoided bankruptcy around the same time.
marqlamar Now who's going to pay for young people to show up at Republican rallies?
colette has done it, and now j.crew too? 😖
No worries. jcrew are friends of Trump’s. I’m sure he’s got some bail out money just for them.