Jul 5, 2017

Why is there a random a--- picture of OJ being arrested

 

Jul 5, 2017

True Religion Brand Jeans, burdened by an expensive pile of debt, on Monday filed a pre-pack Chapter 11 petition that will hand control of the Los Angeles company over to creditors.

Under a deal with lenders, TowerBrook Capital Partners, the New York private equity firm that owns the denim company, will cut True Religion’s debt by more than 75 percent, or $350 million.

TowerBrook, which also owns apparel retailer J.Jill, Kaporal Jeans and the NHL’s St. Louis Blues, will retain a minority stake.

True Religion expects the reorganization to take 90 to 120 days, it said in a statement.

“After a careful review, we are taking an important step to reduce our debt, reinvigorate True Religion’s iconic brand and position the company for future growth and success,” John Ermatinger, the company’s president and CEO, said in a statement.
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