99 Cents Only Stores is commencing going-out-of-business sales at all of its locations. Hilco Global is managing the liquidation event, and Jefferies and Hilco Global are managing the sale of the company’s real estate assets.
Hilco Real Estate Finance is expanding its team by hiring Charlie Job as an associate. Job started his career at NatWest Markets before joining Arrow Global, where he worked on distressed and special situations credit and equity investments across Europe.
Sheon Karol joined the Hilco corporate finance team. Karol will serve as managing director in corporate finance/special situations.
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.
Staples reached an agreement to sell its UK retail business and operations to Hilco Capital for nominal proceeds.