Spandex Maker Lycra Files for Bankruptcy to Cut $1.2 Billion in Debt

Spandex-maker The Lycra Company files for Chapter 11 bankruptcy

Spandex-maker The Lycra Company has filed for Chapter 11 bankruptcy in Texas to implement a restructuring deal that will see most of its debt written off after creditors took control of the business.

Spandex maker Lycra files for bankruptcy to cut $1.2 billion in debt

The Lycra Company, a maker of spandex and other stretch fabrics, has filed for Chapter 11 bankruptcy protection in Houston, Texas, on ​Tuesday, seeking to shed $1.2 billion in debt.

The LYCRA Company to Eliminate More than $1.2 Billion of Debt through Prepackaged Restructuring Process, Positioning Business for Long-Term Financial Stability and Growth

WILMINGTON, Del.--(BUSINESS WIRE)--Mar 17, 2026-

Lycra Company Files Chapter 11 Bankruptcy to Aid Restructuring

Spandex and apparel fiber maker The Lycra Company has entered a Chapter 11 restructuring support agreement with its creditors that will help erase around $1.2 billion in long-term debt.

The Lycra Files for Chapter 11 in Bid to Untangle $1.2 Billion Debt

In a move that rippled through the global textile industry, The Lycra files for chapter 11, signaling a dramatic restructuring effort aimed at shedding a heavy debt load while keeping operations intact. The stretch-fabric giant, The Lycra Company, filed for Chapter 11 bankruptcy protection Tuesday in Houston, Texas, seeking to offload approximately $1.2 billion in The Lycra files for chapter 11 to cut debt and restructure amid global textile pres