Gordon Brothers provided a $10 million committed term loan to Tuesday Morning to increase the company’s liquidity and support its continued growth. Tuesday Morning will use the funds to refinance and pay off existing debt and for working capital purposes.
J.P. Morgan, Wells Fargo and Bank of America provided a $110 million asset-backed lending facility to Tuesday Morning in the company’s emergence from its Chapter 11 filing.
A&G Real Estate Partners delivered $1.68 billion in occupancy-cost reductions for 51 retailers, restaurants, educational users, office tenants and fitness and entertainment operators in the first nine months of 2020.
BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.
AlixPartners is serving as restructuring advisor and Miller Buckfire is serving as financial advisor to Tuesday Morning, which filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code.