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Wells Fargo Capital Finance, part of Wells Fargo & Company, named Holly Kaczmarczyk head of the Supply Chain Finance Group and her expected transition will take place in the fourth quarter. In her role, Kaczmarczyk will be working closely with clients to offer working capital solutions that address the financing needs of corporations and their supply chain partners to help improve growth, mitigate risk and improve cash flow across a broad range of industries, both domestically and Read Story

September 07, 2017 @ 07:30 AM

Webster Financial Corporation, the holding company for Webster Bank, N.A. and its HSA Bank division, announced that James C. Smith, Chairman and Chief Executive Officer (CEO), following a distinguished career with Webster spanning more than four decades, will retire from Webster and transition to non-executive chairman.John R. Ciulla, President, will become the company's CEO and a member of the holding company's Board of Directors. Ciulla will succeed Smith, who has served as Webster's CEO since Read Story

September 19, 2017 @ 07:50 AM

Toys“R”Us, Inc. announced that the company and certain of its U.S. subsidiaries and its Canadian subsidiary have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond, VA. In addition, the company’s Canadian subsidiary today intends to seek protection in parallel proceedings under the companies’ Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice. The company intends to use these Read Story

Filed Under: Retail
September 19, 2017 @ 07:35 AM

White Oak Commercial Finance, LLC (WOCF), one of the nation’s leading financiers serving the middle market, announced that it has provided a $20 million dollar factoring facility to a distributor of luxury and branded apparel, accessories, handbags and watches. The proceeds will provide working capital to purchase inventory, manage account payables, and repay existing debt. “White Oak Commercial Finance has a deep history in retail financing, having provided designers, importers and Read Story

Filed Under: Retail
September 13, 2017 @ 08:00 AM

Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced they acted as administrative agent, bookrunner, and syndication agent for several separate asset-based credit facilities totaling $2.2 billion in connection with the overall financing for the acquisition of Staples Inc. by affiliates of Sycamore Partners. The facilities supported the separate capitalization of Staples North American Delivery, Staples U.S. Retail and Staples Canada Retail.Sycamore Partners, a private Read Story

Filed Under: Retail
September 13, 2017 @ 08:02 AM

2017-09-21 06:37