True Religion, the Los Angeles-based manufacturer of designer denim, is the latest retailer to file Chapter 11. The brand came to prominence in the early 2000s, when high-end denim bars were all the rage and no one used the term “athleisure.” Now True Religion is looking to reduce its $500 million debt load with hopes of emerging from bankruptcy later this year. At least 27 of the company’s 130-plus stores are expected to close. No word yet on the fate of the Westfield Montgomery Mall location, which opened in 2014.
