According to an 8K filed with the SEC, CIT Finance and Jefferies Finance approved an extension to the existing forbearance agreements on J.Jill’s ABL and term loan credit facilities. The forbearance period was extended from July 23 to July 30.
Under the amendments to the existing forbearance agreements, the respective lenders have agreed not to exercise any rights and remedies until July 30 so long as, among other things, the J.Jill otherwise remains in compliance with its credit facilities and complies with the terms of the forbearance agreements.
As previously reported, J.Jill and its lenders originally extended the company’s existing forbearance agreements to July 23, 2020. According to an 8K filed with the SEC, the forbearance agreements are under an ABL facility for which CIT Finance is serving as administrative agent and a term loan agreement for which Jefferies Finance is serving as administrative agent. The original forbearance agreements were dated as of June 15, 2020.
J.Jill is an omnichannel retailer and women’s apparel brand.
