Premium denim brand True Religion Apparel Inc. became the latest retailer to emerge from bankruptcy last month.
The Manhattan Beach company, which filed for Chapter 11 protection in July, announced it was out of bankruptcy after a Delaware federal bankruptcy court judge approved its restructuring plan Oct. 5.
The deal will allow the company, owned by New York investment firm TowerBrook Capital Partners, to keep operating by reducing its term loans from $471 million to $113.5 million and extending its debt maturities to 2022, it said in a press release.
Staff reporter Caroline Anderson can be reached at [email protected] or (323) 556-8329.
