CFO Magazine reported that Patrick Dempsey’s Global Baristas wasn’t the only saving grace in the Tully’s Coffee bankruptcy and eventual §363 sale. According to CFO, it was the nontraditional DIP financing that kept the company afloat, giving it the opportunity to operate its stores temporarily leading up to the auction. The cash from Dempsey’s group, the article said, also allowed the company to repay the loan.
To read the entire CFO story, click here.
Previously on abfjournal: Deloitte Advises Tully’s Coffee in Sale to Global Baristas, July 12, 2013