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Bloomberg
True Religion Apparel Inc, once a fast-growing premium jeans brand, filed for bankruptcy in Delaware, its second Chapter 11 since 2017.
The company, acquired by New York- and London-based investment management firm TowerBrook Capital Partners in 2013 for $824 million, lists assets and liabilities of as much as $500 million each in the petition.
Founded in 2002 and headquartered in Manhattan Beach, California, True Religion made its mark as a designer jeans maker when premium denim was a hot fashion trend in the mid-2000s.
The label could be spotted on the legs of celebrities such as Eva Longoria and Cindy Crawford.