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Gordon Brothers Provides $10MM Term Loan Commitment to Tuesday Morning

June 08, 2022, 08:00 AM
Filed Under: Retail

Gordon Brothers provided Tuesday Morning a $10 million committed term loan to increase the company’s liquidity and support its continued growth.
Tuesday Morning, a publicly traded off-price retailer of housewares, home furnishings and seasonal décor, will use the funds to refinance and pay off existing debt and for working capital purposes.
“Tuesday Morning’s veteran leadership team successfully navigated a pandemic-driven downturn and initiated a recovery plan to support Tuesday Morning’s transformation to a true off-price retailer,” said Kyle C. Shonak, Head of Lending, North America at Gordon Brothers. “We’re thrilled to deliver the capital needed to achieve continued resiliency for the company.”
“Gordon Brothers’ team of experts has been an invaluable resource to us,” said Jennifer Robinson, Chief Financial Officer at Tuesday Morning. “With their support, we have improved our liquidity and were able to repurchase $5 million of our higher interest rate term loan.”
Gordon Brothers Capital provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide our expertise and additional capital in special situations. The firm’s tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.

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