Fullbeauty Breaks Record for Fastest U.S. Bankruptcy (1)

Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest U.S. corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company.

The company had support from all its stakeholders when it filed for Chapter 11 status on Feb. 3 in the U.S. Bankruptcy Court in White Plains, New York. Fullbeauty, which had more than $1 billion of borrowings, is cutting around $900 million of debt through the bankruptcy process, allowing it to funnel less cash toward interest payments while it turns itself around.

Judge Robert Drain said on ...