News

The Tiger Group achieved 100% sell-through during its online-only auction of excess gear from The Camera Division and 98% sell-through during an online-only auction for surplus equipment from a production supplier known for its support of television and film productions.

Anchorage Capital Group, GSO Capital Partners and Davidson Kempner Capital Management committed to provide a $400 million debtor-in-possession financing facility and exit financing to J. Crew, which filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.

Monroe Capital acted as co-syndication agent in the funding of a senior credit facility and equity co-investment to support the acquisition of Kindeva Drug Delivery by Altaris Capital Partners.

J D Factors recently provided $820,000 in factoring facilities, including a $400,000 factoring facility to an oil field services company in Texas.

The Federal Reserve expanded access to its Paycheck Protection Program Liquidity Facility to additional lenders and expanded the collateral that can be pledged. The Fed also broadened the scope and eligibility for the Main Street Lending Program.

Celtic Capital provided $2.425 million in accounts receivable and inventory lines of credit to a California-based manufacturer of packaging products primarily used in the healthcare, cosmetics, pharmaceutical and food industries.

Alvarez & Marsal North America served as restructuring advisor to American Commercial Barge Line, successor to American Commercial Line, which successfully completed its recapitalization and emerged from Chapter 11.

Dean Foods completed the previously announced sale of the company’s Uncle Matt’s business to Harmoni. The company also completed the sale of multiple facilities and the Meadow Gold Hawaii brand name to MGD Acquisition. 

Asset Based Lending Consultants opened new offices in Connecticut and the New York Metropolitan Area, which will be led by Patrick Chemngorem, CPA, and Dustin Fitzpatrick, respectively.

The AICPA released recommendations on the appropriate documents and calculations that small businesses should use to qualify for loan forgiveness under the Paycheck Protection Program, including aligning the eight-week coverage period with the beginning of a pay period.