Gordon Brothers, the global asset experts, provided Toys“R”Us Canada C$120 million in financing consisting of a C$100 million first-lien revolving credit facility and a C$20 million first-in, last-out term loan to support ongoing borrowing needs._x000D_
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Additionally, the firm is assisting Toys“R”Us Canada’s store rationalization, encompassing both retail inventory and real estate, to support the specialty retailer of toys and baby consumer products’ go-forward strategy._x000D_
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“We have built and maintained a strong, tenured relationship with Toys“R”Us Canada and will continue our support with this latest full financing solution that ties together the entire capital structure and store rationalization component,” Kyle C. Shonak, senior managing director, head of North America lending at Gordon Brothers, said. “As we grow and expand our presence in Canada and our support of Canadian retailers and borrowers, we will continue to help businesses maximize liquidity with our integrated services and solutions-oriented approach.”_x000D_
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“Gordon Brothers has been an invaluable resource to us, and we engaged them on this latest financing because of their flexibility,” Doug Putman, founder of Putman Investments and owner of Toys“R”Us Canada, said. “As a constructive partner who truly understands our business, we can continue to ensure the longevity of the brand with their integrated support and partnership.”
Forward for Specialty Finance
