Gordon Brothers agented a $200 million delayed draw term loan for Big Lots Inc. The U.S. home discount retailer of general merchandise will use the loan’s delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon...
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Big Lots has increased its borrowing capacity by up to $200 million with a new "first in, last out" term loan facility (the "FILO Term Loan Facility") through 1903P Loan Agent, LLC, an affiliate of Gordon Brothers Capital. The FILO Term Loan Facility...
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Gordon Brothers has provided a $100 million exit facility commitment as Agent for Jo-Ann Stores LLC to support the U.S. arts and crafts specialty retailer's restructuring and bolster the company’s liquidity. Gordon Brothers provided a first-in, last...
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Eclipse Business Capital (“EBC”) provided an $85 million senior secured ABL credit facility to an electronics retailer. The credit facility is secured by accounts receivable and inventory. The transaction will refinance the Company’s existing...
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Arkhouse Management Co. LP submitted an increased all-cash proposal to acquire Macy’s for $24.00 per share along with its partner, Brigade Capital Management (“Brigade”). Arkhouse and Brigade have also disclosed additional information about their...
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Bloomberg reported that Macy’s plans to close almost a third of its namesake U.S. locations as the department-store chain seeks to fight off a pair of activist firms seeking to buy the company. Read the full Bloomberg news story here.
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February 29, 2024, 07:50 AM
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Gordon Brothers is supporting Kirkland’s Inc.’s strategic repositioning efforts with a $12 million first-in last-out delayed draw term loan. When drawn, the U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand will use...
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February 02, 2024, 07:47 AM
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Kirkland's, a specialty retailer of home décor and furnishings, entered into a supplemental credit facility on January 25, 2024, which will increase its available credit by up to $12 million.To support its strategic repositioning efforts, Kirkland's...
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January 29, 2024, 08:00 AM
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Iron Horse Credit (“IHC”) closed a $1,500,000 stand-alone inventory revolving line of credit to an online pet care and food retailer. After struggling to identify reliable financing as an online and Amazon seller, the company opted for a...
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January 10, 2024, 07:00 AM
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Gordon Brothers facilitated Soft Surroundings’ going concern sale to Coldwater Creek through the U.S. women’s clothing and accessories retailer’s filing of Chapter 11 bankruptcy in September. Coldwater Creek, a U.S. women's apparel, accessories...
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December 06, 2023, 07:49 AM
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SSG Capital Advisors served as the investment banker to Soft Surroundings Holdings, in the sale of substantially all of its assets to an affiliate of Coldwater Creek and an affiliate of Gordon Brothers Group. The transaction closed in November 2023...
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November 17, 2023, 07:43 AM
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MidCap Financial provided a $23 million senior revolving credit facility to Wine.com. The MidCap credit facility is part of a successful refinancing of the Company’s capital structure which will help support the Company’s continued growth. Proceeds...
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November 09, 2023, 08:08 AM
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Neiman Marcus Group announced that on October 27, 2023 it entered into a Fourth Amendment to the Credit Agreement governing the Company's $900 million asset-based lending facility, led by Bank of America as Administrative Agent and Collateral Agent...
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November 02, 2023, 07:40 AM
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Shift Technologies, a consumer-centric omnichannel retailer for buying and selling used cars, announced that it and its subsidiaries (collectively, “the Company”) intend to file a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy...
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October 09, 2023, 08:00 AM
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King Trade Capital provided a seasonal increase to an existing client's PO finance facility in support of their seasonal sales growth into big box retail.An existing client found that the cash flow provided by their factor was not sufficient to...
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September 21, 2023, 07:40 AM
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Siena Lending Group closed a $37MM revolving credit facility for Sharper Image. The facility was used to refinance Sharper Image’s existing senior debt and support the Company’s working capital needs. Siena worked closely with ownership and...
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September 13, 2023, 07:58 AM
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First Citizens Bank served as syndication agent, joint lead arranger and joint bookrunner on a $400 million senior credit facility for Alex Lee Inc. The five-year revolving credit facility refinanced existing debt and increased the facility size to...
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August 24, 2023, 07:54 AM
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First Citizens Bank's Middle Market Banking business arranged $58 million in financing for Tanger Houston, an open-air outlet center located in Texas City, serving an attractive Texas metropolitan area."Tanger Outlets is known nationwide for...
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August 02, 2023, 07:00 AM
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David's Bridal, the nation's leading bridal and special occasion authority, has successfully closed its transaction with CION Investment Corporation, a leading publicly listed business development company, for the sale of substantially all of the...
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TradeCap Partners recently extended a $700,000 Purchase Order Finance Facility to a minority, women owned startup apparel brand.Having started her brand with a D2C online presence only, the founder landed her first big opportunity with a large...
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Eclipse Business Capital provided financing to certain members of Shoppers World in conjunction with their acquisition of Forman Mills.Shoppers World is a discount retailer with 40 locations owned by the Dushey family. With the acquisition, Shoppers...
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Pathlight Capital is serving as the Administrative Agent on a $135,000,000 senior secured term facility for Designer Brands Inc., one of the world’s largest designers, producers, and retailers of footwear and accessories in North America. Proceeds...
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Vince Holding Corp., a global contemporary retailer, entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility expected to mature in June 2028. The new ABL Credit Facility was entered into...
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Aequum Capital closed a $7,500,000 credit facility to a premier distributor and retailer of small household appliances. The quality line of appliances are sold through national retailers and e-commerce channels. Aequum provided a solution which...
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ARKO Corp., one of the largest convenience store operators in the United States, announced two separate agreements that enhance the Company’s dealmaking flexibility and long-term growth strategy.On May 2, 2023, ARKO subsidiary, GPM Investments, LLC...
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Huntington Business Credit closed a new credit facility with Needler Enterprises, Inc. on February 27, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.Needler Enterprises, Inc....
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Aequum Capital closed $9,000,000 in credit facilities to a fast growing consumer products retailer. The Company is backed by a well known sponsor which recently acquired the Company. The credit facilities include a working capital revolver and a cash...
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A&G Real Estate Partners will be auctioning over 250 leases nationwide as part of a first round of store closures from Tuesday Morning Corp. in connection with the off-price home goods and décor retailer’s voluntary Chapter 11 reorganization. In...
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Tuesday Morning Corp., a leading off-price retailer of home goods and décor, announced that it is pursuing a financial and operational reorganization to enable the Company to reduce its outstanding liabilities, obtain significant and necessary...
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February 15, 2023, 07:50 AM
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Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, provided $5.3 million in lending to support the transition of ownership of Formaggio Kitchen, a regional chain of gourmet food...
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February 14, 2023, 08:03 AM
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Bed Bath & Beyond announced the closing of an underwritten public offering (the "Offering") of (i) shares of the Company's Series A convertible preferred stock (the "Series A Convertible Preferred Stock"), (ii) warrants to purchase shares of Series A...
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February 08, 2023, 07:54 AM
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Pathlight Capital announced the closing of a $78.3MM upsize (“Upsize Facility”) to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial, Inc. to support an incremental purchase of a...
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February 06, 2023, 07:57 AM
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Reuters reported Bed Bath & Beyond said on Thursday it had received a notice of default on its loan from JPMorgan Chase Bank, triggering a 22% slump in its shares.The company said in a regulatory filing it does not have sufficient resources to repay...
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January 27, 2023, 08:00 AM
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Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, announced that its Asset-Based Lending team provided an $8.8 million credit facility to Cascade School Supplies. Based in North Adams...
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January 19, 2023, 08:01 AM
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Gordon Brothers provided Everlane a $25 million term loan that’s secured by the sustainable apparel, accessories and footwear retailer’s digitally native brand and working capital assets. Everlane will use the loan to support over a decade of...
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November 30, 2022, 07:46 AM
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Fashion apparel retailer Express, Inc. announced two transactions in support of a comprehensive plan to refinance its capital structure and expand its liquidity access while concurrently reducing interest rate exposure and providing flexibility to...
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November 29, 2022, 08:00 AM
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Second Avenue Capital Partners (SACP) and Tiger Finance (Tiger) closed an $80 million credit facility for Casper Sleep, Inc. (Casper), the omnichannel retailer of innovative sleep products including mattresses, pillows and other sleep accessories....
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November 17, 2022, 08:01 AM
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Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, announced that its Asset-Based Lending team provided a $4 million revolving line of credit to Artist & Craftsman Supply (A&C), a...
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November 01, 2022, 07:56 AM
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PNC Bank closed a $900 million senior secured credit facility for Big Lots, Inc. PNC served as Administrative Agent for the facility and PNC Capital Markets LLC served as Joint Lead Arranger and Joint Bookrunner.“Big Lots has been a long-time client...
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October 21, 2022, 08:00 AM
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Pathlight Capital is serving as the Administrative Agent on a $148.2 million senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial, Inc. to support the acquisition of a portfolio of performing...
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October 18, 2022, 07:30 AM
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On September 30, 2022, Warby Parker and Warby Parker Retail entered into a Credit Agreement with the lenders and Comerica Bank, as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, according to an SEC filing dated September 30, 2022. The...
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October 07, 2022, 08:03 AM
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GA Europe, a B. Riley Financial company, is working with CM Sports GmbH ("CM Sports") to revitalize RENO, a leading German shoe chain. GA Europe will work together with CM Sports to strategically realign RENO's store footprint and restock stores with...
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October 05, 2022, 07:00 AM
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SSG Capital Advisors (“SSG”) acted as the investment banker to an affiliate of Stapleton Group, Inc., the assignee for the benefit of creditors (the “Assignee”) of Starcrest Products of California, Inc. (“Starcrest” or the “Company”) in the sale of...
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September 23, 2022, 07:55 AM
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First Eagle Investments announced that the First Eagle Credit Opportunities Fund had recently eclipsed $500 million in managed assets. The Fund, which was launched in December 2020, seeks to provide current income with a focus on delivering...
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September 19, 2022, 07:38 AM
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CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as agent on a $65 million revolving credit facility for Everlane, Inc., a leading retailer of sustainable apparel, accessories and footwear in the U.S. Founded in 2011 and based...
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September 16, 2022, 07:31 AM
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Olympia Sports, Antero Brands’ athletic footwear and apparel chain, has selected SB360 Capital Partners LLC, as their exclusive consultant to conduct “Going Out of Business” sales in their remaining 34 stores. Earlier this year, SB360 began a series...
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September 15, 2022, 08:00 AM
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Huntington Business Credit closed a $35,000,000 new credit facility with Sports Endeavors, Inc. on August 18, 2022. Sports Endeavors, Inc. is a new portfolio investment for Seawall Capital LLC, a private equity investment firm located in Austin...
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September 12, 2022, 07:59 AM
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Iron Horse Credit (“IHC”) closed a $3,500,000 stand-alone inventory revolving line of credit to an online Wellness and Nutritional Supplements retailer. The company has been a pioneer in developing high performance supplements and is actively...
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September 07, 2022, 07:35 AM
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Bed Bath & Beyond successfully completed its previously disclosed financing agreements. The Company has secured more than $500 million of new financing, including its newly expanded $1.13 billion asset-backed revolving credit facility ("ABL...
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September 02, 2022, 08:00 AM
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Saks.com has upsized its existing asset-based revolving credit facility arranged by Bank of America increasing borrowing capacity from $350 million to $450 million. Concurrently, Saks upsized its senior secured term loan facility, of which Pathlight...
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August 18, 2022, 07:53 AM
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MarineMax, the world’s largest recreational boat and yacht retailer, completed $1.35 billion in aggregate financing commitments.MarineMax completed the $1.35 billion senior secured credit facilities which is comprised of the following:
$750...
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August 09, 2022, 07:41 AM
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Main Street Capital Corporation recently completed a follow-on investment in an existing portfolio company. Main Street made the follow-on investment in Bolder Panther Group, LLC ("Smoker Friendly" or the "Company") to support the Company's...
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August 04, 2022, 08:02 AM
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According to a June 24, 2022 SEC filing, American Eagle Outfitters, Inc. obtained a new five-year $700 million senior secured asset-based revolving credit facility (the “ABL Credit Facility”), pursuant to an amendment and restatement agreement, dated...
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MidCap Financial provided a $70 million senior secured revolving credit facility to a luxury accessories retailer and digital platform. The MidCap credit facility refinanced the Company’s prior credit facility and will support the Company’s continued...
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When a California-based internet retailer and software company sought to refinance its existing bank facility, it chose Republic Business Credit.
Spiraledge, a leading internet retailer and healthy living company headquartered in Campbell, Calif....
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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...
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MidCap Financial provided a $60,000,000 senior secured credit facility, comprising a $50,000,000 asset-based revolving line of credit and $10,000,000 term loan, as well as a $500,000 preferred equity co-investment to Bob’s Stores (“Bob’s”) and...
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Wingspire Capital provided a $30 million revolving line of credit to Ashley Stewart to refinance debt and to support future growth. Ashley Stewart is an omni-channel retailer that sells apparel for plus-size women. Founded in 1991 and based in...
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RH announced the completion of an incremental $500 million term debt financing.Consistent with the strategy of the original $2.0 billion term debt financing in October, 2021, the additional $500 million represents an attractive cost of capital and...
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Huntington Business Credit acting as Administrative Agent, Joint Bookrunner and Joint Lead Arranger closed a new $550,000,000 credit facility with Designer Brands Inc. on March 30, 2022. Proceeds of the facility were used to refinance existing debt...
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First Eagle Investments (“First Eagle”) announced that total assets under management in the First Eagle Credit Opportunities Fund (A-Share Class: FECAX; I-Share Class: FECRX) had eclipsed the $350 million threshold approximately 18 months since its...
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Sprouts Farmers Market closed a $700 million revolving credit facility under a credit agreement dated as of March 25, 2022. The Revolving Credit Facility and Credit Agreement refinance the Company’s previously existing $700 million revolving credit...
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Elevate Brands, a leader in acquiring and operating Amazon FBA businesses, announced a refinancing and upsizing of their credit facility to $400 million. Led by funds and accounts managed by BlackRock, this brings the company’s funding total to $590M...
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Eastern Bank added Work ‘N Gear as a new asset based lending customer. Founded in 2002 and headquartered in Quincy, MA, Work ‘N Gear is an American retail company that focuses on selling various kinds of work apparel, footwear and healthcare apparel....
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An accessories company had received a large order from a national retailer and needed letters of credit so their suppliers would ship the goods. They had just started working with a new factoring company that recommended partnering with Gateway Trade...
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People's United Bank served as Lead Arranger, Book Runner and Administrative Agent for several credit facilities totaling $89.6 Million to Rocky Hill, CT-based CCO, LLC, and its associated entities. The senior revolving and term loan facilities will...
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February 15, 2022, 07:48 AM
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Pathlight Capital is serving as the Administrative Agent on the recently funded $340 million Senior Secured Term Loan Facility for JCPenney. The Term Loan serves as an amendment and extension of the initial FILO Facility of $300 million that funded...
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December 20, 2021, 07:00 AM
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JCPenney paid off its $506 million take-back term loan on December 1, 2021. The Company used its strong existing liquidity position to reduce its debt and save interest as the business continues its transformation.The take-back term loan was held by...
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December 17, 2021, 07:52 AM
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Gordon Brothers, the global advisory, restructuring and investment firm, has provided SPM Toys Trading GmbH a secured term loan to purchase the intellectual property rights and assets of German retailer Spiele Max GmbH.SPM Toys Trading will use the...
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November 30, 2021, 07:36 AM
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Gordon Brothers and J.P. Morgan have agreed to provide Myer a A$215 million (US$153.6MM), four-year asset-based lending facility to refinance its existing credit facilities, support strategic initiatives and provide day-to-day liquidity.“We are...
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November 29, 2021, 07:58 AM
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The Children’s Place, the largest pure-play children’s specialty apparel retailer in North America, announced the refinancing of its revolving credit facility and term loan by a new lending group led by an affiliate of Wells Fargo. The new debt...
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November 18, 2021, 08:07 AM
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B. Riley released its Retail Industry Monitor entitled “The Ripple Effect.” Among key findings:With the acceleration of retail bankruptcy filings into 2020, many retail store closings projected for 2021 were pulled forward during 2020. This dynamic...
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November 17, 2021, 07:48 AM
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Citizens led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent. “Our Citizens...
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November 16, 2021, 07:50 AM
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GameStop entered into a new $500 million global asset-based revolving credit facility with a syndicate of banks. Wells Fargo Bank acted as Lead Arranger and will serve as Administrative Agent. The new five-year ABL Facility, which was oversubscribed...
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November 05, 2021, 07:55 AM
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QVC announced the refinancing of its senior secured credit facility with a new amended and restated senior secured credit facility on October 27, 2021. The new senior secured credit facility is a multi-currency revolving facility, provides a line of...
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October 29, 2021, 08:00 AM
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RH announced the completion of a $2 billion debt financing by means of a Term Loan Credit Agreement through its subsidiary, Restoration Hardware, Inc. (“RHI”), as the borrower, Bank of America as administrative agent and collateral agent, and the...
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October 26, 2021, 08:00 AM
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Wingspire Capital agented a $200 million senior secured credit facility to Maurices Incorporated, a U.S.-based women’s clothing retail chain with 898 stores in the U.S., Canada and at www.maurices.com. The credit facility consists of a $100 million...
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September 13, 2021, 08:06 AM
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RumbleOn, the nation's largest retailer of powersports vehicles and first omnichannel customer experience in powersports, closed of its previously announced business combination with RideNow, acquiring 100% of the RideNow dealership portfolio...
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September 01, 2021, 07:09 AM
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bebe stores entered into a credit agreement providing for a five-year senior secured term loan of $25 million with an additional drawdown capacity of up to $10 million from SLR Credit Solutions (formerly known as Crystal Financial). Proceeds of the...
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August 27, 2021, 08:08 AM
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Citizens served as Sole Lead Arranger for Brockton, MA-based W.B. Mason’s new $325 million senior secured credit facilities. Founded in 1898, W.B. Mason is one of the largest privately held business-to-business office products dealers in the United...
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August 25, 2021, 08:08 AM
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Rite Aid Corporation (NYSE: RAD) entered into an amendment to its senior secured credit agreement, which, after giving effect to the amendment, consists of a $2.8 billion senior secured asset-based revolving credit facility and a $350 million...
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August 24, 2021, 08:00 AM
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Bed Bath & Beyond amended its asset-based revolving credit facility. The revised and expanded ABL Facility increases the Company's capacity from $850 million to $1.0 billion with improvements to borrowing terms and financial covenants. Among other...
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August 10, 2021, 07:56 AM
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Saks OFF 5TH closed on a syndicated $125 million asset-based five-year revolving credit facility jointly arranged by Citibank and Citizens and a $20 million term loan arranged by Callodine Commercial Finance.Luke Coffey, Chief Financial Officer, Saks...
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August 10, 2021, 07:30 AM
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Solstice Sunglasses, the second-largest sunglass retailer in the United States, announced it has successfully emerged from Chapter 11 with the support of a $6.5 million exit financing facility provided by Second Avenue Capital Partners ("SACP")....
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August 05, 2021, 08:00 AM
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White Oak Commercial Finance is expanding its retail offering with the formation of its new National Retail Finance Group to meet the growing demand for custom funding solutions by retail companies pivoting their business models to meet fast-changing...
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JOANN, the nation’s category leader in sewing and one of the fastest growing competitors in the arts and crafts category, successfully completed the refinancing of its existing covenant-lite first lien term loan facility due October 2023. Bank of...
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Second Avenue Capital Partners closed on a $10,000,000 senior secured credit facility to the leading maternity apparel sister brands Motherhood Maternity and A Pea in the Pod within the Marquee Brands portfolio. The credit facility will be used for...
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CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $30 million credit facility to an online retailer of luxury accessories. The asset-based financing consists of a senior secured revolving credit facility....
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White Oak Commercial Finance provided a $50 million asset-based revolving credit facility to a leading, athletic footwear and apparel retailer based in the U.S.The retailer recently activated a roll-up of several brands led by a private equity firm...
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Hilco Global announced that its Hilco Retail Solutions platform, in a joint venture with Gordon Brothers, has been working with HBC to launch Shopper’s Find, a new retailer that is opening in former Lord & Taylor locations. Shopper’s Find is the...
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SSG Capital Advisors acted as the investment banker to Paper Source, Inc. in the sale of substantially all its assets to an affiliate of Elliott Investment Management L.P.. The transaction closed in May 2021.Paper Source, founded in 1983, is a...
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Saks.com ("Saks") closed on a syndicated $350 million asset-based five-year revolving credit facility arranged by Bank of America, and a $115 million Senior Secured Term Loan arranged by Pathlight Capital.Vince Phelan, Chief Financial Officer of Saks...
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White Oak Commercial Finance provided a $10 million non-recourse factoring facility to an apparel retailer based in New York City. The e-commerce wholesale company provides high-quality, sustainably minded clothing to partners in the U.S. and...
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David's Bridal closed a $70 million term loan provided by CPPIB Credit Investments Inc., a subsidiary of Canada Pension Plan Investment Board ("CPP Investments"). The new term loan matures in 2024 and will be used by the Company to fund operations...
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Dillard’s amended and extended its $800 million senior secured revolving credit facility. A $200 million expansion option remains in place. The new maturity date is April 28, 2026. The credit facility wsa arranged by JPMorgan Chase Bank. The credit...
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Pete Lowney, President, Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announced a recently closed and funded $16 million revolving line of credit facility for a musical instrument retailer in...
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Yesway, one of the largest and fastest growing convenience store chains in the United States, successfully completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively. The...
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Second Avenue Capital Partners closed on a US$10,000,000 senior secured credit facility to Northern Reflections Limited, one of Canada’s largest privately-held apparel retailers of women’s apparel. The credit facility will be used to refinance...
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Neiman Marcus Holding Company announced the completed refinancing of a substantial portion of its exit facilities with an aggregate principal amount of $1.1 billion of new 7.125% senior secured notes due 2026 issued by NMG Holding Company, Inc., a...
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Pathlight Capital is serving as the FILO Agent on the recently funded a $17.5 million first-in, last-out (“FILO”) term loan facility for Destination XL Group, Inc. (“DXL” or the “Company”), the largest omni-channel specialty retailer of big and tall...
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Second Avenue Capital Partners closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital."Cos Bar...
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SG Credit Partners announced it provided a unitranche loan to a Midwest-based specialty retailer of mattresses and accessories. The Company sells through 50+ stores as well as its Company-owned DTC eCommerce channel.The company's CEO was looking to...
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Petco Health and Wellness Company announced that, on March 4, 2021, it completed the successful refinancing of its existing term loan facility with borrowings under a new term loan facility and entered into a new asset based revolving credit facility...
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Tailored Brands announced the closing of a $75 million investment by a group of existing shareholders and lenders. The financing consists of $50 million of mandatorily convertible notes and $25 million in additional senior secured debt. This...
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Second Avenue Capital Partners provided $6.5 million in debtor-in-possession (“DIP”) financing to Solstice Sunglasses, the second-largest sunglass retailer in the United States. The DIP facility delivers supportive capital to Solstice as the retailer...
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Bloomberg reported U.S. mall values plunged an average 60% after appraisals in 2020 citing how pandeimc shutdowns hurt properties with pre-exiting problems. According to the report, about $4 billion in value was erased from 118 retail-anchored...
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Big 5 Sporting Goods Corporation announced that it has entered into a new loan agreement with Bank of America as administrative agent and lender.The Loan Agreement has a five-year term which matures in February 2026 and provides for a secured...
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February 26, 2021, 07:22 AM
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Encina Business Credit provided a $21 million senior secured revolving credit facility to a regional retail pharmacy chain.The senior secured revolving line of credit, which is collateralized by accounts receivable, inventory, and prescription...
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February 03, 2021, 07:45 AM
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Francesca’s Holdings Corporation and Francesca’s Acquisition LLC, an affiliate of TerraMar Capital LLC, announced, after a fulsome auction and sale process under Section 363 of the United States Bankruptcy Code, that it completed the sale of...
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February 02, 2021, 08:35 AM
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Belk has entered into a Restructuring Support Agreement (the "RSA") with its majority owner, Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, and holders of over 75% of its first lien term loan...
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January 28, 2021, 07:30 AM
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Encina Business Credit provided a $35 million senior secured revolving credit facility to a retailer.The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s...
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January 21, 2021, 07:39 AM
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Main Street Capital Corporation completed a new portfolio investment to facilitate the minority recapitalization of Bolder Panther Group, LLC (the "Company" or "Smoker Friendly"), one of the largest retailers of tobacco products in the United States....
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January 11, 2021, 07:48 AM
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Encina Business Credit provided a $30 million senior secured revolving credit facility to an e-commerce retailer.The senior secured revolving line of credit, which is collateralized by accounts receivable, credit card receivables, and inventory, was...
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January 05, 2021, 08:30 AM
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Specialty retailer rue21 (r21 Holdings, Inc.) announced that its strong financial position has enabled it to refinance its existing term loan, increase available liquidity and lower its cost of capital. rue21 amended its asset based credit facility...
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December 18, 2020, 06:00 AM
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Pacific Mercantile Bank has provided an $8.0 million credit facility to Upstrem, Inc. (“Upstrem”), a technological leader in the online reselling of surplus retail footwear and apparel stocks. In addition to the financing, Upstrem utilizes a full...
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December 04, 2020, 07:50 AM
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Canadian mall owners are well-positioned to acquire key retail tenants in their portfolios in the months ahead, said Bradley W. Snyder, a Tiger Group Executive Managing Director, during a retail-focused webinar hosted by Insolvency Insider.Mall...
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November 24, 2020, 07:30 AM
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Pathlight Capital is serving as the Administrative Agent on the recently funded $180 million Senior Secured Credit Facility for Christmas Tree Shops, a brick-and-mortar discount retailer with a focus on seasonal products at a value price point.The...
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November 18, 2020, 08:55 AM
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SB360 Capital Partners, one of the country’s leading asset disposition specialists, announced the start of “Total Inventory Blowout” sales in 85 Justice stores as well as the e-commerce site at www.shopjustice.com. SB360 will be the exclusive...
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November 16, 2020, 08:25 AM
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Hilco Streambank, a leading intellectual property advisory firm specializing in the valuation and sale of intangible assets, announced the sale of the intellectual property assets of Stein Mart and the execution of a stalking horse bid for the assets...
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November 16, 2020, 08:00 AM
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Encina Business Credit announced that it is the Revolving Agent on a $115 million senior secured credit facility used to support the acquisition of a mid-sized discount retailer of home décor. The revolving line of credit, which is collateralized by...
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November 13, 2020, 08:05 AM
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Tilly’s, Inc., a leading destination specialty retailer of casual apparel, footwear and accessories, announced that it has established a new $65.0 million asset-backed credit facility with Wells Fargo Bank, N.A.The ABL Facility is a three-year, $65.0...
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November 11, 2020, 08:59 AM
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SB360 Capital Partners has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its...
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November 05, 2020, 08:00 AM
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Old Time Pottery, a Tennessee-based home décor retailer with stores throughout the Southeast and Midwest, has entered into a Senior Secured Credit Agreement agented by Second Avenue Capital Partners (“SACP”) and CIT Northbridge. Proceeds from the...
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November 04, 2020, 09:05 AM
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Wingspire Capital announced the funding of a $60 million senior secured working capital facility to Franchise Group Inc., the owner and operator of franchised retail stores.Proceeds were used to refinance the borrower’s existing ABL credit facility...
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October 29, 2020, 08:44 AM
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Gordon Brothers has published an article examining the effects election years can have on consumer spending and different retail sectors in the U.S.Authors Rick Edwards, President of Retail, and Liz Sarhaddi-Blue, Managing Director of Retail, provide...
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October 29, 2020, 08:10 AM
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Adapting to ongoing shifts in consumer behavior is key to recovering asset value, advises Michael McGrail in Q&A with ABL Advisor. Retailers’ store-closing and going-out-of-business sales are performing better than expected—especially in categories...
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October 22, 2020, 04:00 PM
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Pathlight Capital announced it is serving as the FILO Agent on the recently funded $125,000,000 FILO Facility for The Neiman Marcus Group (“Neiman Marcus” or the “Company”), one of the largest omni-channel luxury fashion retailers in the world.The...
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October 07, 2020, 09:25 AM
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J.Jill, Inc. announced it has obtained the necessary consents from its term loan lenders to implement the previously announced financial restructuring transaction (“Transaction”) on an out of court basis. The Company received consents from lenders...
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September 14, 2020, 09:05 AM
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Hilco Global has issued a timely report on the current state of retail inventories and how the ongoing, pervasive environment of uncertainty is likely to impact the disposition of merchandise into the off-price market moving ahead.Weighing Retail...
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September 11, 2020, 08:55 AM
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Century 21 Stores, a pioneer of off-price retail, announced plans to commence a wind down of its retail operations and going out of business sales at its 13 stores across New York, New Jersey, Pennsylvania, and Florida after serving customers for...
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September 11, 2020, 08:45 AM
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SSG Capital Advisors, LLC (SSG) acted as the investment banker to TPS Holdings, LLC d/b/a The Paper Store in the sale of substantially all of its assets to TPS Group Holdings, LLC. The sale was effectuated through a Chapter 11 Section 363 process in...
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September 11, 2020, 08:00 AM
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Lenders to bankrupt retailer J.C. Penney have extended a key deadline requiring the company to find a buyer after it was reported that Amazon is eyeing some of the company's properties as possible fulfillment center. The lenders gave the 118 year old...
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August 10, 2020, 09:10 AM
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A joint venture of Hilco Merchant Resources and Gordon Brothers has been chosen to manage the store closing process for Le Tote, Inc. and certain of its subsidiaries including Lord & Taylor, which filed for bankruptcy this week. Closures have already...
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August 04, 2020, 08:00 AM
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Tailored Brands, Inc. and certain of its subsidiaries announced that it has entered into a restructuring support agreement (“RSA”) with more than 75% of its senior lenders. The RSA outlines agreed-upon terms for a pre-arranged financial restructuring...
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August 03, 2020, 09:00 AM
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Ascena Retail Group, Inc., a leading national specialty retailer for women’s and girls’ apparel, and SB360 Capital Partners, one of North America’s leading asset disposition specialists, today announced the commencement of store closing sales in all...
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Joint venture partners Gordon Brothers and Hilco Merchant Resources announced that they have commenced “Going-Out-of-Business” sales at 720 Stage Stores, Inc. locations including Gordmans and all associated brand stores across the United States. The...
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Foot Locker, Inc. and certain of its domestic subsidiaries entered into an amended credit agreement with Wells Fargo Bank, National Association, serving as agent, letter of credit issuer, and swing line lender, which governs the Company’s secured...
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J. C. Penney Company, Inc. announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and...
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Bed Bath & Beyond Inc. announced that its Board of Directors approved the planned closure of approximately 200 mostly Bed Bath & Beyond stores over the next two years as part of the Company's real estate optimization program.In an SEC filing the...
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Retail inventory valuations bounced back quickly in May and June as large numbers of Americans responded to retail re-openings by hunting for bargains at liquidation sales, said executives from Tiger Capital Group in a webinar with analysts from...
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Bed Bath & Beyond Inc. announced it has further strengthened its liquidity position by executing an $850 million three-year secured asset-based revolving credit facility (ABL Facility) with a syndicate of banks. The ABL Facility expires in June 2023...
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Citizens Commercial Banking announced today that it is lead left arranger on a $150 million asset-based revolver for St. Ann, Missouri-based Moran Foods, LLC, which owns and operates Save A Lot, one of the country's largest discount grocery...
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Second Avenue Capital Partners, LLC (“SACP”) and CIT Northbridge Credit (“CIT Northbridge”) announced the closing of a $60,000,000 senior secured credit facility to Stock+Field, a premier farm, home, and outdoor retailer. Stock+Field, formerly known...
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Macy’s, Inc. announced the closing on approximately $4.5 billion of new financing, including its previously announced $1.3 billion of 8.375% senior secured notes, as well as a new $3.15 billion asset-based credit agreement. In addition, the company...
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According to a Reuters report, Macy’s is planning to raise $1.1 billion in a bond offering, backed by a first mortgage on some of its properties, to repay funds borrowed under a revolving credit facility.According to the Reuters report, Macy's drew...
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Scott Bernstein, Co-President of advisory firm SB360 Capital Partners, released the following assessment of the impact of the Coronaviris on the retail sector:As states begin to slowly lift stay at home directives, each consumer will make their own...
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Dillard’s, Inc. announced that it has amended its $800 million senior unsecured revolving credit facility consistent with the Company’s liquidity needs. The amended credit facility is secured by inventory of certain subsidiaries. A $200 million...
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COVID-19 raises the risk that hard-hit retailers will enter landlord negotiations with faulty or incomplete information about their own stores, leases and co-tenants, warns Peter Wilson, a Managing Director at A&G Real Estate Partners, in an Expert...
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Wingspire Capital Holdings announced that it has provided a $40.0 million senior secured loan to Moran Foods, LLC d/b/a Save-A-Lot. Wingspire’s loan was part of a $150.0 million revolving line of credit among a group of three lenders. Loan proceeds...
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Office Depot, Inc., a leading provider of business services and supplies, products and technology solutions, today announced that it has refinanced its existing asset-based credit facility with a new five-year agreement (“credit facility”) and...
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Save A Lot, a U.S. discount grocer, today announced the successful completion of a comprehensive recapitalization of the business and significant deleveraging of the Company’s balance sheet. Under the terms of the agreement, which was supported...
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Hilco Global has issued a series of short- and mid-term strategic recommendations to assist lenders with current portfolio exposure in the retail market to take appropriate and informed action during the near-term fallout of the current COVID-19...
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Christopher & Banks Corporation, a specialty women’s apparel retailer, announced the amendment of its Asset-Based Revolving Credit Facility and that it has entered into a Term Loan Credit Facility with an LLC of Angelo Gordon. The Company also...
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February 28, 2020, 09:10 AM
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In another blow to the retail sector, Kohl's Department Store will lay off up to 250 employees as firm struggles to right itself under rising pressure from online retailers and begins a new sales strategy."This reorganization in our business will...
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February 13, 2020, 09:11 AM
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Macy’s, Inc. announced an updated strategy and three-year plan designed to stabilize profitability and position the company for growth.“We have a clear vision of where Macy’s, Inc. and our brands, Macy’s, Bloomingdale’s and Bluemercury, fit into...
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February 07, 2020, 09:10 AM
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Hilco Global has issued a timely and relevant report on the impact of rapidly evolving retail omnichannel strategies, their connection to 2019’s record-breaking ecommerce holiday sales, and the related valuation implications for lenders with exposure...
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February 05, 2020, 08:00 AM
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CVC Credit Partners announced that it has provided the first lien funding for Vision Growth Partners' expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan...
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February 04, 2020, 08:55 AM
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In order to better align its business with the current operating environment, Pier 1 intends to reduce its store footprint by up to 450 locations. To reflect the revised store footprint, the Company also plans to close certain distribution centers...
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January 08, 2020, 09:10 AM
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Retail sales in November increased 0.1 percent seasonally adjusted over October and were up 2.1 percent unadjusted year-over-year, marking the first half of the holiday season with billions of dollars in shopping left to be done, the National Retail...
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December 23, 2019, 08:50 AM
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Kirkland's, Inc. announced it has amended and extended its $75 million senior secured credit facility with Bank of America, N.A. The $75 million credit facility, with a maturity date of December 2024, replaces the previous facility that was set to...
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December 12, 2019, 08:00 AM
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The rebound in retail sales is weaker than headline figures suggest, according to an analysis by Grant Thornton's Chief Economist Diane Swonk.Swonk notes that Banks have also tightened credit card standards and are approving less new credit, which...
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December 05, 2019, 08:40 AM
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Destination Maternity Corporation, a national retailer for maternity apparel and accessories, filed on November 29, 2019 a motion to approve the selection of Marquee Brands, LLC as the stalking horse bidder in its ongoing marketing and sale process....
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December 05, 2019, 08:19 AM
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Nicole Crafts has decided to exit its retail operations by retaining the retail and real estate divisions of Gordon Brothers to close the A.C. Moore stores, as part of a broader strategic plan. Matthew Pascucci of Mackinac Partners has been...
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November 27, 2019, 09:00 AM
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Crystal Financial LLC announced the closing of a $60,000,000 Senior Credit Facility for True Religion Apparel, Inc. Founded in 2002 and best known for its signature denim, the Company is a retailer and wholesaler of high-quality apparel and...
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November 21, 2019, 08:50 AM
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RPT Realty announced that it has closed on its $660 million amended and restated unsecured credit facility, an increase of $100 million over the Company’s prior unsecured credit facilities. Terms of the new facility can be found in our press release...
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November 11, 2019, 09:00 AM
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JCPenney shared its brand-new store, a completely reimagined format just outside of Dallas in Hurst, Texas, that represents the Company’s strategy to put the customer at the center of its business. The new retail outlet is the brainchild of Chief...
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November 04, 2019, 09:00 AM
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Olympia Sports, the prominent Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC, as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer...
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November 01, 2019, 08:45 AM
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Kitchen Collection is now offering deep discounts at their 160 retail stores after the announcement was made earlier this week to close the retail business by the end of 2019. The Kitchen Collection, LLC is a national specialty retailer of...
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October 25, 2019, 08:00 AM
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Destination Maternity Corporation, the premier national retailer for maternity apparel and accessories, today announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code...
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October 23, 2019, 09:00 AM
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Gordon Brothers and Hilco Global announced that they will be operating liquidation sales beginning today, October 8, 2019 at all Forever 21 stores throughout Canada. This announcement comes after Forever XXI ULC (“Forever 21 Canada”) obtained an...
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October 14, 2019, 08:55 AM
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Mall landlords Brookfield Property Partners LP and Simon Property Group Inc. are reportedly in talks to purchase a stake in distressed teen retailer Forever 21 Inc., echoing a similar play for Aeropostale Inc. in 2016.Citing anonymous sources...
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September 23, 2019, 09:00 AM
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Hilco Streambank is seeking interested parties for an upcoming sale of assets including intellectual property and social media sites for bankrupt women's clothing outlet A'gaci.The Texas-based retailer filed Chapter 11 on August 7 in the United...
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September 06, 2019, 08:40 AM
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Teen retailer Forever 21 is preparing for a potential bankruptcy filing as it works to negotiate with lenders, according to reports from multiple media outlets.According to one report, based on sources who spoke to Bloomberg News, the company has...
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August 29, 2019, 09:00 AM
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Francesca’s Holdings Corporation announced that it has entered into a second lien term loan Credit Agreement with Tiger Finance, LLC, an affiliate of Tiger Capital Group. The Company simultaneously announced the completion of its previously announced...
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August 19, 2019, 08:00 AM
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Avenue Stores, LLC, a women's clothing retailer that keeps up with the latest fashion trends, has made the decision to close all their retail stores. The women's plus size clothing retailer is now offering compelling discounts at 222 closing stores...
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August 15, 2019, 08:50 AM
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In a column for Retail Dive, retailing veterans Peter Lynch and John Graub encourage chains to revisit their portfolio strategies in response to today’s challenges.
Retailers’ timeworn approach to managing their real estate portfolios is badly in...
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August 14, 2019, 08:20 AM
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Wells Fargo Capital Finance, part of Wells Fargo & Company, announced that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. by...
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August 09, 2019, 09:00 AM
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A’GACI, an innovator in the fast fashion apparel industry since 1971, is closing all 54 stores in the U.S. and Puerto Rico. A’GACI filed for Chapter 11 Bankruptcy protection this morning and retained a joint venture of SB360 Capital Partners and...
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August 09, 2019, 08:50 AM
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Barneys New York, the luxury specialty retailer, announced that it has secured $75 million in new capital to facilitate a going concern sale process. In connection with the sale process, Barneys New York has voluntarily filed for reorganization under...
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August 07, 2019, 08:00 AM
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A more positive news story appeared last week amid the seemingly interminable flow of negativity enveloping the retail industry. An S&P Global Market Intelligence analysis found a sharp uptick in U.S. retail IPOs in the first half of 2019 — a twofold...
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August 05, 2019, 08:45 AM
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SITE Centers Corp. (SITC) announced that it has refinanced its revolving credit facility and extended its maturity. The company also amended its unsecured term loan and upsized the agreement to $100 million from $50 million. The maturity on the term...
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Retail industry watchers expressed optimism about an increase in retail sales in June as two retailers filed for bankruptcy during the late June through early July period, according to an analysis by S&P Global Market Intelligence.U.S. retail and...
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SB360 Capital Partners, a leading asset disposition specialist, has renewed their agreement to work as the exclusive consultant to conduct “Store Closing” Sales for Fred’s Inc., and will begin sales in 129 new locations today. Fred’s added the 129...
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Wells Fargo Capital Finance, part of Wells Fargo Commercial Capital, announced the completion of financing for Brooks Brothers, the storied U.S. apparel brand and one of its oldest clothing retailers. The financing will support ongoing global...
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The overwhelming majority of U.S. chief executive officers (85%) in the consumer and retail (C&R) industry are looking to inorganic growth strategies over the next three years to build long-term growth. These CEOs see M&A as an opportunity to...
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In an ongoing effort to rationalize their store footprint, Fred’s Inc., has once again tapped SB360 Capital Partners, one of North America’s leading asset disposition specialists, as the exclusive consultant to conduct “Store Closing” Sales in 49...
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Forever 21, the cash strapped young women's retailer founded in 1984 by Korean businessman Do Won Chang, is turning to restructuring advisors in a last ditch effort to avoid filing for bankruptcy, The Wall Street Journal is reporting.According to...
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Boot Barn Holdings, Inc. announced that it amended both its revolving credit facility and term loan on June 6, 2019.The amendment to its revolving credit facility increased the capacity from $135.0 million to $165.0 million and extended the maturity...
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FTD Companies, Inc. (FTD), a premier floral and gifting company, announced that the Company and substantially all of its domestic subsidiaries have filed voluntary petitions commencing cases under Chapter 11 in the U.S. Bankruptcy Court for the...
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SB360 Capital Partners has again been retained by Fred’s Inc. as the exclusive consultant to conduct “Store Closing” Sales in 104 additional stores. SB360 was initially retained by Fred’s in April to conduct Store Closing Sales in 159 locations....
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King Trade Capital (KTC) announced the completion of a purchase order finance facility for a California based children’s clothing and toy company.King Trade Capital was called by a finance consultant that was helping the Client find the right finance...
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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...
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AVENUE Stores, LLC, an omni-channel retailer of the AVENUE® brand of women’s plus-size fashion apparel, footwear and accessories, announced the successful refinancing of its outstanding capital structure.A new revolving credit facility was provided...
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SB360 Capital Partners, one of North America’s leading asset disposition specialists, has been retained as the exclusive consultant to conduct store closing sales and other clearance events for Memphis- based Fred’s Inc., a discount value retailer...
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Excessive debt continues to be an underappreciated factor in the demise of many retail chains, writes Bradley W. Snyder, a Tiger Capital Group Executive Managing Director, in the weekly newsletter of Mann Publications’ Fashion Mannuscript magazine.In...
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Nine West Holdings, Inc. announced that, together with certain of its affiliates that it has successfully completed its financial and operational restructuring and emerged from Chapter 11 under the majority equity ownership of CVC Credit Partners and...
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Z Gallerie, LLC, a retailer of home décor products, announced that it has filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In conjunction with...
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Boutique denim company Diesel Jeans has filed for Chapter 11 bankruptcy protection, wavering under the strain of some $7.4 million in unsecured trade obligations, according to First Day Motions filed in bankruptcy court in Delaware. From its ...
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Luxury retailer Neiman Marcus Group LTD LLC announced that it has made significant progress in refinancing discussions and has reached an agreement in principle with majority holders of each of the Company’s term loans and unsecured notes on the...
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The U.S. economy remains in good shape so far in 2019 yet it looks to be another challenging year for apparel retailers, some department stores, and specialty merchandise retailers, as the sector works to address online competitors and evolving...
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Charlotte Russe Holdings Corporation together with its subsidiaries announced that it is engaged in discussions with prospective bidders for a going-concern sale of the Company to continue its brick-and-mortar and online platforms. The Company will...
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February 22, 2019, 09:00 AM
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Great American Group, LLC, a leading provider of asset disposition solutions and wholly-owned subsidiary of B. Riley Financial, Inc. announced that in a joint venture with Tiger Capital Group, it is operating the store closing sales at all Payless...
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February 22, 2019, 08:02 AM
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PNC Bank, National Association, has closed a $140 million senior secured credit facility to support Maryland-based Ames Watson’s acquisition of Lids Sports Group (LSG). PNC Bank served as administrative agent.Founded in 1992, Indianapolis-based LSG...
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February 22, 2019, 08:00 AM
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Toys"R"Us® has officially emerged as a new company, with new leadership and a new vision to deliver the magic of its iconic brands around the world.
Effective January 20, 2019, the new company, Tru Kids Inc. doing business as Tru Kids BrandsTM...
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February 12, 2019, 08:01 AM
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Editor's Note: On Friday, February 8, 2019, ABL Advisor inaccurately reported the restructuring facility amount provided by Citizens Bank. The correct amount is $105 million. We apologize for this error.
FULLBEAUTY Brands Holdings Corp. announced...
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February 11, 2019, 07:13 AM
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Things Remembered, Inc., an omnichannel retailer of personalized gifts and merchandise, announced it has executed an agreement to sell most of its business to Enesco, LLC (Enesco®), a global seller of giftware, home décor, and accessories.
To...
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February 07, 2019, 08:05 AM
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Charlotte Russe Holdings Corporation together with its subsidiaries announced that the Company has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on February 3, 2019....
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February 05, 2019, 07:32 AM
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Advisory firm AlixPartners released its annual outlook for the retail sector for 2019. In a statement accompanying the report the company said:
"The consumer has never been more important, or opinionated, than now. Not only are there unending buying...
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January 23, 2019, 08:00 AM
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Sears Holdings Corporation announced that ESL Investments, Inc., the hedge fund run by Sears Chairman Eddie Lampert, was selected as the winning bidder in the Company's auction. Subject to Bankruptcy Court approval, ESL will acquire substantially all...
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January 18, 2019, 08:00 AM
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Less than two months after initiating a strategic review of its businesses, Gymboree Group, Inc., a specialty children's retailer, announced that the company and its U.S. subsidiaries have voluntarily filed for relief under Chapter 11 of the...
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January 18, 2019, 08:00 AM
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Shopko, a operator of general merchandise stores throughout the Central, Western and Pacific Northwest regions of the U.S., announced that it, along with its subsidiaries, has filed voluntary petitions for a court-supervised financial restructuring...
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January 17, 2019, 07:51 AM
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Sears Chairman Eddie Lampert isn't letting the company's 125-year retail legacy go without a fight. According to multiple news reports, Lampert tacked on to his original bid to buy the company through his hedge fund ESL Investments after his original...
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January 10, 2019, 08:00 AM
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Pathlight Capital announced it is serving as the ABL Term Loan Agent on the recently funded $35 million last-out first lien ABL Term Loan facility to Pier 1 Imports, Inc., a specialty retailer of home décor and accessories.
The $35 million term loan...
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January 10, 2019, 07:08 AM
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Clothing retailer FULLBEAUTY Brands Inc. announced that it has entered into a comprehensive Restructuring Support Agreement with key stakeholders, including its equity sponsors, Apax Partners and Charlesbank Capital Partners, holders of 100% of its...
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January 04, 2019, 08:27 AM
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Real estate advisory and brokerage firm A&G Realty Partners will auction 10 department store properties formerly owned by The Bon-Ton Stores, Inc., on Jan. 28 in New York. All bids for the bankruptcy auction, which centers on fee-owned properties in...
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January 04, 2019, 08:05 AM
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With the clock ticking down on a deadline to make a bid to save storied retailer Sears from liquidation, Sears Holdings Chairman Eddie Lampert made an offer on Friday to buy the company out of bankruptcy for $4.4 billion and keep more than 400 retail...
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January 02, 2019, 08:00 AM
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The iconic 125-year old retailer Sears may have less than 24 hour to survive before creditors opt to liquidate the storied firm, which filed for bankruptcy in October, according to published reports. Despite receiving $300 million in debtor in...
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December 28, 2018, 08:53 AM
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Ethan Allen Interiors, Inc. and most of its domestic subsidiaries entered into a Second Amended and Restated Credit Agreement, dated as of December 21, 2018, with JPMorgan Chase Bank, N.A. as Administrative Agent and Syndication Agent and Capital One...
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December 27, 2018, 08:09 AM
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Sears Holdings said it will incur charges of approximately $443 million, including $81 million in markdowns, $9 million in severance costs, $335 million in lease termination costs, $12 million in other charges, and $6 million in depreciation, in the...
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December 26, 2018, 08:16 AM
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Rite Aid Corporation announced that it has entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million “first-in, last out” senior secured term loan facility...
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December 21, 2018, 09:03 AM
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The Wall Street Journal reported that retailer Gymboree Group Inc. is shopping for a bankruptcy loan as it prepares for a second Chapter 11 filing in less than two years, according to people familiar with the situation.According to the WSJ report...
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December 20, 2018, 08:08 AM
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Crystal Financial LLC announced the closing of a $55.0 million Senior Credit Facility for Lacks Valley Stores, Ltd. (“Lacks” or the “Company”) consisting of a $15.0 million revolving line of credit and a $40.0 million term loan. Founded in 1935 in...
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December 19, 2018, 10:00 AM
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ESL Investments Inc., a hedge fund founded by Eddie Lampert, has placed a bid of $4.6 billion to purchase what remains of Sears Holdings Corp. over the objections of other creditors who favor liquidating the troubled retailer.
According to an SEC...
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December 07, 2018, 10:00 AM
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Crocs and its subsidiaries, Crocs Retail, LLC and Jibbitz, LLC, as borrowers, and Western Brands Holding Company, LLC, as guarantor, entered into the Seventeenth Amendment to the Amended and Restated Credit Agreement with the lenders party thereto...
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December 05, 2018, 07:04 AM
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Sears Holdings has reportedly secured court approval to tap an additional $350 million in emergency financing to support the storied but struggling retailer through the holiday shopping season. According to a report from CNBC, a bankruptcy judge...
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November 28, 2018, 08:06 AM
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Second Avenue Capital Partners, LLC, announced the closing of a $20,000,000 asset based credit facility to help fund the purchase and on-going working capital needs of a new entity under the banner of Fallas Stores. This new facility was integral to...
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November 27, 2018, 07:04 AM
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Homebase, one of the UK’s leading home improvement and garden retailers, announced it has secured an asset-based lending facility of up to £95 million with Wells Fargo Capital Finance, part of Wells Fargo & Company.
“We are really pleased to have...
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November 26, 2018, 07:09 AM
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Tops Markets, LLC announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization. Tops expects to complete its restructuring and emerge from Chapter 11 shortly.
On February...
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November 21, 2018, 08:00 AM
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David's Bridal announced that it has taken the expected next step to implement its previously announced restructuring support agreement (RSA), filing for Chapter 11 in United States Bankruptcy Court in the District of Delaware. The court-supervised...
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November 20, 2018, 07:50 AM
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Fifteen percent of consumers plan to spend more money this holiday season versus last year, with one-third of them doing so online. In fact, more consumers, almost one-third (31%), are expected to shop on Cyber Monday in 2018, according to a KPMG...
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November 19, 2018, 07:05 AM
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Great American Capital Partners has joined a group of lenders to add $350 million in new financing for Sears Holdings in an effort to bring the struggling retailer through the holiday season.
According to press reports citing sources close to the...
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November 15, 2018, 09:00 AM
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A bankruptcy judge in Virginia approved a proposal that could salvage the iconic toy retailer Toys “R” Us by giving control of the brand to a group of hedge funds that will earn money primarily through licensing ventures.
As ABLA reported last...
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November 14, 2018, 08:28 AM
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Town Shoes Canada, a trend setting mid-luxury footwear retailer, has retained SB360 Capital Partners LLC, to assist in the closure of all 28 stores operating as Town Shoes and the Town Shoes ecommerce platform. Ohio based DSW Inc., parent company of...
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November 09, 2018, 08:00 AM
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Encina Business Credit, LLC (EBC) announced that it has provided a $10 million senior secured credit facility to an online consumer products retailer. The credit facility consists of a revolver secured by accounts receivable and inventory, the...
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November 06, 2018, 07:04 AM
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Sears Holdings Corporation announced that it has sought court approval of a "stalking horse" asset purchase agreement with Service.com to acquire the Sears Home Improvement business (SHIP) in a sale process under Section 363 of the U.S. Bankruptcy...
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November 05, 2018, 09:04 AM
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Almost half (48%) of consumers in the U.S. now do some or all of their grocery shopping online, while 59 percent are planning to do so in the future, according to KPMG’s 2018 Grocery Retail Consumer Perception Survey.
“As the online grocery business...
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November 02, 2018, 07:18 AM
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A slowdown in August retail sales does not concern economists, as several said that strong consumer confidence, wage growth and an attractive job market will be enough to deliver strong sales through the next several months despite looming tariffs...
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October 23, 2018, 09:08 AM
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Rosenthal & Rosenthal, Inc., an independent factoring, asset based lending and purchase order financing firm in the U.S., and Gordon Brothers, the global advisory, restructuring and investment firm, announced the completion of a joint financing deal...
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October 23, 2018, 08:11 AM
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Sears Holdings Corporation announced that Alan J. Carr, Managing Member and CEO of Drivetrain, LLC, has joined the Board of Directors, raising the specter of a possible bankruptcy filing on the horizon. The news comes as the retailer is reportedly...
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October 11, 2018, 08:00 AM
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Deckers Outdoor Corporation, Deckers Europe Limited, Deckers UK Ltd., Deckers Benelux B.V., Deckers Outdoor Canada ULC and Deckers Outdoor International Limited entered into a Credit Agreement with JPMorgan Chase Bank, N.A. as Administrative Agent...
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September 27, 2018, 09:10 AM
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Destination Maternity Corporation announced that it has signed a commitment letter with Bank of America for a new five year $76 million facility to refinance and replace the Company’s existing $50 million asset based loan and $25 million term loan....
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September 27, 2018, 07:09 AM
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Stein Mart, Inc. announced that it has extended and amended its existing revolving credit agreement with Wells Fargo Bank (Wells Fargo) and its term loan agreement with Gordon Brothers Finance Company (GBF). These agreements are coordinated through...
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September 20, 2018, 07:13 AM
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Christopher & Banks Corporation and its two subsidiaries, Christopher & Banks, Inc. and Christopher & Banks Company entered into a second amendment (the “Second Amendment”) to its existing credit facility ( the “Credit Facility”) with Wells Fargo...
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August 27, 2018, 09:00 AM
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Second Avenue Capital Partners, LLC, announced it has provided a $12,000,000 revolving line of credit to A’GACI, LLC, a young women’s lifestyle brand and fast fashion retailer. Proceeds from the credit facility will be used as exit financing...
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August 21, 2018, 08:01 AM
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SSG Capital Advisors, LLC ("SSG") acted as the investment banker to A'GACI, LLC in the placement of exit financing and restructuring pursuant to a Chapter 11 Plan of Reorganization (the "Plan") in the U.S. Bankruptcy Court for the Western District of...
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August 15, 2018, 08:16 AM
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Gump’s Holdings, LLC and its affiliates Gump’s Corp. and Gump’s By Mail, Inc. announced that they filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of...
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August 09, 2018, 07:07 AM
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National Stores, Inc., a 344 store chain in twenty-two states and Puerto Rico, announced today that it has initiated a court-supervised restructuring with the support of its lenders and suppliers integral to the business. The Company filed voluntary...
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August 07, 2018, 07:48 AM
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Chico's FAS, Inc. announced that it has completed a $200 million senior secured credit facility with Wells Fargo & Company and other lenders to support ongoing business operations."After an in-depth evaluation, we chose Wells Fargo to lead our new...
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August 06, 2018, 07:17 AM
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Brookstone Company, the iconic mall retailer, announced it has begun the process of closing the company’s remaining 101 locations and is seeking a buyer for the firm. The company cited the "continued deterioration of traditional retail mall traffic"...
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August 03, 2018, 08:00 AM
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Ares Commercial Finance announced that it has provided an $11 million senior secured revolving line of credit to Fanzz Gear, Inc. (Fanzz). Headquartered in Salt Lake City, Utah, Fanzz is a leading brick-and-mortar and online retailer of licensed...
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August 03, 2018, 07:04 AM
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News of the looming death of the traditional retail sector may have been greatly exaggerated -- at least for distressed brick-and-mortar stores that managed to make it through a tough first half and into the start of the back-to-school season. This...
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The overwhelming majority of U.S. chief executive officers (83%) in the consumer and retail (C&R) industry say they are very confident about the growth prospects of their companies over the next three years – far more optimistic than their global...
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Sears Holdings Corporation announced that it has entered into an amendment to its existing Second Lien Credit Facility dated as of March 14, 2018, among the Secured Loan Borrowers, the lenders party thereto, UBS AG, Stamford Branch, LLC, as...
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Gordon Brothers, the global advisory, restructuring, and investment firm, announced that it has acquired the Bench brand and all its related intellectual property assets. Launched in Manchester, U.K. in 1989, Bench is one of the first streetwear...
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The Rockport Group announced that, after completing a Court approved marketing process, it intends to complete the previously announced Asset Purchase Agreement with CB Marathon Opco, LLC, an affiliate of Charlesbank Capital Partners, LLC, pending...
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Rent-A-Center, Inc., a leader in the rent-to-own industry, announced that it has entered into a definitive agreement with Vintage Rodeo Parent, LLC, an affiliate of Vintage Capital Management, LLC, pursuant to which Vintage will acquire all of the...
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PNC Bank, National Association, announced the closing of a $315 million senior secured credit facility for JD Sports Fashion Plc’s (JD Sports) acquisition of The Finish Line, Inc. (Finish Line). JD Sports is based in Manchester, England, and is a...
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Golden Gate Capital, a private equity investment firm, announced that it has established a new operating company, PSEB Group. PSEB will be composed of two Golden Gate portfolio companies: Eddie Bauer, LLC, an authentic outdoor brand offering...
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Sears Holdings announced that is it closing 63 stores amid rising debt, a portion of which was used to support its pension fund. The company is closing 15 Kmart stores and 48 Sears stores, it said, identifying the stores in a press release issued on...
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PNC Business Credit, a division of PNC Bank, National Association, announced the closing of a $175 million senior secured revolving credit facility for Aero Opco LLC, the operating company of Aeropostale, a specialty retailer of casual apparel and...
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Encina Business Credit, LLC (EBC) announced that it has provided a $15 million asset-based revolving credit facility to Running Specialty Group LLC (also known as JackRabbit), which is a Denver-based, omni-channel retailer of high-performance...
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Sportsman's Warehouse Holdings, Inc. announced that, on May 23, 2018, it amended its existing credit agreement to increase the borrowing capacity under its existing revolving credit facility by $100 million to $250 million, subject to a borrowing...
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Footwear provider The Rockport Group, LLC announced that it has entered into an asset purchase agreement with CB Marathon Opco, LLC an affiliate of Charlesbank Equity Fund IX, Limited Partnership, pursuant to which Charlesbank will acquire...
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Albertsons Companies, Inc. entered into a second amended and restated debt commitment letter with nearly two dozen lenders to put together nearly $5 billion to support its merger with Rite Aid.According to an 8K filing, Bank of America, N.A., Merrill...
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Forging what one news outlet described as possibly "one of the largest revolving credit facilities of recent times," Walmart Inc. announced it has signed definitive agreements to become the largest shareholder in Flipkart Group. The investment will...
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Hilco Corporate Finance, a mid-market investment bank and affiliate of Hilco Global, announced the successful completion of a $40 million working capital debt facility for Go! Retail Group a/k/a Calendar Holdings LLC and Calendar Club LLC. The...
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With many brick-and-mortar retailers struggling to stay afloat, industry representatives say the time has come for the U.S. Supreme Court to update the court’s landmark 1992 ruling on the issue and require online sellers to collect sales tax the same...
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Dollar Tree, Inc. entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, providing for $2.32 billion in senior credit facilities, consisting of a $1.25 billion revolving credit facility, of which up to $350 million...
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Nine West Holdings, Inc., a leading footwear, accessories, women's apparel, and jeanswear company with a portfolio of brands that includes Nine West, Anne Klein, and Gloria Vanderbilt, today announced that it has filed voluntary petitions for...
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Athletic retailer The Finish Line, Inc. announced that it has entered into a merger agreement providing for JD Sports Fashion Plc to acquire 100% of the issued and outstanding Finish Line shares at a price of $13.50 per share in cash representing an...
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The massive liquidation of retail toy giant Toys 'R' Us begins Thursday, with more than 700 locations in the U.S. and Puerto Rico set to shutter by June, according to the company's plans.
The timetable was disclosed Tuesday at a hearing in U.S....
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The Walking Company Holdings, Inc., has announced that it has obtained critical stakeholder support for a comprehensive recapitalization of the Company. The Company’s controlling shareholders have committed to invest $10 million in new equity into...
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Claire's Stores, Inc. announced that it is pursuing a financial restructuring in order to eliminate a substantial portion of debt from the Company's balance sheet and position Claire's for long-term success pursuant to a chapter 11 reorganization...
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Southeastern Grocers, the parent company of Winn Dixie, Bi-Lo, Fresco y Más and Harveys Supermarket, has filed a court-supervised, prepackaged restructuring agreement to reduce its debt by more than $500 million.
"We have not taken these steps...
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Stein Mart, Inc. announced that it has completed the closing of a Term Loan with Gordon Brothers Finance Company in the amount of $50 million. In connection with entering into the Term Loan, the Company amended its existing Second Amended and...
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Store closing sales will begin at select Toys"R"Us and Babies"R"Us® locations throughout the country – offering shoppers deep discounts on top brand names across all product categories. The closing sales will be operated by a consortium consisting of...
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February 28, 2018, 07:35 AM
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Bankrupt retailer Toys "R" Us is at risk of breaching a covenant of its debtor in possession loan following an unexpectedly slow holiday season, CNBC reports. Citing sources familiar with the matter, CNBC says the retailer still in compliance with...
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February 26, 2018, 08:00 AM
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Sears Hometown and Outlet Stores, Inc. announced that its three operating subsidiaries, Sears Authorized Hometown Stores, LLC, Sears Home Appliance Showrooms, LLC, and Sears Outlet Stores, L.L.C., and the Company, as guarantor, have entered into a...
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February 22, 2018, 07:09 AM
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The Bon-Ton Stores began store closing sales on February 1 at 42 select locations as part of the company’s recently announced store rationalization program and Chapter 11 Bankruptcy filing on February 6, 2018 The in-store sales will take place at Bon...
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February 21, 2018, 07:10 AM
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SSG Capital Advisors, LLC acted as the investment banker to BillNat Corporation in the sale of substantially all of its assets to an affiliate of CVS Health Corporation (CVS). The sale was effectuated through a Chapter 11 Section 363 process in the U...
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February 08, 2018, 07:12 AM
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Citizens Bank announced that Citizens Commercial Banking has arranged $32 million of credit facilities for Bensalem, PA-based thrift retailer 2nd Ave LLC. Citizens acted as lead arranger and sole senior lender for the financing. The new credit...
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January 31, 2018, 07:14 AM
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Sallyport Commercial Finance provided a $5,000,000 combined credit facility that includes an AR line, Purchase Order Financing and an Inventory Advance that will give the business the confidence to expand and grow their product line to a fashion...
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January 22, 2018, 07:07 AM
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The Bon-Ton Stores, Inc. announced that it has entered into forbearance agreements with its ABL Credit Agreement lenders and an ad hoc group of holders of approximately 75% in aggregate principal amount of the Company's 8.0% Second Lien Secured Notes...
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January 17, 2018, 07:44 AM
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SSG Capital Advisors, LLC acted as the investment banker to Peekay Boutiques, Inc. in the sale of substantially all of its assets to an affiliate of Peekay's senior secured lenders. The sale was effectuated through a confirmed Chapter 11 Plan in the...
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December 01, 2017, 07:14 AM
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Moody's Investors Service assigned ratings to four debtor-in-possession ("DIP") credit facilities of affiliated entities of Toys 'R' Us, Inc. Ratings are outlined below:
Toys 'R' Us-Delaware, Inc. (DIP)
$1.85 billion DIP ABL revolving credit...
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November 20, 2017, 07:00 AM
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The largest U.S. banks are keeping their exposure to the beleaguered retail sector in check, according to Fitch Ratings. The retail sector is unlikely to threaten the banks' ratings given their limited exposure, strong core earnings and healthy...
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November 14, 2017, 07:44 AM
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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...
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November 08, 2017, 07:00 AM
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Struggling under a lingering distress in the retail sector, Sears Holdings Corporation announced that it will begin closing more stores in the U.S. sometimes in January. In a press release the company said it plans to close a total of 63 stores, 18...
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November 06, 2017, 08:00 AM
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Book World announced that beginning Thursday 11/2/17, a liquidation sale will begin at each Book World store location which will run until all inventory is sold. The liquidation sale will offer customers deep discounts on books, toys, games, puzzles...
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November 01, 2017, 07:21 AM
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Burlington Stores, Inc., a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, announced the launch of a debt repricing and extension transaction and provided updated guidance for the third quarter ended...
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October 31, 2017, 07:28 AM
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Authentic Brands Group (ABG), owner of a portfolio of iconic and world-renowned brands, including Juicy Couture, Jones New York and Aéropostale, announced that General Atlantic, a global growth equity firm, has made a strategic investment in the...
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October 31, 2017, 07:28 AM
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After less than four months, True Religion Brand Jeans has emerged from Chapter 11 Bankruptcy following negotiations with its key stakeholders, under a Plan of Reorganization approved by the Delaware Bankruptcy court on October 5, 2017.True...
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October 30, 2017, 07:40 AM
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Consumers are heading into the holiday season with robust purchasing intentions, but retailers can expect a diverse mix of spending -- including a continued transition to online shopping and a shift away from traditional product buying, according to...
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October 27, 2017, 07:06 AM
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Tailored Brands, Inc., a retail holding company for various men's apparel stores, including the Men's Wearhouse and Joseph A. Bank brands, announced that it has amended its asset-based revolving credit facility, expanding availability to $550 million...
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October 26, 2017, 07:17 AM
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The Bon-Ton Stores, Inc. announced that it has amended its $880 million ABL Tranche A and Tranche A-1 credit facility, providing the Company with immediate flexibility and substantial additional liquidity under its current credit facility.According...
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October 25, 2017, 07:20 AM
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Toys“R”Us, Inc. announced that the company and certain of its U.S. subsidiaries and its Canadian subsidiary have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia in...
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September 19, 2017, 07:35 AM
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Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced they acted as administrative agent, bookrunner, and syndication agent for several separate asset-based credit facilities totaling $2.2 billion in connection with the...
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September 13, 2017, 08:02 AM
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White Oak Commercial Finance, LLC (WOCF), one of the nation’s leading financiers serving the middle market, announced that it has provided a $20 million dollar factoring facility to a distributor of luxury and branded apparel, accessories, handbags...
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September 13, 2017, 08:00 AM
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Golub Capital recently announced that as Administrative Agent, Sole Bookrunner and Sole Lead Arranger, it provided a $200 million senior credit facility to support the merger of Downtown Locker Room (DTLR), a portfolio company of Bruckmann, Rosser...
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August 18, 2017, 08:00 AM
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Michael Kors Holdings Limited, a global fashion luxury brand, announced that it has reached an agreement to acquire Jimmy Choo, a global luxury footwear and accessories brand. Under the terms of the transaction, Jimmy Choo shareholders will receive...
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Sears Holdings Corporation announced that it has entered into an amendment to its existing Second Lien Credit Facility dated September 1, 2016. The amended credit facility provides an uncommitted line of credit facility under which subsidiaries of...
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The vacancy rate for regional malls was 8.1% in Q2 2017, up from 7.9% in Q1, and up from 7.9% in Q2 2016, according to recent data from Reis. While vacancy rates appear to be climbing, they are down from a cycle peak of 9.4% in Q3 2011.For...
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Placing a bet on the struggling retail sector, New York-based private equity firm Sycamore Partners has reached a definitive agreement to acquire Staples, Inc. for $10.25 per share in cash, or approximately $6.9 billion. Under the terms of the merger...
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Distress in the retail sector is weighing heavily on Eddie Bauer, according to sources who say the storied clothier has engaged Guggenheim Partners LLC and Financo LLC to explore avenues for debt relief. The sources, who spoke to Reuters on condition...
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Baceline Investments, LLC, a private real estate investment and management company with neighborhood shopping center holdings throughout the Central United States, has announced the completion of a recapitalization effort for select, stabilized...
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J. C. Penney Company, Inc. announced that it has completed the refinancing of its $2.35 billion senior secured asset-based revolving credit facility.
The amended and restated facility provides improved pricing terms and extends the maturity from...
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The future of a defining feature of 1980s Americana is under threat thanks to sweeping distress in the retail sector. According to a research note from Credit Suisse, up to a quarter of the nation’s retail malls will close in the next five years as...
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AloStar provided a $20 million commitment to Shiekh Shoes LLC, a limited-edition footwear and apparel retailer in Ontario, California.
Founded in 1991, Shiekh Shoes is the largest independent sneaker retailer on the West Coast. The retailer operates...
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Marsh Supermarkets, LLC, announced that it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware, a step the Company has taken to enable its business operations to continue normally as it seeks a buyer for...
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Apparel outlet Bebe Stores, Inc, announced that it is closing all of its stores by the end of May as it struggles to navigate increasingly turbulent waters for brick and mortar retailers.
In an SEC filing on April 21, Bebe said it also plans to...
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Troubled retailer Sears Holdings Corp. said that mounting losses could restrict the company's access to new capital and threaten its continued existence as a going concern, Reuters reports.
The warning comes in the midst of a massive cost-cutting...
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Siena Lending Group LLC (“Siena”) announced the completion of a three-year $5 million asset-based revolving credit facility for RTA Furniture Distributors, Inc. dba Just Cabinets Furniture & More (“JCF&M”) to refinance its existing senior debt and to...
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Gordon Brothers, the 114-year-old global advisory, restructuring, and investment firm, announced today that it is acquiring the Wet Seal brand, pending final court approval. Launched in 1990, Wet Seal is an iconic consumer brand known for its...
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Gemino Healthcare Finance continues to expand its portfolio and has recently funded an $8 million senior secured credit facility to Park Irmat Drug Corp. and Gideon’s Drugs. Proceeds from the loan will be used to pay off existing debt and for working...
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February 22, 2017, 07:02 AM
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Sears Holdings Corporation announced that it delivered meaningful improvement in operating performance for the fourth quarter of 2016, and outlined important actions to drive profitability. These include steps to enhance the Company's liquidity and...
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February 10, 2017, 08:05 AM
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The joint venture comprised of Boston-based Gordon Brothers and Chicago-based Hilco Global, announced that they have begun the store closure process for the remaining 137 Wet Seal stores and ecommerce website as part of Wet Seal’s bankruptcy...
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February 09, 2017, 06:52 AM
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Ares Commercial Finance announced that it has extended $30 million of credit to Sears Authorized Hometown Stores, LLC.
The credit facility consists of a working capital revolver and is a participation in a larger global commitment of $250...
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February 06, 2017, 08:00 AM
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Citizens Bank announced that Citizens Commercial Banking is providing a $30 million credit facility to NEJ, Inc., a global leader in excess inventory solutions for retailers and specialty stores. Citizens is the sole administrative agent. Beacon...
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January 31, 2017, 08:07 AM
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Citizens Bank announced that Citizens Commercial Banking is providing a $35 million credit facility to Retail Concepts, which operates 33 retail stores and an ecommerce website under the name Sun & Ski. Citizens is the sole lender and administrative...
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January 26, 2017, 07:20 AM
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Wells Fargo Capital Finance UK Limited, part of Wells Fargo & Company, announced that it acted as agent and lead arranger for an asset-based credit facility for Maplin, the UK’s number one specialist technology retailer with 217 stores across the UK....
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January 25, 2017, 07:44 AM
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Trans World Entertainment Corporation announced that on January 17, 2017 the Company entered into an amended five-year revolving secured credit agreement with Wells Fargo Capital Finance, a division of Wells Fargo & Company of up to $75 million. The...
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January 20, 2017, 07:56 AM
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Great American Capital Partners, LLC, a wholly owned subsidiary of B. Riley Financial Inc. (RILY), has entered into an agreement with Eleven James, Inc., -- a provider of luxury timepieces -- to provide a $20 million senior secured term loan to be...
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January 12, 2017, 07:45 AM
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Sears Holdings Corporation announced that certain of its subsidiaries have entered into a $500 million committed secured loan facility maturing in July 2020. $321 million was funded under the Loan Facility today and up to an additional $179 million...
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January 05, 2017, 08:30 AM
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Warburg Pincus, a global private equity firm focused on growth investing, announced that funds affiliated with the firm have agreed to acquire Gabriel Brothers, Inc. ("Gabe's" or the "Company"), an off-price fashion and home retailer. As part of the...
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December 22, 2016, 07:15 AM
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Victory Park Capital (VPC), an investment firm focused on private middle-market debt and equity investments, announced today it has provided a $100 million senior secured credit facility to Cognical, Inc. (d/b/a Zibby), to expand its omnichannel...
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December 16, 2016, 07:23 AM
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According to the 8th annual CIT Retail Outlook, 80% of middle-market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent...
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November 23, 2016, 07:44 AM
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While retail sales are expected to increase this holiday shopping season compared to last year, U.S.-based importers and suppliers who sell goods to retailers are not entirely confident consumers are going to open their wallets, according to a new...
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November 21, 2016, 08:08 AM
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As businesses gear up for the holiday season, they are optimistic about sales and predict growth for the next quarter and into 2017, according to the American Express Holiday Growth Pulse, a survey of 1,502 small and middle market businesses across a...
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November 11, 2016, 07:13 AM
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MidCap Financial has closed a $15 million senior credit facility to support the growth of Natural Markets Food Group ("NMFG" or the "Company"), a leading regional natural and organic grocery retailer. The MidCap credit facility provided NMFG with...
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November 08, 2016, 07:38 AM
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CIT Group Inc. announced that CIT Retail Finance served as sole lead arranger for a $35 million senior secured credit facility to support the equity investment made by private equity sponsor, Goode Partners LLC, in the acquisition of Forman Mills...
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November 01, 2016, 07:14 AM
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Crystal Financial acted as documentation agent for a $150 million second lien term loan and anchored the tranche with a $30.0 million commitment. This facility refinanced upcoming maturing debt and provided incremental liquidity.
Bon-Ton Stores, Inc...
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October 28, 2016, 07:14 AM
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Bloomberg reports Nine West Holdings Inc.’s senior lenders have agreed to lift a loan restriction in order to give the struggling footwear chain breathing room to get through the holiday season, according to people with knowledge of the matter.The...
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October 26, 2016, 08:01 AM
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Citizens Bank announced that Citizens Commercial Banking is providing a $20 million revolving credit facility to Riesbeck’s Food Markets. Citizens is the sole lender. Founded in 1925, Riesbeck’s Food Markets owns and operates 14 grocery stores in...
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October 25, 2016, 07:48 AM
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Monroe Capital announced it acted as sole lead arranger and administrative agent on the funding of a $32.5 million senior credit facility to support the equity investment made by private equity sponsor Goode Partners LLC in the acquisition of Forman...
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October 18, 2016, 07:39 AM
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Secular challenges including the rise of e-commerce and discount retailers, declining mall traffic, and consumer spending shifts toward services and experiences have created a highly competitive retail environment that has placed some retailers at...
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September 29, 2016, 07:17 AM
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Retailers should see an uptick in holiday sales in stores and online this year, according to Deloitte’s annual retail holiday sales forecast.“We anticipate a modest increase in sales growth as economic fundamentals that boost spending improve further...
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September 23, 2016, 07:50 AM
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Bloomberg reported a consortium led by Simon Property Group Inc. and General Growth Properties Inc. won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores.The Bloomberg article...
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September 06, 2016, 07:57 AM
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On Sep. 1, 2016, Sears Holdings Corporation, Sears Roebuck Acceptance Corp. (“SRAC”) and Kmart Corporation (together with SRAC, the “Borrowers”) entered into a Second Lien Credit Agreement (the “Credit Agreement”) with the Lenders (as defined below)...
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September 06, 2016, 07:33 AM
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Bathstore, the Hertfordshire-headquartered bathroom retailer with 170 stores across the UK, has secured an asset-based lending (ABL) facility to support its growth strategy. Terms of the deal were not disclosed.The Royal Bank of Scotland (RBS)...
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September 02, 2016, 07:06 AM
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Wells Fargo Capital Finance announced it acted as sole lead arranger and book runner on a $100 million senior secured credit facility that will be used for the acquisition of Performance Bicycle by Advanced Sports, one of the leading bicycle...
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August 17, 2016, 07:49 AM
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The Bon-Ton Stores, Inc. announced that it has successfully completed the closing of a new $150 million ABL Term Loan that matures in March 2021. According to an 8-K filing with the SEC, Bank of America served as adminstrative agent on the loan. The...
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August 16, 2016, 07:41 AM
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Reuters reports that bankrupt teen retailer Aeropostale filed a motion against its lender, private equity firm Sycamore Partners, in bankruptcy court late on Friday, accusing it of plotting a "loan to own” scheme to push the chain into...
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Billabong International Limited has entered into a new U.S.$100 million asset-based credit facility with Bank of America Merrill Lynch. The Bank of America asset-based lending agreement replaces the GE Capital facility that was entered into in...
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Golub Capital announced that as administrative agent, lead arranger and joint bookrunner, it provided a $280 million GOLD financing to finance Freeman Spogli's acquisition of Batteries Plus Bulbs ("B+B"). GOLD financings are Golub Capital One-Loan...
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On June 27, 2016, Best Buy Co., Inc. entered into a $1.25 billion five-year senior unsecured revolving credit facility agreement with JPMorgan Chase Bank, N.A as administrative agent, and a syndicate of banks. The five-year facility agreement will...
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hhgregg, Inc. (hhgregg or the Company) announced that it has amended its existing revolving credit facility, providing the company with increased financial flexibility. According to an 8-K filing with the SEC, Wells Fargo serves as administrative and...
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QVC, Inc. (“QVC”) announced the refinancing of its senior secured credit facility with a new amended and restated senior secured credit facility. The new senior secured credit facility is a multi-currency facility, provides a line of credit of up to...
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Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a $55 million term loan and asset based revolver to support the continued growth strategy of The Mitchell Gold Co. d/b/a Mitchell Gold + Bob...
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Monroe Capital announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility (including an undrawn revolving credit facility) to support the acquisition of Ashley Stewart, Inc. by its senior management...
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SUPERVALU INC. announced it has successfully completed the amendment of its existing $1.5 billion senior secured term loan agreement. On July 28, 2015, the Company announced that it is exploring a potential separation of its Save-A-Lot segment, and...
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Aéropostale, Inc. took the next steps in its ongoing business transformation by filing voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The Company expects...
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PNC Riverarch Capital announced the recapitalization of Feeders Supply Company, LLC, a leading specialty retailer of pet food and supplies headquartered in Louisville, Kentucky. The transaction also included a significant re-investment by President...
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Sears Holdings announced the company will close 68 Kmart and 10 Sears stores this summer. In February, the company said that it would accelerate the closing of unprofitable stores. Today's announcement follows a comprehensive evaluation of the...
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As part of its ongoing strategic review process, Vestis Retail Group, LLC ("Vestis" or "the Company"), the parent company of Eastern Mountain Sports ("EMS"), Bob's Stores ("Bob's") and Sport Chalet, announced a series of steps that will collectively...
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99 Cents Only Stores LLC announced it has successfully completed an amendment and extension of its asset-based revolving credit facility. Under the amendment, the ABL facility provides commitments of up to $160 million and extends the maturity date...
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Sears Holdings Corporation announced that certain of its subsidiaries (the "Borrowers") have entered into a 15 month $500 million committed secured loan facility (the "Loan Facility") maturing in July 2017. $250 million was funded under the Loan...
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U.S. economic growth has long been dependent upon consumer spending. If the major suppliers (of mostly soft goods such as clothing and accessories) to retail outlets are a bellwether of the economy, then the coming months are looking to provide a...
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Drybar Holdings LLC, a leading blow dry-only concept, announced the placement of $40.9 million in credit facilities to fund continued growth and working capital for its salon and products businesses, as well as to retire existing debt.As...
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Sears Holdings Corporation announced that it has priced its previously announced $750 million Senior Secured Term Loan (the "Term Loan") under the company's existing Third Amended and Restated Credit Agreement, dated as of July 21, 2015. When...
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Citizens Bank announced it has provided a $21.3 million credit facility to Barney’s Convenience Mart, Inc., an 18-site convenience store and retail fuel operator in Northwest Ohio. The funds include a $17.8 million term loan for the acquisition of...
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Mattress Firm Holding Corp., the nation's largest specialty mattress retailer, today announced the completion of its acquisition of all of the outstanding equity interests in HMK Mattress Holdings LLC, the holding company of Sleepy's and related...
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February 08, 2016, 08:00 AM
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SUPERVALU INC.announced it has completed the repricing, amendment and extension of its existing $1.0 billion asset-based revolving credit facility, which is secured by the company’s inventory, credit card and certain other receivables and certain...
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February 05, 2016, 08:02 AM
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Siena Lending Group LLC announces the completion of a three-year $10 million credit facility for Marbles: The Brain Store (“Marbles”) to refinance their existing senior debt and to support their store growth requirements. Marbles is a portfolio...
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January 11, 2016, 08:12 AM
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Now deep into the holiday season, some observers are cautiously optimistic towards the outlook for the retail sector, while others are outright skeptical. At the same time, the private equity community remains interested in retail, believing that the...
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December 15, 2015, 07:49 AM
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FTI Consulting, Inc. recently released its 2015 Holiday Retail Report: Still No Urge To Splurge. While consumer confidence is fairly high, experts from FTI Consulting’s Retail & Consumer Products practice believe many shoppers are not eager to...
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November 30, 2015, 08:03 AM
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Citizens Commercial Banking has provided a $10 million senior secured credit facility to Active Sports Lifestyle USA LLC (d/b/a Active Ride Shop), a Rancho Cucamonga, Calif.-based skateboard product and clothing retailer with 28 locations throughout...
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November 20, 2015, 08:03 AM
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J. C. Penney Company, Inc. announced it has received $500 million of incremental bank commitments to increase the size of the revolving line of credit under its existing Senior Secured Asset-Based Credit Facility (“ABL”) to $2.35 billion from $1.85...
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November 17, 2015, 08:11 AM
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Retailers are feeling confident about their financial situations – projecting growing sales and revenue – but many feel significant investment toward innovation in an omni-channel strategy including website, mobile and social media channels will be...
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November 12, 2015, 08:03 AM
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H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital, has arranged a €35 million ($38.7 million) holding company PIK loan financing for Suitsupply, a leading men’s clothing retailer. Founded in 1999 in Amsterdam, Suitsupply...
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October 27, 2015, 08:02 AM
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United Refining Company (URC), a leading regional refiner and marketer of petroleum products announces the completion of a new bank financing. On October 20, 2015, URC consummated a new five-year credit facility (the "New Facility") of $475 million...
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October 26, 2015, 07:40 AM
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FTI Consulting, Inc., the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today released its U.S. Online Retail Sales Forecast: Middle Aged but Still Looking Good, which projects U.S....
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October 23, 2015, 08:05 AM
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Tandy Leather Factory announced an agreement with Bank of Texas for a $6 million revolving credit facility. This credit facility replaced the company's prior line of credit with JPMorgan Chase Bank, N.A. The new agreement expires in September...
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September 25, 2015, 07:44 AM
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Citizens Bank announced it has provided a $60 million senior secured credit facility for Matteson, Ill.-based Rogers Enterprises, Inc., owner of a jewelry chain with 77 locations. Citizens acted as sole lead arranger of the $60 million asset-based...
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September 24, 2015, 08:04 AM
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Carl Marks Securities LLC acted as investment banker and chief restructuring advisor to denim retailer Joe’s Jeans Inc. on two transactions, the first of which closed on September 11 and involved the sale of the Joe’s® brand and substantially all of...
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September 18, 2015, 07:41 AM
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MB Business Capital announced it recently provided a new $17.5 million senior credit facility to Selbyville, Delaware based E Revolution Ventures, LLC . E Revolution Ventures is a global on-line retailer that sells various consumer goods directly to...
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September 17, 2015, 08:06 AM
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First Niagara Financial Group announced it has closed on a $20 million revolving line of credit with Calypso St. Barth, a designer, retailer and wholesaler of luxury lifestyle apparel, accessories and home goods.The financing package was arranged by...
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September 02, 2015, 07:46 AM
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Citizens Bank announced today that Citizens Commercial Banking has provided a $31.5 million senior secured credit facility for Dover Saddlery, Inc., a leading multichannel retailer of equestrian products in the United States. Dover Saddlery recently...
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August 05, 2015, 08:06 AM
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Bluestem Group Inc. announced the completion of its acquisition of Orchard Brands Corporation, a leading national, multi-brand family of 13 catalog and eCommerce brands serving the boomer and senior demographics, for $410 million in cash, subject to...
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Great American Capital Partners, LLC (GACP) has led a $25 million senior secured first-in last-out (FILO) term loan to General Wireless Operations, Inc., doing business as RadioShack. The term loan is part of a $75 million financing package that...
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Citizens Bank announced Citizens Commercial Banking arranged a $35 million senior secured credit facility for Total Hockey, a specialty hockey and lacrosse retailer in the United States, who has been named to Inc. Magazine’s list of “Fastest Growing...
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Boot Barn Holdings, Inc. announced the completion of its previously announced acquisition of Sheplers, Inc., a 115-year old western lifestyle company with 25 retail locations across the United States and an industry-leading e-commerce business.The...
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Capmark Financial Group Inc. has entered into a definitive agreement to acquire Orchard Brands Corporation for $410 million in cash, subject to various pre- and post-closing adjustments. The transaction will broaden and diversify the customer base...
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Boston-based Karmaloop, Inc., a 15-year-old online retailer specializing in streetwear, action sports and music-inspired clothing,announced that Comvest Partners and CapX Partners, are acquiring all of Karmaloop's businesses, including Karmaloop.com...
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CIT Group Inc. announced that CIT Corporate Finance served as administrative agent on a $40 million senior secured asset-based revolving credit facility for TowerBrook Capital Partners L.P., a private equity firm. The financing was used to facilitate...
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Dillard’s, Inc. announced that it has issued a new $1 billion senior unsecured revolving credit facility, taking advantage of favorable market conditions and enhancing the company’s liquidity. This credit facility replaces a secured credit facility...
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Monroe Capital LLC today announced an increase in the credit facility to Luxury Optical Holdings (“LOH”) to support continued growth of the business. LOH is a portfolio company of aPriori Capital Partners and Goode Partners.Based in Las Vegas, Nevada...
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Hancock Fabrics, Inc. announced the refinancing of the company’s existing senior debt under a new credit agreement with Wells Fargo Capital Finance and Great American Capital Partners. This will provide additional availability over the current senior...
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Sprouts Farmers Market announced that it has completed a new five-year, $450 million revolving credit facility to replace its existing term loan and revolving credit facility. The Company will utilize the initial drawing of $260 million under the new...
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PNC Bank announced a syndication of $210 million in senior secured revolving credit for grocery retailer Haggen, Inc., a portfolio company of Comvest Partners. PNC Capital Markets LLC syndicated the transaction as sole lead arranger and bookrunner...
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MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new senior credit facility to Bloomfield Hills, Michigan-based Summit Sports, LLC. Summit Sports is an action sports retailer that owns and operates a...
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Ares Management and GE Capital announced that the European Loan Programme (ELP), a €3.0 billion joint venture between affiliates of the two global institutions that provides senior secured loans to upper middle market corporate borrowers has...
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Versa Capital Management, LLC (“Versa”) announced today that one of its affiliates was declared the winning bidder in the auction for the business of The Wet Seal, Inc. (“Wet Seal”), a specialty retailer in reorganization proceedings. “We believe our...
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Salus Capital Partners, LLC, has increased its senior secured credit facility for Mitchell Gold + Bob Williams up to $40 million as of December 2014. The company will use the financing for working and growth capital for its ongoing retail store...
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February 20, 2015, 07:33 AM
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As the economic recovery gains speed, the consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. These insights and more are shared by three CIT...
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February 19, 2015, 08:04 AM
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BBVA Compass announced its asset-based lending group provided a $25.4 million credit facility to Higginbotham Brothers & Co. of Comanche, Texas. Higginbotham operates 37 True Value and Ace Hardware stores in TexasBBVA Compass is a Sunbelt-based...
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February 13, 2015, 07:54 AM
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Marquette Business Credit announced it recently funded a $5 million revolving line of credit and inventory term loan to Patrick James, Inc. Patrick James, Inc. is a well-established, high-end men’s apparel retailer with fifteen retail locations...
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February 13, 2015, 07:13 AM
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Stein Mart, Inc. announced that it has entered into a second amended and restated credit agreement with Wells Fargo Bank that will mature in February 2020 and a master loan agreement with Wells Fargo Equipment Finance, Inc. The Credit Facilities...
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February 05, 2015, 07:24 AM
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NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $6 million revolving credit facility to RTA Furniture Distributors, Inc., a leading value-priced retailer of furniture and cabinetry....
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January 22, 2015, 07:36 AM
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Rite Aid Corporation announced the completion of an amendment and extension of its existing senior secured credit facility, including an increased borrowing capacity of up to $3.0 billion, or up to $3.7 billion when the company repays its 8.00%...
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January 14, 2015, 07:53 AM
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A Reuters article notes Salus Capital Partners has offered to provide $500 million to RadioShack Corp in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy. The article is based on a recent Wall Street Journal...
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January 13, 2015, 07:14 AM
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Body Central Corp., the struggling women’s clothing retailer, said lender Crystal Financial LLC has terminated its $17 million credit line, dealing another blow to a company that’s already exploring bankruptcy according to a Bloomberg news story. The...
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January 12, 2015, 07:38 AM
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TD Bank announced that its Asset Based Lending (ABL) Group was recently selected by Brooks Brothers as Joint Lead Arranger in a $250 million credit facility. The amount of TD’s commitment and terms of the financing were not disclosed. Founded in 1818...
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January 06, 2015, 07:34 AM
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Business Capital has structured and secured a multi-million dollar credit facility for Mike’s Bikes, the largest independent bicycle retailer on the West Coast, based in Marin County California, the birthplace of mountain biking. The Company sells...
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January 05, 2015, 07:46 AM
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TravelCenters of America announced that it has amended its existing $200 million revolving credit facility. Prior to the amendment, TA’s credit facility had a maturity date of October 25, 2016 and interest paid on drawings was LIBOR plus 225 basis...
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December 24, 2014, 07:22 AM
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Crystal Financial LLC, an independent commercial finance company, announced the closing of a $33.0 million Second Lien Term Loan for Birks Group. Founded in 1879, Birks is a leading retailer of fine jewelry, timepieces and gifts with 28 stores...
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December 17, 2014, 07:53 AM
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Salus Capital Partners, LLC announced it has provided a $20 million debtor-in-possession (DIP) facility to dELiA*s, Inc. dELiA*s, Inc. is an omni-channel retail company primarily marketing to teenage girls. The financing will be used by the company...
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December 10, 2014, 07:48 AM
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Sportsman's Warehouse Holdings, Inc. completed the refinancing of its existing $235 million senior secured term loans at a lower interest rate and has increased the borrowing capacity under the terms of its revolving credit facility. Sportsman's...
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December 05, 2014, 07:51 AM
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Bloomberg reported , RadioShack lender Salus Capital Partners claimed the retailer defaulted on a borrowing agreement by accepting an October bailout from shareholder Standard General LP. The article cites a regulatory filing.Salus, which holds part...
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December 03, 2014, 07:51 AM
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Black Friday is an inarguably important day to retailers, kicking off the holiday shopping season and an inevitability high selling period that most retailers depend on. But as many retailers experienced in 2013, the promotional pressure on brick-and...
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December 03, 2014, 07:19 AM
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Restoration Hardware Holdings, Inc. announced the amendment and expansion of the company’s existing senior secured revolving credit facility to $600 million with a maturity in November 2019. This facility replaces the company’s $417.5 million...
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December 02, 2014, 08:09 AM
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An annual retail outlook study (www.cit.com/retailoutlook) of more than 250 senior middle-market retail executives conducted by CIT Group Inc. found cautious optimism among respondents. Fifty-five percent of executives anticipate their total holiday...
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November 21, 2014, 07:30 AM
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Citizens Commercial Banking’s Convenience and Retail Fuel Finance Group has closed a $40 million, seven-year credit facility with ASAP Energy Inc., a leading convenience store operator located in Weatherford, Okla. ASAP Energy operates 18 locations...
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November 13, 2014, 07:56 AM
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Capmark Financial Group Inc. announced that it has closed its previously announced acquisition of Bluestem Brands, Inc., a multi-brand, online retailer of name-brand and private label general merchandise serving low-to-middle income consumers...
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November 10, 2014, 07:14 AM
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Salus Capital Partners, LLC, announced it has provided an $82 million senior secured credit facility to Comark Inc. The financing will be used to refinance Comark’s existing lenders and to provide the company with working and growth capital.Founded...
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November 06, 2014, 07:51 AM
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Destination XL Group, the largest multi-channel specialty retailer of big & tall men's apparel, has increased its existing asset-based revolving line of credit with Bank of America, N.A. by $25 million to $125 million. In addition, the company...
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November 03, 2014, 07:23 AM
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A major RadioShack Corp. lender is attempting to buy a bigger part of the electronic retailer's debt in exchange for backing the company's store-closing plan, Bloomberg reported, citing people familiar with the matter.Salus Capital Partners LLC is...
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October 31, 2014, 07:36 AM
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Versa Capital Management announced its portfolio company AVENUE Stores has finalized a new capital structure to support AVENUE’s continued growth and provide additional interim returns to its equity holders. AVENUE is a specialty retailer with more...
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October 30, 2014, 07:11 AM
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Mattress Firm Holding Corp. (the Company) announced the completion of its acquisition of all of the outstanding equity interests in The Sleep Train, Inc. for an aggregate purchase price of $425 million, subject to working capital and other customary...
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October 21, 2014, 07:53 AM
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Marquette recently funded a $5 million working capital line of credit to Luke's Locker. The facility will provide future working capital requirements for the borrower as it continues to expand throughout Texas. This transaction was originated by...
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October 16, 2014, 07:42 AM
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CIT Group Inc. provided financing to Wakefern Food Corp., the largest supermarket cooperative in the United States. Wakefern is the principal supplier of food and non-food products to member-owned supermarkets that trade under the ShopRite and...
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October 09, 2014, 07:27 AM
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Stage Stores, Inc. entered into an amended and restated $350 million senior secured revolving credit facility (the “Credit Facility”) that will mature on October 06, 2019. The Credit Facility replaces the Company’s former $250 million senior secured...
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October 07, 2014, 07:53 AM
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A Reuters news story reports cash-strapped electronics retailer RadioShack Corp has reached an agreement with a consortium led by its largest shareholder Standard General LP to refinance about $590 million of loans to re-stock ahead of the holiday...
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October 03, 2014, 07:29 AM
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Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a $24.5 million senior credit facility to support the acquisition of a consumer products retail company by private equity sponsor, SPK Capital...
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October 02, 2014, 07:56 AM
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SUPERVALU INC. announced it has successfully completed the amendment and extension of its existing $1.0 billion asset-based revolving credit facility (the “Revolving ABL Facility”), which is secured by the company’s inventory, credit card, wholesale...
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October 01, 2014, 06:41 AM
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Citizens Commercial Banking’s Convenience and Retail Fuel Finance Group recently closed on a large five-year credit facility with Buchanan Energy LLC, a leading convenience store operator in the Chicago area. Buchanan Energy supplies 83 Exxon/Mobil...
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September 30, 2014, 07:32 AM
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Capmark Financial Group Inc. announced that it has entered into a series of agreements pursuant to which it will acquire Bluestem Brands, Inc. (“Bluestem”), a multi-brand, online retailer of name-brand and private label general merchandise serving...
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September 29, 2014, 08:01 AM
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Cache, Inc., a U.S. based multi-channel specialty retailer of women's apparel and accessories, announced that it has entered into a new, three year, $30 million revolving credit facility with Salus Capital Partners, LLC. The new facility replaces the...
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September 24, 2014, 07:58 AM
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The Great Atlantic & Pacific Tea Company, Inc. (A&P) announced that it completed the refinancing of its existing senior debt on terms favorable to the Company. A&P successfully partnered with Wells Fargo Capital Finance to arrange the new $300...
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September 22, 2014, 08:06 AM
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Working with a major national asset-based lender, Crystal Financial provided a $25 million term loan to C&K Market. The term loan is secured by a first lien on all assets, except a second lien on A/R and Inventory, which are first lien collateral for...
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September 17, 2014, 07:14 AM
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Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on a $47 million unitranche financing to support the acquisition of Robert Marc Eyewear by Luxury Optical Holdings (“LOH”). The acquisition is supported by private...
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September 16, 2014, 07:44 AM
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Golub Capital announced that as sole bookrunner and administrative agent it provided a $165MM GOLD financing to support the acquisition of Marshall Retail Group ("MRG" or the "Company") by Brentwood Associates ("Brentwood"). Golub Capital has...
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August 27, 2014, 08:02 AM
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Wells Fargo Capital Finance acted as joint lead arranger on a $180 million senior secured credit facility for Vestis Retail Group to acquire Sport Chalet, Inc., a specialty sports retailer with 50 stores in the Western United States. Vestis Retail...
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August 21, 2014, 08:09 AM
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Sports Chalet is a premier, full-service specialty sporting goods retailer offering a broad assortment of brand name sporting goods, equipment, apparel, and footwear. The California-based retailer operates 50 stores located in California, Arizona...
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August 01, 2014, 07:31 AM
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Salus Capital Partners, LLC and Downtown Capital Partners, LLC announced they have agreed to provide $80 million in financing via a senior secured credit facility to specialty retailer Anna’s Linens, Inc. The facility is expected to be used to...
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CapX Partners announced the closing of a $13 million senior loan facility to support the growth needs of Karmaloop, a multi-platform online retailer, community of style and media company specializing in global streetwear fashion and culture for men...
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GE Capital, Corporate Retail Finance is providing Brookstone, the product development company and specialty retailer, with a $115 million senior credit facility. The financing will be used to support the company’s recent acquisition by Sailing...
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Abercrombie & Fitch Co. announced that it has initiated a process to refinance its existing credit facilities. The existing credit facilities consist of a $350 million unsecured revolving credit facility maturing July 27, 2016 and a $150 million...
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In the face of an economy on a slow rebound and shifts in consumer behaviors, the winners among retailers since the Great Recession are those that are adapting their business models and keeping their brands relevant and their value proposition...
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GE Capital, Commercial Distribution Finance (CDF) announced it has extended its inventory financing program with Bass Pro Shops through 2018. Bass Pro Shops, which owns boat manufacturer Tracker Marine Group, will use CDF funding to stock Tracker...
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Monroe Capital LLC announced the funding of a $20.5 million senior secured credit facility for a specialty retailer to finance the company’s Employee Stock Ownership Plan (“ESOP”) and provide ownership to long-time employees.Monroe’s dedicated ESOP...
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J. C. Penney Company, Inc. announced it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan. The new facility replaces a $1.850 billion...
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ALCO Stores, Inc. announced that Wells Fargo Capital Finance acted as administrative agent on a $125 million senior secured revolver, $5 million real estate term loan and $12.5 million term loan, which ALCO Stores will use for working capital and...
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On May 14, 2014, J. C. Penney Corporation, Inc., a wholly-owned subsidiary of J. C. Penney Company, Inc. entered into a commitment letter, with Wells Fargo Securities, LLC, Wells Fargo Bank, National Association, Bank of America, N.A., Merrill Lynch...
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HVB Capital Credit LLC, a wholly owned subsidiary of Hudson Valley Bank, announced it has closed on a $5 million asset-based loan to Joyce Leslie Inc., based in Moonachie, NJ. The company intends to use this new credit facility to support working...
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Pier 1 Imports, Inc. announced that its wholly owned subsidiary, Pier 1 Imports (U.S.), Inc., has completed the amendment of its $350 million senior secured revolving credit facility and successfully syndicated and closed the previously announced...
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E Revolution Ventures, a data-driven e-commerce and brick and mortar retailer, has secured a $10 million line of credit through Richmond-based lender Virginia Commercial Finance (“VCF”). E Revolution Ventures spoke with over a dozen lenders as it...
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Salus Capital Partners, LLC, specialists in financing growing consumer brands, announced it has provided a $17.5 million senior secured credit facility to Calypso St. Barth, Inc. The financing will be used to refinance its current lender, general...
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SUPERVALU INC. announced it has successfully completed the repricing, amendment and extension of its existing $1.0 billion asset-based revolving credit facility, which is secured by the company's inventory, credit card and certain other receivables...
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GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced that it has participated in providing Shopko Stores Operating Co., LLC with a $12.5 million increase to the company’s existing term loan. The financing...
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Sears Holdings Corporation announced that its pro-rata spin-off of Lands’ End, Inc. (“Lands’ End”) from Sears Holdings closed on April 4, 2014. Lands’ End has now been separated from Sears Holdings and its common stock is expected to begin...
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Wells Fargo Capital Finance announced it acted as left lead arranger and bookrunner on a $325 million secured credit facility that will be used for working capital and general corporate purposes for Guitar Center, Inc., America’s leading specialty...
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Conn's, Inc., a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit, today announced that it completed an expansion of its existing asset-based syndicated loan facility that matures...
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On Mar.21, 2014, Toys“R”Us – Delaware, Inc., a direct wholly-owned subsidiary, and certain of its subsidiaries amended and restated the credit agreement for its senior secured revolving credit facility (“ABL Facility”) in order to extend the maturity...
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The following is excerpted from J.Crew Group's Fourth Quarter and Fiscal 2013 Results released on Mar. 24.
On March 5, 2014, the Company, Bank of America, N.A., as administrative agent and as collateral agent, and each lender party thereto entered...
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Sears Holdings Corporation announced that its board of directors approved the separation of its Lands' End business by means of a pro-rata spin-off transaction.
To effect the spin-off, Sears Holdings will distribute all of the outstanding shares of...
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Aeropostale, Inc., a mall-based specialty retailer of casual apparel for young women and men, has signed a commitment letter with Sycamore Partners and its affiliates for a strategic partnership and $150 million in senior secured credit facilities....
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RadioShack's weak operating results are expected to further constrain its liquidity in 2014, leaving the company with a limited window of opportunity to turn around its business, according to Fitch Ratings.
On March 4, 2014, the company reported a...
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Long's Drugs Incorporated ("Long's"), headquartered in Columbia, SC, is a retail and specialty pharmacy serving the SC, NC and GA markets. Founded in 1951 as a family-oriented business, Long's has maintained its tradition of providing excellent...
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AloStar Business Credit has provided a $20 million senior secured revolver to Diamonds Direct USA, Inc., an operator of five retail diamond stores in the United States. The stores operate in Charlotte and Raleigh, NC; Richmond, VA; Austin, TX; and...
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February 05, 2014, 07:34 AM
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Wells Fargo Capital Finance acted as sole lead arranger and book runner on a $55 million senior secured revolving credit facility that will be used for working capital and general corporate purposes for Evergreen Enterprises of Virginia, LLC, which...
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January 17, 2014, 07:36 AM
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GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced is has provided a $15 million term loan behind the senior credit facility to Diamonds Direct. Diamonds Direct is a direct importer and retailer of diamonds...
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January 14, 2014, 07:21 AM
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Monroe Capital LLC today announced the funding of a $27 million senior secured term loan in conjunction with a $40 million revolving line of credit provided by Bank of America Merrill Lynch to support the growth of Alliance Time and Ashford.com....
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January 09, 2014, 07:25 AM
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GB Credit Partners, LLC, the investment management affiliate of Gordon Brothers Group, announced today that is has provided a $10 million term loan behind the senior credit facility to Samuels Jewelers, Inc. (“Samuels”), a national retailer of fine...
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January 07, 2014, 07:41 AM
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GE Capital, Corporate Retail Finance announced it is administrative agent on a $250 million senior revolving credit facility for Dunham’s Athleisure Corporation, a leading sporting goods retailer. The proceeds will support ongoing working capital...
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December 17, 2013, 07:42 AM
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TD Bank announced that its Asset Based Lending (ABL) Group was recently selected by Long’s Jewelers Ltd to be its preferred lender as it plans to grow and expand its current footprint. Long’s, a 135-year-old, family-owned and operated jeweler serving...
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December 13, 2013, 07:26 AM
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BMO Harris Bank’s Sponsor Finance group, a leading provider of middle market leveraged finance solutions, announced it was Administrative Agent, Joint Lead Arranger, and Joint Bookrunner for $85 million in senior credit facilities to QoL meds, LLC, a...
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December 13, 2013, 07:22 AM
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RadioShack Corporation has completed a new financing totaling $835 million including a $585 million senior secured ABL credit facility led by GE Capital, Corporate Retail Finance and a $250 million secured term loan led by Salus Capital Partners, LLC...
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December 11, 2013, 07:30 AM
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ORIX Leveraged Finance announced the closing of a unitranche debt facility for Luxury Optical Holdings. Proceeds were used to consummate several acquisitions and provide liquidity for the company’s future growth. ORIX Leveraged Finance served as lead...
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December 11, 2013, 07:24 AM
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Siena Lending Group LLC announces the completion of a three-year $10 million senior secured revolving credit facility for Temp-Tations, LLC. Proceeds from Siena’s facility will be used to allow the company to pay down higher priced subordinated...
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December 03, 2013, 07:13 AM
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Conn's, Inc., a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit, announced that it completed an expansion and extension of its asset-based loan facility with a syndicate of...
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November 26, 2013, 07:51 AM
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Salus Capital Partners, LLC, announced it has provided a $4 million senior secured term loan to Naartjie Custom Kids, Inc. The financing will be used as ongoing working capital for general business needs of Naartjie’s US and Canadian...
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November 21, 2013, 07:13 AM
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Monroe Capital LLC today announced the funding of a $27.5 million senior secured credit facility to support the acquisition of Gem Shopping Network, Inc., by an affiliate of Sun Capital Partners, Inc.Based in Duluth, Georgia, Gem Shopping Network...
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November 06, 2013, 07:56 AM
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Salus Capital Partners, LLC, announced it has provided a $42.5 million senior secured credit facility to HiTouch Business Services, LLC. The financing will be used for general corporate purposes.
HiTouch, based in Saddle Brook, NJ, is a full-service...
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October 30, 2013, 07:34 AM
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Bloomberg reported that Fort Worth-based RadioShack, which is retooling its stores to try to reverse a sales slide, received commitments for $835 million in new financing. Bloomberg obtained this information from sources with knowledge of the matter....
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October 22, 2013, 07:42 AM
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GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working...
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October 08, 2013, 07:38 AM
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Siena Lending Group announced the completion of a two-year $5 million senior secured revolving credit facility for Smooth Fitness on Sep. 23, 2013. The facility will be used to support the company’s working capital and growth plans. In addition, the...
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October 08, 2013, 07:14 AM
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According to Bloomberg News and the Fort Worth Star-Telegram, RadioShack plans to raise money by the end of 2013 to persuade suppliers to support its turnaround effort which sites information obtained from people familiar with the matter.The consumer...
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October 07, 2013, 07:44 AM
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Wells Fargo Capital Finance announced it acted as sole lead arranger and book runner on a $100 million senior secured credit facility that will be used for working capital and general corporate purposes for Harry & David, one of America’s leading...
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October 04, 2013, 09:13 AM
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Sears Holdings Corporation announced that its wholly owned subsidiaries Sears Roebuck Acceptance Corp. and Kmart Corporation have borrowed $1.0 billion under a new a senior secured term loan facility (the "Incremental Term Loan") under the Company's...
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October 03, 2013, 07:56 AM
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Australian surfwear retailer Billabong International Ltd. entered into binding agreements with certain entities affiliated with Centerbridge Partners, L.P. and Oaktree Capital Management, L.P. in relation to a long term financing.Billabong said the...
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September 19, 2013, 07:54 AM
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Dramatic shifts in the retail grocery business continue to create opportunities for asset-based lenders and private-equity investors alike. But as a Tiger Group expert noted in a Sept. 12 panel discussion with colleagues from Nixon Peabody LLP and...
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September 19, 2013, 07:26 AM
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Sears Holdings Corporation announced that it has provided notice to the administrative agent under the Company's existing Second Amended and Restated Credit Agreement, dated as of April 8, 2011 (the "Existing Credit Agreement"), that the Company...
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September 16, 2013, 10:00 AM
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Dots, the fashion specialty apparel retailer, announced today that it has closed on a new four-year $51.0 million senior secured credit facility and term loan from Salus Capital Partners, LLC. The company expects that the funds secured through this...
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September 16, 2013, 07:33 AM
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Salus Capital Partners, LLC announced it has provided a $21 million senior secured credit facility to Love Culture, Inc. Love Culture is a lifestyle brand and shopping destination for edgy, fashion-forward young women. The financing will be used to...
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September 05, 2013, 07:44 AM
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Sport Chalet, a specialty sporting goods retailer, has amended its existing credit facility with Bank of America Merrill Lynch, increasing the facility to $75 million and extending its term. The amendment to the credit facility was entered into on...
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August 15, 2013, 07:03 AM
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In its second quarter earnings release, Brookstone announced that it has entered into an amended banking facility with Wells Fargo Capital Finance, part of Wells Fargo & Company, which will provide up to $25 million of additional availability as the...
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August 14, 2013, 07:29 AM
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Retailer RadioShack is looking to refinance its debt by securing new, lower-cost loans, a process it would like to complete by the end of the year, according to two sources familiar with the matter.
A Reuters article notes the struggling electronics...
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August 14, 2013, 07:16 AM
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Cache, Inc., a specialty chain of women’s apparel stores, secured a new, five year, $25 million credit facility through Wells Fargo Capital Finance.Jay Margolis, chairman and chief executive officer, commented: “We are pleased to partner with Wells...
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Bloomberg reports Hudson’s Bay Co. has obtained about $2.8 billion of debt financing commitments to back its purchase of luxury retailer Saks Inc.Bank of America and Royal Bank of Canada are providing $1.9 billion of term loans and a $900 million...
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Hart Stores Inc. annouced it has entered into a new revolving credit facility with PNC Bank Canada Branch providing for a maximum financing of $30 million. This new asset-based revolving credit facility will replace the company's existing banking...
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United Online, Inc., a provider of consumer products and services over the Internet, announced that its wholly-owned subsidiary, FTD Companies, Inc. (FTD), has entered into a new credit agreement with various lenders, Bank of America Merrill Lynch...
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American Apparel, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced a $15 million increase in its revolving credit facility with Capital One Leverage Finance Corp. As a part of this...
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Dillard’s, Inc. amended and extended its $1 billion senior secured revolving credit facility, taking advantage of favorable market conditions. The facility pricing was improved and the maturity has been extended an additional year to July 1, 2018.The...
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Bank of America Business Capital has completed a senior secured revolving credit facility for longtime client E.C. Barton & Company to refinance the company’s existing debt and provide ongoing working capital financing.
“E.C. Barton & Company is...
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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...
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Siena Lending Group announced the completion of a $7 million senior secured revolving credit facility for Lovesac, an omni-channel retailer of revolutionary furniture products and accessories. The facility will be used to support the company’s...
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Hudson's Bay Company (HBC) announced that Lord & Taylor Holdings LLC, a wholly-owned subsidiary of HBC, has fully repaid the U.S $205 million outstanding on its U.S. $450 million syndicated term loan with Credit Suisse Securities LLC and certain...
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Wells Fargo Capital Finance acted as administrative agent, sole arranger and bookrunner and term loan agent on a $100 million senior secured revolver and a $10 million senior secured term loan that will be used for working capital and general...
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The Wall Street Journal reported that J. C. Penney Company, Inc. announced that it has entered into a commitment letter with Goldman Sachs Bank USA under which Goldman Sachs has committed to provide the Company with a five-year $1.75 billion senior...
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CFO.com reports that amid plunging sales and negative free cash flow, J.C. Penney taps its line of credit to finance inventory and operating expenses.
Retailing giant J.C. Penney company announced on Apr.15, it had tapped a portion of its $1.85...
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The Men's Wearhouse closed on its amended and restated credit facility. The credit agreement provides the company with a $300 million senior revolving credit facility, with possible future increases to $450 million under an expansion feature. In...
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1-800-FLOWERS.COM, Inc., a leading florist and gift shop has entered into a new, amended and restated credit agreement with a syndicate of banks and other financial institutions led by JPMorgan Chase Bank, N.A. The new credit facility is comprised...
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American Apparel, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, has successfully closed a private offering of $206 million principal amount of its 13% senior secured notes due 2020 and has entered...
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Wells Fargo Capital Finance Corporation Canada has acted as administrative agent and sole lender to a $60 million senior secured credit facility for SAIL Outdoors, Inc. which will use the financing for working capital and general corporate...
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Wells Fargo Capital Finance acted as administrative agent and left lead arranger on an amended and extended $600 million senior secured credit facility that will be used for working capital and general corporate purposes for Saks...
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Salus Capital Partners announced it has provided a $16 million debtor-in-possession (DIP) facility to Namco, LLC. Namco, LLC is a multi-channel home recreational products retailer and wholesaler with operations throughout the Northeastern and...
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Conn’s, Inc., a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit, announced that it completed an expansion of its asset-based loan facility with a syndicate of banks.
The revolving...
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Wells Fargo Capital Finance announced that through its Retail Finance unit, it is leading a new $1 billion senior secured, asset-based revolving credit facility for SUPERVALU, a leading grocery wholesaler and retailer. Wells Fargo Bank, N.A. will...
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DDR Corp. announced that it has closed the refinancing of its two senior unsecured revolving credit facilities scheduled to mature in February 2016 and its senior secured term loan scheduled to mature in September 2014. The new $750 million unsecured...
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January 18, 2013, 08:30 AM
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Fitch expects 2012 holiday retail sales to grow between 3% and 4% versus 5.6% in 2011 despite a strong seasonal start. Total spending increased 13% during the Thanksgiving weekend, according to a survey conducted by the National Retail Federation...
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December 03, 2012, 08:03 AM
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The National Retail Federation urged President Obama and Congress to come up with a plan to avoid the “fiscal cliff” by Thanksgiving, saying uncertainty over the pending combination of tax hikes and spending cuts threatens consumer confidence during...
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November 20, 2012, 07:36 AM
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FTI Consulting released its 2012 Retail Report. The report, titled "A Real Cliffhanger," analyzes the state of the retail sector in the United States and finds resilience in consumer spending on goods despite ongoing global economic uncertainty and...
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November 19, 2012, 07:44 AM
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The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $411.6 billion, a decrease of 0.3%...
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November 16, 2012, 08:09 AM
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According to the research study “Taking Stock in Tough Times: U.S. Retail Sector Outlook,” produced by CIT Group with Forbes Insights, more than a third (37%) of middle market retail executives believe their holiday sales will increase over 2011...
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November 15, 2012, 07:43 AM
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