Lycra Files for Bankruptcy, Seeks Restructuring
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Lycra, the iconic spandex fiber brand, files for Chapter eleven bankruptcy, aiming to fix debt issues through a prepackaged restructuring plan. The company, known for its versatile use in activewear, swimwear, and more, has faced challenges from pandemic supply chain issues, inflation, competition, and trade problems. Despite these hurdles, Lycra expects a swift resolution with new funding, ensuring business continuity for employees and customers worldwide.
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