Apparel retailer J.Crew Group Inc. has won approval for its plan to emerge from bankruptcy with a deal cutting its debt and handing ownership to a group of its lenders led by hedge fund Anchorage Capital Group LLC.
Judge Kevin Phillips of the U.S. Bankruptcy Court in Richmond, Va. said Tuesday he would confirm J.Crew’s chapter 11 plan of reorganization in which lenders will swap about $1.6 billion in debt for the company’s equity. The plan also provides for $400 million in exit financing and $400 million in new term loans...
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August 26, 2020 at 02:46AM
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J.Crew Wins Approval to Exit Chapter 11 Bankruptcy - The Wall Street Journal
"Exit" - Google News
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