Denim maker True Religion has filed for Chapter 11 bankruptcy protection, the company announced July 5.
The filing came after the retailer’s owner, private equity firm TowerBrook Capital Partners, signed a deal with lenders, including Goldman Sachs , Waddell & Reed and Farmstead Capital Management, to wipe out $350 million of its $535 million total debt in exchange for about 90 percent of equity, according to the Wall Street Journal. True Religion will operate "without interruption" during the bankruptcy…
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