Daily News: June 26, 2019

Rosenthal Closes $50MM Factoring Facility with Textiles Company

Rosenthal & Rosenthal completed a $50 million factoring deal, including a $15 million financing facility, for a New Jersey-based home textiles company.

After receiving new orders from a host of big box and other retail customers, the company required additional working capital to fulfill its expanding sales program, which included a rollout of a new product. As part of the deal, Rosenthal will provide factoring services, including credit and collections support, and fund the company’s working capital needs, as well as support growth in its e-commerce division.

Many home furnishings and textiles companies have recently witnessed a sharp downturn in sales volume in response to consolidation across the retail sector and overall retail performance.

“For more than 80 years, Rosenthal has been successfully helping businesses capitalize on growth opportunities when they arise,” said Joel Wolitzer, Rosenthal’s senior vice president of Business Development. “Rosenthal’s expertise helping clients overcome challenges and take advantage of new opportunities in this complex retail environment makes us uniquely positioned to lend our creativity and flexibility to support growing businesses in the home furnishings and textiles sector as well as other industries.”