To Our Valued Vendors,
Thank you for your support as we pursue our financial restructuring, which we believe is the best and clearest path forward for our business. We are committed to keeping you updated during the process, and to that end, we are pleased to inform you that on May 5, 2020 the Bankruptcy Court granted the company interim approval on all our first day motions, confirming that J.Crew and Madewell expect to continue operations throughout the restructuring.
In addition, the Court has granted J.Crew Group interim approval to access debtor-in-possession (DIP) financing from a group of our existing lenders, which will provide us with robust funding to support ongoing operations during the restructuring process. As we noted previously, this commitment demonstrates strong support and confidence among our lenders, who share our vision for the company’s long-term success.
These approvals mark an important step forward in our financial restructuring process. We have the legal and financial ability to remain fully operational, and we will continue to work closely with you, our valued vendors, as we move through this process as quickly and efficiently as possible.
We will continue to update you as there are developments to share. You may also contact J.Crew Group’s claims agent, Omni Agent Solutions, at (866) 991-8218 (U.S. & Canada) and (818) 924-2298 (International), or by email at email@example.com.
We appreciate your partnership and look forward to continuing to work together as we position the company for the future.
Michael J. Nicholson
President and Chief Operating Officer, J.Crew Group, Inc.