Gordon Brothers, the global asset experts, has provided Linen Chest a C$35 million revolving credit facility to increase the Canadian home goods and accessories omni-channel retailer’s liquidity and support future growth.
Additionally, the firm will provide a vendor support program to ensure Linen Chest’s continued operations and go-forward strategy.
“Having grown and expanded our network in Canada and our support of proud Canadian retailers like Linen Chest, our financing will not only increase the company’s liquidity, but our deep asset expertise, retail background and additional service offerings will improve overall efficiency,” said Kyle Shonak, Chief Transaction Officer at Gordon Brothers. “Going forward, we will continue todeliver comprehensive lending solutions with our integrated services that align with long-term strategy and growth in the Canadian market.”
“As a family-owned business, Linen Chest values partnerships with firms like Gordon Brothers who understand our history in the market and support our long-term vision,” said Sheldon Liebner, CEO and Co-Owner of Linen Chest. “The firm’s solution provides us with the resources and flexibility needed to continue delivering value to our customers across Canada.”
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide solutions to clients beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm’s tailor-made solutions coexist with traditional debt and equity, and its structures complement senior asset-based lending facilities with credit and yield enhancements.
