Gordon Brothers provided a $10 million committed term loan to Tuesday Morning to increase the company’s liquidity and support its continued growth. Tuesday Morning will use the funds to refinance and pay off existing debt and for working capital purposes.
Tuesday Morning, a publicly traded off-price retailer of housewares, home furnishings and seasonal décor, will use the funds to refinance and pay off existing debt and for working capital purposes.
“Tuesday Morning’s veteran leadership team successfully navigated a pandemic-driven downturn and initiated a recovery plan to support Tuesday Morning’s transformation to a true off-price retailer,” Kyle C. Shonak, head of lending, North America at Gordon Brothers, said. “We’re thrilled to deliver the capital needed to achieve continued resiliency for the company.”
“Gordon Brothers’ team of experts has been an invaluable resource to us,” Jennifer Robinson, CFO at Tuesday Morning, said. “With their support, we have improved our liquidity and were able to repurchase $5 million of our higher interest rate term loan.”
