The retailer will keep more than half of its store locations open as part of their restructuring plan.
True Religion is an American denim clothing brand. Launched in 2002, True Religion emerged onto the Los Angeles denim scene by blowing up the construction of the classic five-pocket jean. They became iconic because they were unlike any before them.
True Religion filed for Chapter 11 bankruptcy protection in April, it was one of the first retailers that cited the effects of the Covid-19 pandemic in its filing. Their agreement sees a group of lenders that were owed $65.8M settled, and the plan will keep more than 50 of their existing 87 stores open to the public.
The company expects to exit bankruptcy in around ten days’ time.
