News

ABFJ Journal has undergone quite a bit of change in 2020, including launching new products like podcasts and livestreams and expanding its reader base and breadth of coverage to include alternative lenders, junior lenders, leveraged finance professionals and more.

Guitar Center, a global musical instrument retailer, entered into a restructuring support agreement with its equity sponsor, funds managed by the private equity group of Ares Management, Brigade Capital Management and The Carlyle Group.

Gordon Brothers added six industry veterans from lending institutions across the globe to expand its special situations lending and investment platform.

AlixPartners is serving as restructuring advisor to menswear retailer Tailored Brands in the company’s plan of reorganization under its Chapter 11 filing. Tailored Brands expects to emerge from Chapter 11 protection by the end of November.

eCapital provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support its new imported product available for purchase from retailers such as Costco.

SB360 Capital Partners, an asset disposition specialist, is serving as the exclusive consultant to assist girls clothing and accessory retailer Justice in inventory sales of 85 stores as well as the e-commerce site at shopjustice.com.

The amount of Chapter 11 bankruptcy filings in the third quarter, which are tracked in the newest Polsinelli-TrBK Distress Indices Report, hit the highest level since 2010. This trend is expected to continue in 2021.

CoreFund Capital recently facilitated an increase to the credit facility for a global logistics and freight forwarding company. The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2.

HSBC Bank, part of HSBC Group, is working with Biz2Credit to provide small business owners quicker and easier access when applying for business financing with the Biz2X Platform by Biz2Credit.

Small business loan approval percentages at big banks, or those with $10 billion or more in assets, dropped slightly from 13.5% in September to 13.3% in October, according to the latest Biz2Credit Small Business Lending Index.