New York City — J.Crew Group has taken important steps to build out its leadership team in order to advance its long term strategic growth plan. The company has appointed four highly experienced retail industry leaders — Jose Davila, chief people officer; Danielle Schmelkin, chief information officer; Derek Yarbrough, chief marketing officer; and Liz Hershfield, senior vice president, sustainability — to its senior management team. “I believe strong and relevant brands are customer-centric, community-minded, purpose-driven and powered through innovation, technology and a deeply collaborative culture,” says Libby Wadle, chief executive …
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New York City — J.Crew Group, Inc. has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company has secured commitments for a debtor-in-possession financing facility of $400 million and committed exit financing provided by existing lenders Anchorage Capital Group, L.L.C., GSO Capital Partners and Davidson Kempner Capital Management LP, among others. Subject to court approval, the DIP financing, combined with the company’s projected cash flows, is expected to support its operations during the …