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J.Crew files for bankruptcy protection, reaches debt-swap deal

J.Crew files for bankruptcy protection, reaches debt-swap deal

J.Crew Group on Monday filed for bankruptcy protection. The company said it has reached an agreement with its lenders to restructure its entire debt, under which the lenders agreed to convert $1.65bn of its debt into equity. Additionally, it has also secured a financing facility of $400mn from existing lenders that include Anchorage Cap, L.L.C., GSO Capital and Davidson Kempner Cap.

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