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Salus Capital, Frederick’s of Hollywood Increase FILO Credit Line to $14 Million

May 30, 2013, 08:02 AM
Filed Under: Retail

Frederick's of Hollywood Group announced that Salus Capital Partners, the company's lender, has increased the FILO Advance credit line portion of the company's credit facility by $5.0 million to $14.0 million.

"By increasing the FILO Advance credit line to $14 million, we have greater financial flexibility to work with vendors and invigorate our merchandising strategy, which will play an important role in stabilizing our business. We are focused on reconnecting with our customers by returning to our roots and expanding our offering of core intimate apparel products in order to improve sales," stated Thomas Lynch , the company's chairman and chief executive officer. "Salus Capital has been a strong financial supporter of our business by providing us with a credit facility to support our turnaround strategy over the past year.  We are excited to receive their continued vote of confidence with improved terms of our credit facility that provide greater financial flexibility."

Frederick's of Hollywood Group Inc., through its subsidiaries, sells women's apparel and related products under its proprietary Frederick's of Hollywood® brand through 112 specialty retail stores, a catalog and an online shop.

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