J.Crew Group Inc. announced a move it hopes will ease its heavy debt load and give it more time to right its business, as the embattled retailer also reported its 11th consecutive quarter of same-store sales declines. The retailer, which was taken private in 2011, said Monday it had made an offer to some of its bondholders to push back its most pressing debt obligation—about $567 million due in May 2019—and amend its term loan.

Source: Wall Street Journal June 12, 2017 22:07 UTC