Barneys New York has secured approximately $218 million in new financing from Brigade Capital Management and B. Riley Financial to facilitate a going concern sale process.
The Wall Street Journal reported Barneys New York has received approval from senior lenders Wells Fargo and TPG to request junior loans from Hilco and Gordon Brothers as it prepares to file for Chapter 11 protection.
Charlotte Russe Holdings and its subsidiaries entered discussions with prospective bidders for a going-concern sale of the company to continue its brick-and-mortar and online platforms.
Kansas-based salon and spa retailer Beauty Brands has filed for Chapter 11 in the wake of 25 store closures, according to the Kansas City Star.
Sterling Business Finance agreed to provide $737,000 in DIP financing to Gump’s, according to motions filed in the U.S. Bankruptcy Court for the District of Nevada.
Gump’s, the San Francisco-based, 157-year-old department store and retailer, filed voluntary petitions for relief under Chapter 11 in the U.S. Bankruptcy Court for the District of Nevada.
The CFA elected Thomas Greco to serve on its executive committee for fiscal year 2015. Greco and the other existing and newly elected board members comprised of key leaders in the commercial finance industry.
Hilco announced it completed the acquisition of the business and certain assets of entertainment retailer HMV. The business includes 141 stores, 25 of which had previously been slated for closure.
Hilco Appraisal Services announced the appointment of Thomas McNeely as SVP in Hilco’s enterprise valuation services group. McNeely will focus on new business development in financial reporting, financial opinions, business evaluations and corporate finance.