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Here’s Why J Jill Stock Has Surged 90% Today…

Updated 14 Sep 2020
J.Jill Stock price

Shares of women’s clothing brand and retailer J Jill (NYSE: JILL) have jumped 90% premarket after the company announced it has obtained consent from loan lenders to implement its financial restructuring…

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The company has avoided filing for bankruptcy after lenders and significant shareholders agreed to an out-of-court financial restructuring.

The retailer stated that it received the support of 97% of lenders to extend the maturity of the loan debt to May 2024 and that all existing non-compliance with the terms of the company’s credit facilities will be waived.

J Jill reported last week that its sales had plummeted almost 50% in the second quarter.

J Jill share price…

J Jill (JILL)/Source: TradingView

The news has resulted in J Jill’s share driving higher. They are currently trading at $0.94 per share, up 88.26% premarket on Monday.

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