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The bankruptcy filing in U.S. Bankruptcy Court in Richmond, Virginia, allows J. Crew to stay in business while cutting its borrowings.(Unsplash)

Retail chain J. Crew Group file for bankruptcy protection

By HT Correspondent | Bloomberg
UPDATED ON MAY 04, 2020 04:25 PM IST
J. Crew Group Inc. filed for bankruptcy, unable to revive flagging sales of its preppy clothing line amid the coronavirus pandemic and crushed by debt rooted in a long-ago leveraged buyout.
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