Plus-Size Retailer Fullbeauty Files for Bankruptcy to Trim Debt

Fullbeauty Brands Inc., the women’s plus-size clothing retailer, filed for bankruptcy protection to clean up its debt-plagued balance sheet and hand over the keys to its senior lenders including Oaktree Capital Group LLC and Goldman Sachs Group Inc.

The company filed for Chapter 11 on Feb. 3 in U.S. Bankruptcy Court in White Plains, listing $1 billion to $10 billion of liabilities, according to the filing. The court-supervised process will cut about $900 million of debt, allowing the company to keep operating while it works to turnaround its business and satisfy its financial obligations.

After months of negotiations, Fullbeauty lined ...