By  on December 2, 2019

J. Crew Group is proceeding with its plan to spin off its fast-growing Madewell brand into a separate public company, but continues to lose money.

The Madewell initial public offering plan is geared to reduce a substantial portion of the group’s $1.7 billion in debt, realize the true value of the popular Madewell brand, and shore up J. Crew so it can rebound.

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