With acquisition financing provided by Tiger Capital Group, the brand-investment platform Go Global Retail has completed its purchase of digitally native fashion retailer ModCloth from Walmart Stores.
The Securities and Exchange Commission charged Walmart with violating the Foreign Corrupt Practices Act. Walmart agreed to pay more than $144 million to settle the case.
The New York Times reported a resurgence in the retail industry among companies that have learned their lessons from Amazon’s success and are adapting.
Walmart completed a stock purchase that will make it the largest shareholder in India’s Flipkart Group. JPMorgan and Barclays provided financing to support the transaction.
Tiger Capital Group provided $5 million in special project financing to Epoca International, the sole license holder of Walmart’s Tasty Housewares product lines.
JPMorgan and Barclays are leading $5 billion in debt financing to support Walmart’s investment in India’s Flipkart e-commerce group.
Green Dot Corporation said its subsidiary bank, Green Dot Bank, received regulatory approvals to acquire the Walmart MoneyCard Portfolio from GE Capital Retail Bank.
Dramatic shifts in the retail grocery business continue to create opportunities for asset-based lenders and private-equity investors, a Tiger Group expert noted in a Sept. 12 panel discussion with colleagues.
Given what Spence Mehl calls “a bloodbath of bankruptcies” in the retail space in 2008 and 2009, last year brought surprisingly fewer bankruptcies than most had anticipated. And while bankruptcy still loomed heavily for nearly all the big chains in 2010, the difference was that retailers themselves executed their own top-to-bottom restructuring plans. But, Mehl warns, retailers aren’t out of the woods yet.