Marc S. Price, a former executive at Monroe Capital and Salus Capital Partners, joined PNC Business Credit as senior vice president, to head a newly established retail finance unit.
Monroe Capital said it has established a new business vertical, Retail and Consumer Products Asset-Based Lending. Andy Moser and Marc Price have joined the firm to co-head this new finance practice group.
Bloomberg reported what is lost in the tale of the inevitable decline and failure of RadioShack is how distressed lender Salus Capital Partners may have “helped sink the 94-year old retailer into bankruptcy.”
Women’s retailer Cache reportedly filed for Chapter 11 in Delaware. The Wall Street Journal said that Salus Capital Partners is providing a $22 million DIP facility.
Salus Capital reportedly offered RadioShack $500 million in bankruptcy financing, which could increase the lender’s influence if the struggling retailer ends up in Chapter 11.
Salus Capital Partners announced it has provided a $20 million DIP facility to dELiA*s. The financing will be used for working capital while the retailer operates under Chapter 11 protection.
dELiA*s said it entered into an agency agreement with Hilco Merchant Resources and Gordon Brothers Retail Partners to liquidate all merchandise owned by the company and to depose of certain assets.
Salus Capital Partners was recognized as Lower Mid-Market Lender of the Year at the 2014 Americas M&A Atlas Awards, hosted by the Global M&A Network.