Oaktree, Goldman Said to Gain Control in Fullbeauty Bankruptcy

Fullbeauty Brands, the women’s plus-size clothing retailer owned by Apax Partners and Charlesbank Capital, has lined up support from creditors for a pre-arranged bankruptcy that would hand control to senior lenders including Oaktree Capital Group LLC and Goldman Sachs Group Inc.

The Chapter 11 bankruptcy would cut about $900 million of debt, Fullbeauty said in a statement Thursday. The filing allows the company to keep operating while it works out a plan to turn around the business and satisfy its debts.

Fullbeauty expects to make the U.S. bankruptcy filing around Feb. 4 in Manhattan, according to a company ...