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J.Crew Group Inc., the preppy U.S. retailer that recently fell on hard times, Monday filed for bankruptcy protection, as several high-profile companies in the U.S. battle with the economic and financial impact of the coronavirus pandemic.
The retailer said it has reached an agreement with its lenders to restructure its debt, under which the lenders have agreed to convert $1.65 billion of J.Crew’s debt into equity.
