J.Crew Successfully Emerges From Chapter 11 Bankruptcy With New Owner

J.Crew has now emerged successfully from its Chapter 11 bankruptcy with plans for long-term growth put in place after restructuring. Anchorage Capital Group has become its new majority owner following an equitization of more than $1.6 billion USD of secured indebtedness. Along with a new owner, the fashion brand has obtained a $400 million USD exit term loan from Anchorage, GSO Capital Partners, and Davidson Kepmner Capital Management, as well as a new $400 million USD ABL credit facility…

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