Express, Inc. has received a non-binding letter of intent from a consortium led by WHP Global (“WHP”), and participants including a wholly owned indirect subsidiary of Simon Property Group, L. P. (“Simon”) and Brookfield Properties (“Brookfield”) for...
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April 22, 2024, 08:00 AM
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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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April 19, 2024, 07:56 AM
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Number Holdings, the direct parent company of 99 Cents Only Stores has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District of Delaware to implement...
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April 08, 2024, 07:47 AM
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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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March 26, 2024, 09:06 AM
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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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March 05, 2024, 07:49 AM
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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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March 04, 2024, 07:48 AM
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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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Schottenstein affiliate SB360 Capital Partners (SB360), a leading asset realization and advisory firm, announced the appointment of finance industry veteran Marc S. Price as Executive Vice President of Corporate Development. Based in the Boston...
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February 27, 2024, 08:07 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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Trinity Capital announced the commitment of $15 million in growth capital to Kafene, a point-of-sale platform that helps retailers offer underserved consumers more flexible purchase options through transparent lease-to-own (LTO) agreements.Kafene's...
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February 01, 2024, 07:44 AM
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Gordon Brothers has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC. The U.S.-based online retailer specialized in the sale of...
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January 31, 2024, 07:25 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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Victory Park Capital (“VPC”) closed a refinancing agreement for a US$225 million debt facility with Zip Co Limited (“Zip”), a global leader in the digital retail finance and payments industries. The transaction will support the growth of Zip’s US...
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January 17, 2024, 07:53 AM
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PREIT, a leading operator of diverse retail and experiential destinations, announced it is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its total indebtedness by approximately $880 million and extend...
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December 12, 2023, 07:54 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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Rite Aid Corporation has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation. Implementing the...
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October 16, 2023, 08:05 AM
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The Wall Street Journal reported Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that would include liquidating a substantial number of its more than 2,100 drugstores, citing people familiar with the talks.According to the...
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September 25, 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'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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July 25, 2023, 07:59 AM
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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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July 06, 2023, 07:00 AM
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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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June 29, 2023, 07:17 AM
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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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June 28, 2023, 08:00 AM
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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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June 26, 2023, 08:15 AM
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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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June 21, 2023, 07:30 AM
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Bed Bath & Beyond announced that it and certain of its subsidiaries (collectively, "the Company") filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District...
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April 24, 2023, 08:00 AM
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David's Bridal, the nation's leading bridal and special occasion authority, announced that the Company and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United...
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April 17, 2023, 08:05 AM
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Gordon Brothers will sell retail leases and operate going-out-of-business sales at all 39 retail store locations of Esco Ltd., operating as Shoe City, throughout Maryland, Virginia and Washington, D.C. After 70 years in business, Shoe City filed for...
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April 07, 2023, 07:37 AM
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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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March 21, 2023, 07:55 AM
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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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March 10, 2023, 07:21 AM
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A&G Real Estate Partners, in its capacity as real estate advisor to Party City Holdco Inc. (PCHI), plans to auction eight additional Party City leases as part of PCHI’s expedited financial restructuring, subject to Bankruptcy Court approval of bid...
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March 09, 2023, 06:00 AM
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Eclipse Business Capital (“EBC”), provided a $135 million senior secured revolving credit facility to an e-commerce retailer.The credit facility is secured by accounts receivable and inventory with the proceeds being used to refinance the existing...
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February 28, 2023, 07:48 AM
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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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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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Hilco Merchant Resources announced the addition of Mike Dwyer to the team. Dwyer will serve as Executive Vice President, Head of Operations with a focus on the implementation, management, and execution of all deal-related functions and operating...
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January 26, 2023, 08:00 AM
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AlixPartners announced that Justin MacFarlane has rejoined the firm, as a Partner and Managing Director in its global retail practice. He will work from AlixPartners’ New York office.MacFarlane brings nearly three decades of experience in...
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January 25, 2023, 07:17 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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Reuters reported that Party City Holdco Inc. filed for Chapter 11 bankruptcy protection on Tuesday, making it the latest casualty in the U.S. retail industry.Read the Reuters news story here.
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January 18, 2023, 07:59 AM
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CIT, a division of First Citizens Bank, announced that its Asset-Based Lending business has provided a $35 million revolving credit facility to Utopia Deals.Based in Plainview, N.Y., Utopia Deals is a leading seller of linens, towels, bedding and...
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December 07, 2022, 07:51 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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Iron Horse Credit (“IHC”), closed a $2,500,000 stand-alone inventory revolving line of credit to an e-commerce retailer and wholesaler of athletic mats and flooring tiles. Started by a husband and wife from their garage, the company’s product was...
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October 26, 2022, 07:09 AM
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Glenn McMahon has joined Getzler Henrich & Associates as a Managing Director of the firm’s Retail Turnaround and Restructuring Practice.
With his over 30 years of executive experience leading the transformation and growth of storied brands such as...
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September 20, 2022, 07:50 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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Jennifer A. Lewellyn, a 22-year retail veteran with experience in both managing healthy stores and liquidating underperforming locations, has joined Tiger Group as Associate Director of Retail Operations. Based in Pittsburgh, Lewellyn will provide...
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September 16, 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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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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B. Riley Financial announced that Timothy J. Shilling has joined as Executive Vice President of B. Riley Retail Solutions. In this role, Shilling will work in close partnership with the executive leadership team to execute the firm’s strategy and...
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July 01, 2022, 08:00 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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June 28, 2022, 08:00 AM
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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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June 24, 2022, 07:54 AM
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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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June 23, 2022, 07:10 AM
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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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June 08, 2022, 08:00 AM
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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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June 06, 2022, 07:53 AM
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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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May 17, 2022, 08:10 AM
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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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May 17, 2022, 07:59 AM
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Hilco Global announced that Robert (Bob) Grosskopf, former Co-President of Gordon Brothers Retail Partners, has joined Hilco Merchant Resources (HMR) as an Executive Vice President. Grosskopf is a savvy veteran of the inventory disposition industry...
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May 13, 2022, 08:00 AM
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Second Avenue Capital Partners closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit...
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April 26, 2022, 07:58 AM
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Iron Horse Credit (“IHC”) closed a $3,000,000 stand-alone inventory revolving line of credit to an e-commerce retailer of bedding and loungewear.As a fourth-generation family involved in the textile industry, the client has developed a product of...
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April 20, 2022, 07:35 AM
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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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April 14, 2022, 07:00 AM
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SLR Credit Solutions closed a $20,500,000 senior secured term loan in concert with a $20,000,000, revolving line of credit for Oscar de la Renta, LLC (ODLR). Founded in 1965, ODLR is a designer and retailer of luxury women’s apparel sold through...
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April 07, 2022, 08:00 AM
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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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March 14, 2022, 07:45 AM
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Brand executive and corporate counsel Eric Gul has joined Tiger Group as a Managing Director. Most recently General Counsel at Sequential Brands Group, Inc., Gul brings 22 years of experience in advising both public and private companies on IP...
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March 10, 2022, 08:00 AM
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Sabre Corporation refinanced a portion of its existing indebtedness. Sabre incurred no additional indebtedness as a result of the refinancing above the refinanced amount, other than amounts covering certain interest, fees and expenses. The...
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March 10, 2022, 07:27 AM
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Sound Point Capital Management closed on a senior secured term loan financing to a subsidiary of Perry Ellis International. Funding provided by Sound Point will be used to pay down the Company’s existing debt. The Company has been in business for 54...
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January 10, 2022, 07:15 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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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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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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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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Tiger Finance closed on $8.2 million in growth financing for Outdoor Adventure Brands (OAB)—an ecommerce and retail company known for its Austin Canoe & Kayak stores in Texas and Summit Sports locations in Michigan.Private-equity sponsor Digital Fuel...
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October 14, 2021, 08:00 AM
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HyperAMS and Liquid Asset Partners announced a new joint venture, HyperLiquid Retail Solutions, to focus on retail inventory and store closing liquidations. HyperLiquid will utilize decades of experience and specialties of both businesses to provide...
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October 13, 2021, 07:18 AM
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For its work on the Chapter 11 bankruptcy restructuring of off-price home goods retailer Tuesday Morning, A&G Real Estate Partners was among the winners of the Turnaround Management Association’s 2021 Turnaround/Transaction of the Year Awards. The...
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September 22, 2021, 07:37 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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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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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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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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June 30, 2021, 08:17 AM
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Portage Point Partners significantly enhanced its consumer retail practice with the addition of a team of executives that have helped transform global retail, including Managing Directors Tom Park and Glenn McMahon and Senior Advisers Michael Feurer...
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June 07, 2021, 07:15 AM
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Gordon Brothers, the global advisory, restructuring and investment firm and owner of the British heritage brand Laura Ashley®, welcomed Carolyn D'Angelo as Managing Director, Brands and President of Laura Ashley. Based in New York, New York...
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May 04, 2021, 08:00 AM
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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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May 04, 2021, 07:00 AM
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Grocers need to reexamine how their real estate will function in the post-pandemic world, writes Joe McKeska, a Senior Managing Director at A&G Real Estate Partners, in an April 26 opinion piece for Progressive Grocer. While many chains performed...
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May 03, 2021, 07:00 AM
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SSG Capital Advisors acted as the investment banker to South Moon Sales, Inc., d/b/a South Moon Under in the sale of substantially all of its assets to an affiliate of Ames Watson LLC. The transaction was effectuated through Article 9 of the Uniform...
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April 30, 2021, 07:30 AM
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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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April 30, 2021, 07:00 AM
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Gordon Brothers is providing a secured credit facility to Nicole Miller, the eponymous fashion and lifestyle brand founded and led by Nicole Miller. The facility is secured by the company’s intellectual property and will be used to fund strategic...
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April 02, 2021, 08:00 AM
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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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March 31, 2021, 07:14 AM
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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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March 18, 2021, 08:00 AM
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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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March 04, 2021, 08:15 AM
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The Michaels Companies and funds managed by affiliates of Apollo Global Management, announced that they have entered into a definitive merger agreement pursuant to which investment funds managed by affiliates of Apollo have agreed to acquire the...
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March 04, 2021, 07:55 AM
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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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March 02, 2021, 08:10 AM
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Context Business Lending announced the launch of its official E-Commerce Division. With online retail sales skyrocketing as a result of the Pandemic, many E-commerce companies and distribution centers have found themselves without viable working...
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March 02, 2021, 08:00 AM
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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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Even though capital markets are opening up, U.S. retailers will continue to file for bankruptcy and close stores this year, due in part to their need to repay deferred rent from 2020, warned Andy Graiser, Co-President of A&G Real Estate Partners...
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February 23, 2021, 07:00 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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Portage Point Partners announced that Glenn McMahon has joined the firm as a Managing Director.McMahon has over three decades of experience leading all aspects of the consumer lifestyle value stream. “Glenn has reinvigorated struggling brands and...
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January 07, 2021, 08:18 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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Tuesday Morning and certain of its subsidiaries announced that it has successfully completed its financial and operational reorganization and emerged from Chapter 11.Tuesday Morning is supported by a $110 million asset-backed lending facility...
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January 05, 2021, 08:21 AM
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More than 1,000 chain stores across New York City—or a little less than one out of every seven chains that were open this time last year—have closed their doors over the past twelve months, underscoring the immense difficulties facing retail...
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January 04, 2021, 09:05 AM
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Guitar Center announced that the United States Bankruptcy Court for the Eastern District of Virginia has confirmed the Company’s Plan of Reorganization (the “Plan”). As planned, the Company expects to emerge from Chapter 11 by December 31 with...
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December 18, 2020, 07:40 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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Gordon Brothers, the global advisory, restructuring and investment firm, announced Laura Ashley® has chosen to partner with NEXT plc to reintroduce their home products online and in stores nationwide. NEXT has over 500 stores in the U.K. and Eire and...
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October 30, 2020, 08:03 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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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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March 25, 2020, 09:05 AM
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Pier 1 Imports, Inc. (“Pier 1” or the “Company”) announced that it has entered into a Plan Support Agreement (the “PSA”) with a majority of its term loan lenders and is pursuing a sale of the Company. To facilitate an orderly sale process and...
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February 18, 2020, 09:03 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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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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April 09, 2019, 09:00 AM
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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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March 21, 2019, 09:00 AM
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Wisconsin-based Shopko, which operates a chain of retail pharmacies, announced that despite the company's best efforts, it was unable to find a buyer for its go-forward business as a going concern. As a result, the company will commence an orderly...
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March 19, 2019, 08:36 AM
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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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March 06, 2019, 08:07 AM
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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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March 04, 2019, 08:00 AM
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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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March 04, 2019, 07:22 AM
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Talks at a retail CEO summit highlighted the dynamism of global retailing—at least among chains that ramp up their efficiency and push to reinvent themselves, said Peter J. Lynch, a Los Angeles-based Principal at A&G Realty Partners.
“Bankruptcies...
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February 28, 2019, 07:13 AM
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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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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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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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JLL, a property consultancy company and Gordon Brothers announced a strategic alliance to elevate both firm’s services for retailers and their investors. The alliance will support all retailers, growing or challenged, with the most comprehensive set...
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February 06, 2019, 07:27 AM
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A steady drumbeat of disruption is a key driver of industries facing the need for transformative change, according to global consulting firm AlixPartners’ 14th annual survey of international restructuring experts released. New technology, rapid-fire...
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February 06, 2019, 07:24 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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AlixPartners, the global consulting firm, announced that retail and consumer-experience expert Adam Pressman has joined the firm’s Retail Practice as a Managing Director. He will work from AlixPartners’ Chicago office.
Pressman brings nearly two...
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January 25, 2019, 07:07 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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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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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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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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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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A massive amount of home-improvement and furnishings merchandise—about 1.5 million items valued at more than $23 million—is available at liquidation-sale discounts as bankrupt Home Owners Bargain Outlet (HOBO) shutters all seven of its stores...
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November 05, 2018, 07:17 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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Perry Ellis International, Inc. announced the successful completion of its acquisition by an entity controlled by George Feldenkreis in which Perry Ellis has become a private company through a $437 million transaction.
The transaction was financed...
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October 25, 2018, 08:00 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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As many had anticipated, Sears Holdings Corporation filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.The Company expects to move through the restructuring...
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October 15, 2018, 07:23 AM
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National Stores will begin a store closing sale at 184 of its remaining locations, the company said. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners....
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October 15, 2018, 07:19 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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Michael Kors Holdings Limited, a global fashion luxury group, announced that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace S.p.A. for a total enterprise value of Euro...
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September 26, 2018, 08:02 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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Cracker Barrel Old Country Store, Inc.announced that it has entered into a five-year $950 million revolving line of credit. This new credit facility replaces the previous $750 million revolving line of credit. Merrill Lynch, Pierce, Fenner & Smith...
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September 10, 2018, 08:00 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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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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US Foods Holding Corp. and Services Group of America announced that they have entered into a definitive agreement under which US Foods will acquire five operating companies collectively known as SGA’s Food Group of Companies, for $1.8 billion in cash...
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July 31, 2018, 07:31 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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July 18, 2018, 08:00 AM
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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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July 11, 2018, 08:00 AM
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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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July 09, 2018, 07:38 AM
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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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July 09, 2018, 07:10 AM
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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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July 05, 2018, 08:00 AM
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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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June 19, 2018, 07:18 AM
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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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June 11, 2018, 07:15 AM
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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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June 01, 2018, 07:11 AM
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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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May 24, 2018, 07:18 AM
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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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May 14, 2018, 08:00 AM
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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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May 11, 2018, 08:01 AM
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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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May 10, 2018, 08:00 AM
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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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April 26, 2018, 07:26 AM
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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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April 23, 2018, 08:00 AM
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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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April 23, 2018, 07:21 AM
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Bertucci's, the casual restaurant known for its authentic Italian foods and signature brick oven pizzas, announced that it filed voluntary petitions for relief under Chapter 11 over the weekend in the United States Bankruptcy Court for the District...
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April 16, 2018, 07:31 AM
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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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March 26, 2018, 07:33 AM
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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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March 22, 2018, 08:00 AM
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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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March 19, 2018, 08:00 AM
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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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March 16, 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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Despite last year being hectic for the restructuring industry, including being the year of the so-called “retail apocalypse,” look for 2018 to be perhaps even busier, with possible continued distress in retail, increased activity in healthcare...
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January 19, 2018, 07:34 AM
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Houlihan Lokey has announced that Nathan Pund has joined the firm as a Managing Director in the Consumer, Food, & Retail (CFR) Group. He is based in Dallas, Texas, and will continue his focus on the active lifestyle, outdoor, and tactical...
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January 09, 2018, 07:32 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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A Bankruptcy court in Delaware has cleared Vitamin World to shutter more than 100 stores as it continues to seek a buyer for the remianinder of the company. Store closing sales will begin immediately at select Vitamin World locations – offering...
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November 27, 2017, 07:23 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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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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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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Hilco Merchant Resources (HMR) announced that it has hired Seth Marks in the newly created role of Senior Vice President - Chief Merchandising Officer for Hilco Merchant Resources and as the CEO of Hilco Wholesale Solutions. Marc Caplan will...
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October 16, 2017, 11:00 AM
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Carl Marks Advisors, a corporate restructuring and investment banking firm serving middle market companies and Carl Marks Securities, LLC, the broker-dealer affiliate, capped off a busy and productive summer with the completion of three complex...
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October 02, 2017, 07:13 AM
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An overwhelming majority (95%) of U.S. consumer goods and retail CEOs are confident about the growth outlook for the global economy, the industry and their companies over the next three years, despite potential technological risks, according to a...
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September 27, 2017, 07:59 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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AGI HoldCo, Inc., a multi-channel leading women's footwear brand doing business as Aerosoles, announced that it, along with certain of its subsidiaries have voluntarily filed petitions to reorganize under chapter 11 of the U.S. Bankruptcy Code in the...
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September 18, 2017, 08:00 AM
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DDR Corp., an owner and manager of 298 value-oriented shopping centers, announced that it has refinanced its two revolving credit facilities, increasing borrowing capacity to $1.0 billion and extending their maturities. The company also extended the...
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September 18, 2017, 07:15 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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Perfumania Holdings, Inc., a U.S. specialty retailer and distributor of designer fragrances and related beauty products, announced that it has initiated a recapitalization to be facilitated through a pre-packaged Plan of Reorganization to reduce its...
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August 28, 2017, 08:43 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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With distress in the brick & mortar sector leading to hundreds of store closures since the start of the year, retail firms operating in the middle market have managed to dodge the worst of the crisis, posting gains in both sales and employment in the...
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July 27, 2017, 07:20 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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July 25, 2017, 08:00 AM
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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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July 07, 2017, 08:00 AM
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Ongoing distress in the retail sector claimed another casualty this week, with True Religion Brand Jeans filing for creditor protection under Chapter 11 in the U.S. bankruptcy court in the District of Delaware. In a court filingthe company stated...
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July 05, 2017, 08:07 AM
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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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June 29, 2017, 08:00 AM
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A bankruptcy court in New York has approved an agreement between BCBG Max Azria Group, LLC for the sale of substantially all the assets of the company through a Chapter 11 plan to Marquee Brands LLC and Global Brands Group Holding Limited. According...
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June 28, 2017, 07:23 AM
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Sears Canada Inc. and certain of its subsidiaries have been granted an order from the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act (CCAA).Among other things, the Initial Order provides for a stay of proceedings in...
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June 23, 2017, 08:00 AM
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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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June 23, 2017, 07:45 AM
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As the industry continues to struggle, the number of retailers filing for bankruptcy keeps growing, and 2017 could end up with the highest number of retail bankruptcies ever. That's the assessment of a new report from BankruptcyData.com that compiles...
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June 22, 2017, 07:30 AM
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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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June 21, 2017, 07:30 AM
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Alvarez & Marsal (A&M) has announced the addition of Kristin Kohler Burrows, who joins as a Senior Director in its Private Equity Performance Improvement practice in New York.Burrows brings more than 20 years of experience leading athletic and...
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June 21, 2017, 07:21 AM
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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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June 01, 2017, 08:00 AM
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Following a spate of store closures last month, teen specialty retailer rue21, Inc. announced it has filed a voluntary petition for reorganization under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Western District of...
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May 16, 2017, 07:31 AM
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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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May 16, 2017, 07:20 AM
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2017's first quarter was grim for retailers, as bankruptcy filings continued to escalate, with no sign of decreasing in the foreseeable future, proving the "Amazon Effect" is not a fluke. Energy industry filings are expected to continue in the second...
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May 12, 2017, 07:38 AM
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FTI Consulting, Inc. announced the expansion of the firm’s Retail & Consumer Products practice with the addition of three Senior Managing Directors in the United States and Australia. J.D. Wichser, who will be based in Chicago, joins from Alvarez &...
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May 04, 2017, 07:19 AM
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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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April 24, 2017, 07:14 AM
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ABL Advisor Exclusive: Distress in the brick and mortar sector led to a surge in retail bankruptcies in the first three months of 2017, with retailers accounting for 48% more filings than the same period last year.
That’s according to a new report...
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April 19, 2017, 08:00 AM
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A new study released today by AlixPartners, the global business-advisory firm, posits that the turbulence in the chain-restaurant industry of late—from underperforming results to an uptick in bankruptcies to renewed shareholder pressures—might not be...
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April 13, 2017, 07:11 AM
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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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March 22, 2017, 08:00 AM
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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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Citizens Bank announced that Citizens Commercial Banking is providing a $65 million loan to NED Altoona LLC / New England Development to finance, in part, the construction of a 300,000 square-foot retail outlet center outside Des Moines, Iowa. ...
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February 15, 2017, 07:45 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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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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Siena Lending Group announced the completion of a $10 million credit facility for Geneva Watch Group, Inc. ("Geneva") to refinance their existing senior debt and to support their working capital needs. Headquartered in New York, NY, Geneva is a...
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January 13, 2017, 07:50 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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Square 1 Bank, a division of Pacific Western Bank, provided a $3.25 million credit facility to new client InContext Solutions, a global leader in cloud-based virtual reality (VR) retail solutions. Proceeds from the facility will provide working...
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November 30, 2016, 07:07 AM
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Aaron Peyton has joined SunTrust Robinson Humphrey as a managing director to be head of Consumer & Retail Syndicated & Leveraged Finance based in New York. Peyton has more than 16 years of experience in leveraged finance covering the consumer &...
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November 15, 2016, 07:43 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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The construction, consumer and retail, and healthcare industries were the most active in closing deals valued at $75 million or less in the third quarter of 2016, according to a new survey released by CMF Associates, private equity’s preferred...
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November 08, 2016, 07:41 AM
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Retailers could see record web traffic this year, according to Deloitte’s 31st annual holiday survey of consumer spending intentions and trends. Among the findings from the 2016 study:The Internet gallops ahead as the top shopping destination
More...
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October 31, 2016, 08:08 AM
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GA Europe, a leading retail restructuring specialist and a division of Great American Group (GA), has assumed control of significant assets of the Dutch plus size retailer, MS Mode Nederland B.V., which filed for insolvency on August 11th. GA Europe...
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October 11, 2016, 07:22 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 reports that Golfsmith International Holdings Inc. filed for bankruptcy, hoping to reorganize or attract a buyer who can save the golf-gear retailer as the sport’s popularity fades in North America.According to the Bloomberg report...
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September 15, 2016, 07:05 AM
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U.S. middle market companies recorded 7.2 percent average revenue growth in the second quarter of 2016, building upon already strong growth figures from Q1, according to the National Center for the Middle Market (NCMM). Combined with solid jobs gains...
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July 28, 2016, 07:41 AM
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Gordon Brothers Group, a global advisory, restructuring and investment firm announced today that it has acquired Blast–Off Brands, the Los Angeles-based licensing and branding company. Blast-Off Brands co-founder, Ramez Toubassy, will join Gordon...
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May 18, 2016, 08:05 AM
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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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May 04, 2016, 08:06 AM
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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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April 22, 2016, 08:03 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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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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Hilco Streambank announced that on behalf of certain lenders, it is assisting RadioShack Corporation in soliciting offers to acquire certain assets. The assets include certain U.S and Foreign registered Trademarks, 73 active and pending patent...
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April 24, 2015, 07:26 AM
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The Wall Street Journal reported Frederick’s of Hollywood filed for bankruptcy protection Sunday with a $22.5 million offer in hand from Authentic Brands Group, LLC. Stores that weren't liquidated earlier this year shut down suddenly last week as...
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April 20, 2015, 07:29 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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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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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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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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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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July 15, 2014, 07:23 AM
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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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July 15, 2014, 07:14 AM
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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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June 24, 2014, 07:28 AM
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Brookstone, Inc. announced that it is working toward an agreement with Spencer Spirit Holdings to acquire the company. In order to facilitate the sale, the company, with the support of holders of its outstanding bonds, is contemplating filing a...
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March 28, 2014, 07:09 AM
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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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March 27, 2014, 07:19 AM
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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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March 17, 2014, 07:29 AM
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After over 25 years in business, Dots, LLC, an Ohio-based women’s fashion discount retailer, is closing its doors. The company filed for Chapter 11 protection on January 20, 2014. On February 27th, Gordon Brothers Group, a global advisory...
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February 28, 2014, 07:32 AM
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Salus Capital Partners, LLC, announced it has provided a $20 million senior secured credit facility to Worldwise, Inc. The financing will be used to refinance its current lender and for general corporate purposes.Founded in 1990 and acquired by...
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January 23, 2014, 07:29 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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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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Ares Management LLC and Canada Pension Plan Investment Board (CPPIB) announced their affiliates have entered into a definitive agreement to acquire Neiman Marcus Group LTD Inc. from a group of investors led by TPG and Warburg Pincus for a purchase...
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September 10, 2013, 07:14 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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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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July 31, 2013, 07:53 AM
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Hudson’s Bay Company and Saks Incorporated announced that they have entered into a definitive merger agreement whereby HBC will acquire Saks for U.S.$16.00 per share in an all-cash transaction valued at approximately U.S.$2.9 billion, including debt....
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July 29, 2013, 07:36 AM
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Importers and manufacturers who sell to America's major retailers are seeing growth in sales for both the summer and back-to-school seasons, according to Capital Business Credit (CBC), a non-bank lender that services the retail...
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July 15, 2013, 07:29 AM
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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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July 09, 2013, 07:56 AM
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The second quarter Phoenix Management “Lending Climate in America” Survey, results show more lenders anticipate spreads to decrease.Fifty-eight percent of respondents (versus sixty-five percent in the previous quarter) anticipate maintaining lending...
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June 27, 2013, 08:08 AM
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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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May 29, 2013, 07:26 AM
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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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April 04, 2013, 07:46 AM
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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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March 29, 2013, 07:56 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 of its asset-based loan facility with a syndicate of banks.
The revolving...
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March 28, 2013, 07:11 AM
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Salus Capital Partners provided a C$6 million senior secured credit facility to Northern Reflections Ltd. The company is one of Canada’s largest privately-held apparel retailers offering moderately-priced fashions for women. The financing will be...
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February 06, 2013, 07:22 AM
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Reuters reports Big M Inc., the owner of the 129 Mandee, Annie Sez and Afaze women's clothing stores filed for bankruptcy after Superstorm Sandy cut into the New Jersey-based company's sales and derailed its turnaround.
The company was forced to...
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January 08, 2013, 07:49 AM
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Salus Capital Partners provided a $25 million senior secured credit facility to The Mitchell Gold Co., d/b/a Mitchell Gold + Bob Williams, a leading full-line provider of premium branded home and hospitality furnishings, supplying consumers with a...
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December 12, 2012, 07:43 AM
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In its capacity as administrative agent, Bank of America Business Capital has extended its asset-based credit facility for the W.C. Bradley Co. W.C. Bradley refinanced a $60 million revolver with the bank and will use the proceeds for general working...
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October 18, 2012, 08:00 AM
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Orchard Supply Hardware Stores Corp. closed on a new five-year senior secured credit facility consisting of a $120.0 million revolving credit facility and a $7.5 million FILO term loan, with Wells Fargo Capital Finance and Bank of America. The new...
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October 18, 2012, 08:00 AM
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Wells Fargo Capital Finance acted as left lead arranger and administrative agent and, together with the other arrangers, underwrote a $1.65 billion senior secured, asset-based revolving credit facility for SUPERVALU INC. The facility refinances a...
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September 06, 2012, 08:00 AM
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Salus Capital Partners provided a $21.5 million senior-secured credit facility to a newly created company to purchase certain assets from one of North America’s leading retailer of apparel and accessories. The financing will also be used as working...
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August 06, 2012, 06:00 AM
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Wells Fargo Capital Finance arranged and agented a new five-year $200 million senior secured, asset-based revolving credit facility as part of a recapitalization for Barneys New York. The facility will be used for ongoing working capital...
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July 02, 2012, 06:00 AM
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