Encina Business Credit promoted Tron Allen to chief commercial officer. Rob McMahon, who was serving as interim chief commercial officer for the company, will return to his prior role as chief operating officer at Encina Capital Partners.
Encina Business Credit upsized an existing asset-based revolving credit facility from $25 million to $73.5 million for a government services company.
American Apparel isn’t the only youth-oriented retailer that sought Chapter 11 protection in 2016, but its story is the most dramatic. Its first bankruptcy proceedings included a failed battle by ousted Founder and CEO Dov Charney to regain control. Six months after exiting Chapter 11, the company was back in bankruptcy with $30 million DIP financing from Encina Business Capital and a $66 million stalking horse bid from Canadian underwear manufacturer, Gildan. Is this American Apparel’s last stand?