Madewell brand, J.Crew announcement.
IPO for Madewell brand ?
J. Crew announced yesterday that it is entertaining the idea of spinning off its Madewell brand in an initial public offering that would occur later this year. The potential transaction would give J. Crew an influx of cash that it could use to pay off its debt of $1.67 billion. It also said that Michael J. Nicholson, its president and COO, has been named interim CEO. That top position has been vacant since November 2018.