News

North Mill Capital provided $2.75 million in recent transactions, including a $1.75 million asset-based revolving line of credit to a wholesaler and distributor of maple syrup in Wisconsin.

J D Factors provided $1.47 million in recent factoring facilities, including a $500,000 factoring facility to a transportation company in New York.

BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.

The Moody’s Analytics baseline economic forecast reports that real global GDP will fall by 4.5% this year as a result of COVID-19 and the economy will not return to full-employment until mid-decade.

The U.S. Bankruptcy Court for the Southern District of Texas authorized JCPenney to access its debtor-in-possession financing, which includes $450 million of new money from its existing first lien lenders.

Joint venture partners Gordon Brothers and Hilco Global have commenced “going-out-of-business” sales at more than 350 Pier 1 stores across the United States.

Crestmark secured $14.34 million in ABL financial solutions for 11 new clients in the second half of May.

Total commercial Chapter 11 filings in May 2020 increased 48% from May 2019, according to data provided by Epiq Systems. However, total bankruptcy filings in May 2020 were down 42% from total filings in May 2019.

Vervent entered a partnership with Finitive to further promote collaboration and inclusion within the fintech industry.

Prestige Capital Finance closed $1.25 million in combined factoring arrangements for Nouri Life, a probiotics company; KiiTO, a plant-based nutrition company; and Cure Hydration, a sports hydration company.