Second Avenue Capital Partners closed a $20 million asset based credit facility for Fallas Stores, a new entity formed in the wake of National Stores’ bankruptcy.
Hilco Merchant Resources will manage the store closing process and run retail sales at 74 of 344 National Stores. The specific stores that will close currently operate under the brand name Fallas.
National Stores initiated a court-supervised restructuring with the support of its lenders and suppliers integral to the business. As part of the restructuring, the company will be closing 74 of its 344 stores.