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Second Avenue Capital, White Oak Co-Agent $35MM Credit Facility for Charming Charlie

April 18, 2019, 09:15 AM
Filed Under: Retail

Second Avenue Capital Partners, LLC (SACP), and White Oak Commercial Finance, LLC (White Oak), an affiliate of White Oak Global Advisors, LLC, announced today the closing of a $35,000,000 asset-backed revolving credit facility for Charming Charlie, a Houston-based women’s specialty retailer. The new facility will be used to finance the company’s working capital needs.

Chris O’Connor, President of SACP, expressed his excitement about working with Charming Charlie and its impressive leadership team. “The Charming Charlie stores occupy a unique and important niche within women’s specialty retailing, and with SACP’s retail-centric focus and White Oak’s tailored financing structures, we were able to provide the support and flexible capital the Charming Charlie leadership team needs to execute its vision."

Robert Grbic, President and Chief Executive Officer of White Oak, stated, “Charming Charlie has demonstrated unparalleled progress in re-establishing a strong business amid many challenges, and we are pleased to work with SACP to help this iconic retail brand reach for new levels of success.”

Charming Charlie, a source of style for women since 2004, is an award-winning company with an inspiring in-store experience. With 262 stores throughout the country, Charming Charlie is known for offering a wide array of women’s apparel and fashion accessories, beauty, gifts and more, all ingeniously arranged by color.

"Both Second Avenue Capital Partners and White Oak took time to understand the nuances of our business and helped us structure a capital solution that matched our needs," said Lana Krauter, Chief Executive Officer of Charming Charlie. "With the assistance of partners that understand the opportunities and challenges of retail today, Charming Charlie is well-positioned to continue delivering on-trend, high quality product to our growing customer base."

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