True Religion’s denims have fallen out of
style.
True
Religion
U.S. denim retailer True Religion Apparel Inc said on Wednesday
it filed for bankruptcy protection and signed a restructuring
agreement with a majority of its lenders.
True Religion, a company whose denims have gradually fallen out
of style, filed for creditor protection under Chapter 11 in the
U.S. bankruptcy court in the District of Delaware, and listed
assets and liabilities in the range of $100 million to $500
million.
The restructuring agreement with lenders, including TowerBrook
Capital Partners, will slash the company’s debt by over $350
million, it said in a statement….
Read the full article at: http://www.businessinsider.com/true-religion-files-for-bankruptcy-protection-2017-7