True Religion Emerges From Bankruptcy Protection
True Religion Brand Jeans has exited chapter 11 bankruptcy protection in a move that reduces how much the retailer owes while giving it more time to pay it off, the Associated Press reported on Friday. The Los Angeles-based company said on Friday that its debt reorganization plan was approved by a bankruptcy court on Oct. 5. The plan reduces True Religion’s term loans from $471 million to $113.5 million and extends the time when the loans come due to 2022. True Religion filed for chapter 11 protection in July.
