J. Crew makes preparations for possible debt restructuring: sources

A debt restructuring would underscore the challenges the company has faced since it was acquired by private equity firms TPG Capital LP and Leonard Green & Partners LP in a $3 billion leveraged buyout in 2011. J. Crew has struggled as many shoppers have shunned malls and turned to internet shopping. As part of its preparations for negotiating with its creditors, J. Crew is planning to move the rights to its iconic brand into a separate subsidiary, the people said.