According to an 8K filed with the SEC, CIT Finance and Jefferies Finance agreed to a further amendment to J.Jill’s forbearance agreement dated June 15, 2020, which extends the forbearance period by five days through Sept. 1.
As previously reported, J.Jill entered into the two existing forbearance agreements, as amended on July 29, 2020 with CIT and Jefferies under its ABL and term loan credit facilities.
Under the amendments to the existing forbearance agreements, the respective lenders have agreed not to exercise any rights and remedies until Sept. 1 so long as, among other things, J.Jill otherwise remains in compliance with its credit facilities and complies with the terms of the forbearance agreements.
J.Jill is an omnichannel retailer and women’s apparel brand.
