Deals
J. Crew Planning a Public Offering of Madewell Denim Brand
Shoppers browse items at a Madewell store in New York.
Photographer: Andrew H. Walker/Getty ImagesThis article is for subscribers only.
J. Crew Group Inc. plans to spin off its Madewell denim chain in a public offering, the company announced in a filing Friday, five months after announcing it was considering such a move.
The number of shares to be offered and the price range for the proposed offering haven’t yet been determined, according to the filing. The amount of the IPO is listed in the filing as $100 million, a placeholder that will likely change. Chinos Holdings Inc., which owns J. Crew, expects to use any proceeds to pay down debt and for general corporate purposes.