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In Finance, ‘J. Crew’ Is a Verb. It Means to Stick It to a Lender
It’s worth keeping the J. Crew story in mind when listening to the debate over leveraged loans.
18 Jun 2019, 02:31 PM IST
(Bloomberg Businessweek) -- J. Crew Group Inc. and its private-equity owners pulled off a neat move in 2016. The deeply indebted preppy retailer needed to raise money but didn’t have any fresh assets to pledge as collateral for a loan. Whatever of value it owned was already pledged to existing lenders.
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