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White Oak Commercial Finance Provides $25MM ABL Facility for Acquisition of Women’s Apparel Brands

October 14, 2020, 09:08 AM
Filed Under: Apparel

White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, LLC, announced it provided a $25 million ABL facility to Saadia Group, LLC for the acquisition of two women’s apparel brands from e-commerce retailer, RTW Retailwinds Inc. (“RTW”), which is undergoing bankruptcy proceedings.

The funding, completed in less than 30 days, supports Saadia Group’s acquisition of RTW’s e-commerce brands, New York & Company and Fashion to Figure, and their related intellectual property. The company plans to incorporate and promote the legacy brands to further increase its online retail footprint.

"White Oak is pleased we were able to provide a timely financing solution that will result in the continuation of two well-known brands that will contribute to Saadia Group’s expansion of its e-commerce platform,” said White Oak Managing Director, Charles Sharf.

Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: “We are delighted to have successfully closed on the purchase of this business. We believe in the New York & Company and Fashion to Figure brands and the opportunity to use these e-Commerce platforms to continue to grow the business as we move forward. Finally, I want to thank our team at the Saadia Group, our legal team at Armstrong Teasdale and Robinson and Cole, and especially White Oak Commercial Finance, who all supported us through this process and helped us close this extremely complicated transaction.”

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