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Jeans company True Religion files for bankruptcy amid coronavirus pandemic

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Jeans retailer True Religion Apparel Inc. filed for bankruptcy protection under Chapter 11 on Monday, the second time in three years, as extended closures of its stores in the pandemic have hurt its business.

In a statement to The Associated Press, the company’s CEO, Michael Buckley, says that True Religion, based in Los Angeles, will continue to run its e-commerce business.

Buckley said the retailer has been able to get financial support from its largest lenders to provide fresh capital to reorganize in bankruptcy court. “We also look forward to using the Chapter 11 reorganization process to help us with our business relationships in what we hope is a short stay in Chapter 11,” Buckley said in a statement.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
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Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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