Daily News: November 8, 2017

Siena Provides $7.5MM ABL Facility for B&B Bachrach


Siena Lending Group closed a three-year $7.5 million asset-based revolving credit and FILO term loan facility for B&B Bachrach, a menswear retailer headquartered in Los Angeles.

The financing was completed in conjunction with Bachrach’s emergence from Chapter 11 proceedings and was used to refinance existing debt and provide additional working capital to support business growth following the company’s exit.

Established in 1877, Bachrach sells branded men’s suits, pants, shirts, ties, shoes and accessories at its stores in major malls in 10 states as well as e-commerce sales through the company website.

Brian Lipman, CEO of B&B Bachrach, said, “Mark and the Siena team have been a pleasure to work with from the first call. Siena was responsive and worked diligently to come up with the best financing plan for Bachrach and expedited the process. They made a very difficult situation smooth and worked with us through the entire proceedings.”