Salus Provides $30MM Revolver to dELiA*s
Retailer dELiA*s announced that it entered into a new, four-year $30 million revolving credit facility with Salus Capital Partners. The new facility replaces the company’s prior $25 million revolving credit facility with GE Capital, Corporate Retail Finance.
The company also announced it 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 is a multi-channel retail company primarily marketing to teenage girls.