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dELiA*s, Inc. Announces New Credit Facilities With Salus Capital

June 17, 2013, 08:11 AM
Filed Under: Retail

dELiA*s, Inc. announced that it has entered into a new, four year, $30 million revolving credit facility with Salus Capital Partners, LLC. The new facility replaces the Company’s prior $25 million revolving credit facility with GE Capital, Corporate Retail Finance.

dELiA*s also announced it has entered into a $15 million dollar letter of credit facility with GE Capital, Corporate Retail Finance. This letter of credit facility includes a cash collateral requirement to support outstanding letters of credit issued from time to time under the facility.

Tracy Gardner, Chief Executive Officer, commented, “We are pleased to have entered into this new agreement with Salus Capital and to continue our relationship with GE Capital. These new facilities, combined with the sale of Alloy, will improve our financial flexibility as we continue to transition our business.”

dELiA*s, Inc. is a multi-channel retail company primarily marketing to teenage girls. It generates revenue by selling apparel, accessories and footwear to consumers through its website, direct mail catalogs, and mall-based retail stores.

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