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Siena Lending Group Provides $7.5MM Revolver to Menswear Retailer

November 08, 2017, 07:00 AM
Filed Under: Retail

Siena Lending Group LLC announced the closing of a three-year $7.5 million asset based revolving credit and FILO term loan facility for B&B Bachrach, LLC (Bachrach), a menswear retailer headquartered in Los Angeles, California.  The financing was completed in conjunction with Bachrach’s emergence from Chapter 11 Bankruptcy proceedings and was used to refinance existing debt and provide additional working capital to support business growth following the Company’s exit.

Established in 1877, Bachrach is a tradition of fashionable clothing for the everyday man, a customer first company offering quality clothing at affordable prices. Bachrach sells branded men’s suits, pants, shirts, ties, shoes and accessories at its stores in major malls in 10 states across the country, primarily in the Midwest, Eastern and Southern U.S., as well as e-commerce sales through the Company website. 

Brian Lipman, CEO of B&B Bachrach, said, “Mark and the Siena team have been a pleasure to work with from the first call.  Siena was responsive and worked diligently to come up with the best financing plan for Bachrach and expedited the process.  They made a very difficult situation smooth and worked with us through the entire proceedings.  I am looking forward to a long and profitable relationship with Siena.”

Mark Orlando, Director and Western Region Manager of Siena Lending Group, said, “We are pleased to complete this financing for Bachrach to provide for the next chapter in this long-established business. Our team at Siena showed the creativity and flexibility needed to structure a financing that included not only a revolver but also a FILO term loan to maximize the Company’s asset value for lending capacity.  We are impressed with Brian and what they were able to accomplish through the reorganization process to position Bachrach for success, and are excited to support their business in the years ahead.”

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