Daily News: May 16, 2017

AloStar Commits $20MM to Shiekh Shoes


AloStar provided a $20 million commitment to Shiekh Shoes, a limited-edition footwear and apparel retailer in Ontario, CA.

Founded in 1991, Shiekh Shoes is the largest independent sneaker retailer on the West Coast. The retailer operates more than 120 stores across the U.S. with locations in Arizona, California, Illinois, Michigan, Nevada, New Mexico, Oregon, Texas and Washington. In 2016, Shiekh Shoes acquired Karmaloop, a popular streetwear e-commerce site, for an undisclosed amount.

AloStar’s customized capital solution expanded the company’s borrowing capacity and created additional liquidity for future growth opportunities.