- Marjorie van Elven |
Madewell is looking to go public in September, right after Labor Day. Citing anonymous sources familiar with the matter, Reuters reports that J. Crew Group is holding talks with investment banks to prepare for Madewell’s IPO.
Back in April, the company announced it was considering the possibility of taking its Madewell division public with the aim to return the group to profitability. J. Crew has been struggling for quite some time, with a debt of nearly 1.7 billion US dollars.
According to Reuters, J. Crew has enlisted Bank of America, Goldman Sachs, JPMorgan Chase & Co and Morgan Stanley as the lead underwriters for an IPO of Madewell. Representatives of all these companies declined to comment, as did J. Crew.