SB360 Capital Partners has renewed its agreement to work as the exclusive consultant to conduct “store closing” sales for Fred’s and will begin sales in 129 new locations today.
SB360 Capital Partners has been retained as the exclusive consultant to conduct “store closing” sales and other clearance events for Memphis-based Fred’s.
Fred’s increased its credit facility from $150 million to $225 million to support its upcoming purchase of 885 Rite Aid stores from Walgreens. Regions Bank was administrative agent for the lenders.
To support acquisition by Fred’s of 865 Rite Aid stores, Bank of America, Merrill Lynch and Regions Capital have provided $1.05 billion of committed ABL financing.