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The Lycra Co. to Complete Comprehensive Financial Restructuring

May 20, 2026, 2:36 AM UTC
Audrey Wan
Audrey Wan

The Lycra Company will successfully complete its comprehensive financial restructuring process and emerge from Chapter 11 protection on May 20, according to an official release.

  • Company will have reduced its total long-term debt by more than $1.2 billion and will obtain more than $75 million in new money investment
  • Co. will be supporterd by new equity owners, which are investment funds that have been long-term investors in co.’s securities
  • Dean Williams, the company’s chief financial officer, has been appointed interim chief executive officer
    • Search will be conducted for a permanent CEO
  • Former CEO Gary Smith has stepped down and separated ...





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