Once again J.Jill has received more time to keep a potential bankruptcy filing at bay.
Operating 280 stores, the struggling women’s apparel retailer has yet again reached an agreement with lenders to extend a forbearance period to 30 July, 2020, giving the company another week to complete negotiations.
J.Jill entered into two forbearance agreements in mid-June after falling out of compliance with certain covenants on its asset-based lending and term loan credit facilities amid the Covid-19 pandemic. In a 10-K filing at the time, the company said it had doubts about its ability to remain.
The news follows on from a similar story a week ago and is the end result of the company struggling financially pre-Covid-19.
