Jewelry Retailer Alex and Ani Files Chapter 11 Bankruptcy

Alex and Ani, known for its trendy bracelets, filed for Chapter 11 bankruptcy protection on June 9. The company said it had reached a restructuring agreement with its lenders and its equity sponsors. It plans to continue operating its existing stores and website during the court-supervised proceedings.

The East Greenwich, Rhode Island-based company's assets are roughly worth from $100 million to $500 million. Its liabilities total a similar amount, according to Reuters.

The company, which has more than 500 employees, said it is working with its debt holders and its equity sponsors to implement a restructuring plan to stabilize its business.

COVID-19 impact of Alex and Ani Co.

Robert Trabucco, Alex and Ani’s Chief Restructuring Officer, said in a press release that in response...

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