True Religion Joins Other Declining to Nearly Dead Brands
It's a rough time for retail.
Moody's has downgraded True Religion, the once popular denim brand, noting that the rating outlook is negative.
True Religion may have to close additional stores or find a financial partner to avoid defaulting on its roughly $485 million debt load.
The denim market has become overly saturated during the past three years, creating challenges for mid-priced and high-priced brands, and True Religion's jeans currently retail for $159 to $339.
True religion joins other once popular brands like BCBG, The Limited and American Apparel in their recent unfortunate news regarding store closures.
This article was written by a staff member of TheStreet.
