J Crew emerges from bankruptcy with new owner

The business submitted for the protection in May for the reason that of the impression of Covid-19.

It suggests it is now “well-positioned for extensive expression growth”. The completion of its restructuring process implies that US personal fairness company Anchorage Money Associates now owns a the vast majority stake in the team.

The the vast majority stakeholder has also supplied a $400m (£312m) senior secured expression bank loan together with GSO Money Associates, Davidson Kempner Money Administration and other buildings. J Crew has also secured a new $400m (£312m) Asset-Primarily based Lending (ABL) credit history facility thanks in 2025 backed by the Bank of America.

Chief govt officer of J Crew Group, Jan Singer, said: “Looking forward, our method is centered on 3 main pillars: providing a centered variety of legendary, timeless solutions elevating the brand name knowledge to deepen our romance with customers and prioritizing frictionless buying. As a reinvigorated firm, we are fully commited to serving the shifting existence and style of modern multifaceted buyer and to providing extensive expression, sustainable benefits.”

Anchorage chief govt, Kevin Ulrich, added: “We see an huge opportunity for development and expansion at [J Crew] and are assured [its] current robust direct-to-buyer and e-commerce platforms will position the firm to be successful in modern evolving retail landscape.”