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KKR-Backed Women’s Fashion Firm Files for Bankruptcy Protection

  • The Collected Group’s brands include Joie, Equipment
  • Lenders would take ownership under plan judge will consider
Joie  Window Display, New York, United States
Photographer: Eugene Gologursky/Getty Images

The Collected Group Company, a women’s fashion firm co-owned by private equity giant KKR & Co., filed for bankruptcy protection with plans to slash debt and give senior lenders ownership.

Under a reorganization proposal that must be approved by a judge, the company would eliminate $150 million in debt, the second time in three years the company restructured its balance sheet. In 2018, affiliates of KKR and Callodine Commercial Finance swapped about $40 million in debt for ownership as part of an out-of-court restructuring, according to court papers.