Richmond, VA -- (ReleaseWire) -- 05/04/2020 --J. Crew Group Inc. ("J. Crew") is seeking to restructure its debt under chapter 11 of the bankruptcy code as the retailer suffers amid flagging sales due to the corona pandemic. The pandemic sales slump only exacerbated J. Crew's woes related to its heavy debt burden. J. Crew filed for bankruptcy on May 4, 2020 in the Eastern District of Virginia, Richmond Division.
Lenders led by Anchorage Capital Group, Blackstone Group Inc.'s GSO Capital Partners and Davidson Kempner Capital Management are providing $400 million of financing to maintain operations during the Chapter 11 restructuring.
J. Crew operated 182 J. Crew-branded stores, 140 Madewell stores and 170 factory stores as of March 2, 2020.
Bankruptcy petitions were filed by affiliates of J. Crew including:
J. Crew Virginia, Inc.
Chinos Holdings, Inc.
Chinos Intermediate Holdings A, Inc.
Chinos Intermediate, Inc.
Chinos Intermediate Holdings B, Inc.
J. Crew Group, Inc.
J. Crew Operating Corp.
Grace Holmes, Inc.
H.F.D. No. 55, Inc.
J. Crew, Inc.
J. Crew International, Inc.
J. Crew Brand Holdings, LLC
J. Crew Brand Intermediate, LLC
J. Crew Brand, LLC
J. Crew Brand Corp.
J. Crew Domestic Brand, LLC
J. Crew International Brand, LLC
J. Crew's bankruptcy cases are being jointly administered under its chapter 11 case identified as Chinos Holdings, Inc., case numbered 20-32181. Proposed counsel for J. Crew are the law firms of Weil, Gotshal & Manges LLP and Hunton Andrew Kurth LLP. Omni Agent Solutions, Inc. is serving as the noticing and claims agent.
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in J. Crew's bankruptcy.
Ronald Page, PLC
PO Box 73087
N. Chesterfield, VA 23235