(Reuters) – J. Crew Group Inc has tapped restructuring lawyers for the second time in as many years to explore options for reworking its debt, as the U.S. clothing chain struggles with falling sales and a dwindling cash pile, people familiar with the matter said on Thursday.
The companys decision to seek help with its debt once again underscores the persistent business challenges J. Crew faces despite recent turnaround and financial restructuring efforts. A shift to pricier apparel turned off some shoppers, and J. Crew faces competition from e-commerce firms such as Amazon.com Inc that have squeezed an array of traditional retailers.
The preppy fashion retailer in recent weeks enlisted restructuring attorneys at Weil, Gotshal & Manges …
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