Reuters logo
U.S. denim retailer True Religion files for bankruptcy protection
July 5, 2017 / 7:10 AM / 3 months ago

U.S. denim retailer True Religion files for bankruptcy protection

July 5 (Reuters) - Embattled 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 U.S. denim company whose signature products 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 company’s restructuring agreement with its lenders, including TowerBrook Capital Partners, will slash its debt by over $350 million, the company said in a statement.

Reporting by Subrat Patnaik in Bengaluru; Editing by Amrutha Gayathri

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below