Fashion retailer with 4 Houston-area locations files for bankruptcy protection

The parent company of fashion retailer J. Crew, Chinos Holdings Inc., and 17 affiliates filed for bankruptcy protection May 4.

The seller of preppy clothing listed both assets and liabilities in the range of $1 billion to $10 billion, according to court documents.

J.Crew Group Inc. said it has reached an agreement with its lenders to restructure its debt, under which the lenders have agreed to convert $1.65 billion of J.Crew’s debt into equity. It will also get $400 million in debtor-in-possession…