J.Crew
Clothing · 114+ locations · NYC, Boston, Chicago, Los Angeles, San Francisco, Washington DC, and other major U.S. metros across 34 states
J.Crew reads as a preppy American catalog brand, but its 2020 bankruptcy handed control to hedge fund Anchorage Capital Group after $1.7 billion in debt converted to equity. A 2023 investigation found migrant children sewing its labels in a Los Angeles factory.
Part of J.Crew Group, Inc.
View the family treeThe Big Picture
J.Crew has been controlled by the hedge fund Anchorage Capital Group since a 2020 bankruptcy converted $1.7 billion of debt into equity, with no founder involvement since Arthur Cinader's 1997 retirement. A 2023 New York Times investigation documented migrant children sewing 'Made in America' tags into J.Crew shirts at a Los Angeles factory; the company said it would investigate but no public resolution has been reported. J.Crew now answers to the creditors who took it over, not the family that built it.
The Dirty Details
Ownership
Anchorage Capital GroupHedge Fund
Anchorage Capital Group is a New York credit and special-situations hedge fund founded in 2003 by Kevin Ulrich and Tony Davis. It became majority owner of J.Crew Group in September 2020, when the retailer's Chapter 11 restructuring converted roughly $1.7 billion of debt into equity; GSO Capital Partners (a Blackstone credit affiliate) and Davidson Kempner Capital Management also hold stakes from the same deal. J.Crew Group, in turn, owns both banners Ferret tracks. No primary source discloses the exact ownership split among the three creditors.
See all Anchorage Capital Group companies on FerretWhat do these scores mean? Learn more.
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Company data last updated August 2026
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