Omnichannel retailer and women’s apparel brand J.Jill announced a number of actions in response to the continued spread of COVID-19, including a draw down of $33 million from its $40 million secured revolving credit facility with CIT Finance as administrative agent. The credit facility expires in May 2023.
In addition, the company will close all stores through March 27 and has withdrawn guidance for the Q1/2020 and the full fiscal year. The company also has asked employees to work from home and said it plans to continue to pay and, if applicable, provide benefits to employees.
“Our employees, our customers, and the communities that we serve have always been our top priority,” James S. Scully, interim CEO of J. Jill, said. “We feel strongly that the actions taken today will help keep our broader brand community safe, and we look forward to bringing them all back together in person soon.”
