True Religion Apparel, Inc., a company that designs, markets, sells and distributes premium fashion apparel through wholesale and retail channels, and four of its affiliates, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Lead Case No: 17-11460).  The Petition lists between $100 and $500 million in both assets and liabilities.  The Debtors are entering chapter 11 with a Restructuring Support Agreement (attached to the First Day Declaration) that is, according to the First Day Declaration, supported by the Ad Hoc Group and the Equity Parent.  The Debtors filed a Plan that, if confirmed and implemented, allows the Debtors to right-size their balance sheet and provide a viable path forward.  The Debtors seek the joint administration of these cases and authority to enter into a new $60 million senior, secured DIP Facility with Citizens Bank.  Prime Clerk LLC is the proposed  claims agent.  The Honorable Christopher S. Sontchi will be presiding over these cases.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.