The LYCRA Company completes financial restructuring and reinforces its global growth strategy

The LYCRA Company announced the successful completion of its financial restructuring process and its official exit from Chapter 11 protection on May 20, 2026. This marks a new phase for the company, which will operate with greater financial flexibility, a strengthened capital structure, and an expanded focus on innovation, operational excellence, and long-term growth.

A global leader in the development of fiber solutions and technologies for the apparel and personal care sectors, the company concludes the process with a reduction of approximately US$1.2 billion in its total debt and a new capital injection exceeding US$75 million.

According to the company, the new financial structure will allow it to accelerate strategic investments, expand partnerships with clients, and strengthen global operations without interruptions to its activities. Throughout the process, The LYCRA Company maintained its operations normally, preserving its commitments to employees, clients, and suppliers.

The company also now has a new shareholder base, formed by global investment funds that already held stakes in the company’s securities and are now assuming a strategic role in supporting the future growth of the business.

As part of this new phase, Dean Williams, the company’s former CFO, has been appointed interim CEO. The executive has been involved with the company since its founding and has experience in financial leadership, strategic planning, and operational management. Gary Smith, the company’s former CEO, left the position after leading the restructuring period.

In addition, The LYCRA Company announced the formation of a new Board of Directors. Bruce Rubin, an executive in the chemical and energy sectors with over 45 years of experience, will serve as executive chairman of the board.

“With this solid foundation established, The LYCRA Company will be well-positioned to elevate operational excellence, accelerate innovation, deepen customer partnerships, and reinvest in our high-quality products,” said Rubin.

Dean Williams highlighted that the completion of the process represents a decisive moment for the company. “Now we will be a financially stronger organization, more focused and positioned for growth,” the executive stated.

The company reinforces that it will continue investing in innovation, product development and strengthening its global brands, maintaining its focus on advanced solutions for the textile and apparel industry.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries and owns leading consumer brands: LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX®, and TACTEL®. Headquartered in Wilmington, Delaware, USA, The LYCRA Company is recognized worldwide for its sustainable products, technical expertise, and marketing support. The LYCRA Company focuses on adding value to its customers’ products through the development of unique innovations designed to meet consumer needs for comfort and lasting performance. Learn more at www.thelycracompany.com

LYCRA® is a registered trademark of The LYCRA Company.