TPG-Backed UK Clothing Chain To Unwind After Dismal Sales

Law360, New York (February 13, 2013, 5:03 PM EST) -- U.K. fashion chain Republic Ltd. fell into insolvency Wednesday after months of disappointing sales, putting a blemish on TPG Capital, its Texas-based private equity owner, despite the firm's repeated attempts to inject new equity into the company and right its course.

The move comes a few days after rumors first bubbled up in the media that the clothing company could be in trouble thanks to weak consumer spending that was eating into its bottom line. Republic and TPG had stayed quiet about the reports, but Ernst...
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