image: True Religion
U.S. denim retailer True Religion Apparel said on Wednesday it filed for bankruptcy protection and signed a restructuring agreement with a majority of its lenders. True Religion, a company whose denims have gradually fallen out of style, filed for creditor protection under Chapter 11 in the U.S. bankruptcy court in the District of Delaware, and listed assets and liabilities in the range of $100 million to $500 million.
UPDATED (8/23/2017): True Religion Apparel on Monday received a court order approving a $60 million loan from Citizens Bank to bolster the denim maker and retailer’s finances when it emerges from bankruptcy. The order was signed by Judge Christopher Sontchi of the U.S. Bankruptcy Court in Delaware.
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