After an unsettling financial year, J. Crew has decided to take their company private. Chairman and CEO Millard Drexler joined with private equity firms TPG Capital and Leonard Green & Partners in a 3 billion dollar buyout of the company. This was a smart decision for J. Crew after loosing 13.8 percent of profits in their third quarter. Oh J. Crew, hopefully this will be a smart move. Would be sad to see this empire go under.
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