True Religion Finds Religion, Declares Bankruptcy

True Religion Apparel, the upscale brand whose jeans can sell for north of $200 dollars each, is filing for bankruptcy reorganization, fulfilling a prediction made by Moody’s and marking the latest example of the Amazon effect and the expected bloodbath in retail. But is it a story of online retailing rolling, or a case of a fad falling out of fashion? True Religion blames online competition, but new designs were not catching fire After losing $78.5 million last year, True Religion is shuttering its remaining 140 retail stores and restructuring its debt so it can focus more online, a threat…