Gordon Brothers served as the agent for a $150 million debtor-in-possession term loan for Big Lots Inc.
The U.S. closeout retailer focused on value will use the DIP loan during ongoing Chapter 11 bankruptcy proceedings to support the going-concern...
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October 29, 2024, 06:50 AM
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Gordon Brothers has forecasted U.S. retail sales for this upcoming holiday season predicting a modest increase of 1.2% to 3.5% relative to last year amid economic and political uncertainty. While certain economic indicators are looking up, including...
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September 27, 2024, 06:54 AM
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Gordon Brothers provided a revolving credit facility to support S5 Equity’s acquisition of Hammacher Schlemmer.As part of the acquisition, S5 Equity plans to strengthen the 170-year-old catalog retailer’s customer experience and loyalty while...
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September 09, 2024, 06:45 AM
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CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as agent on a $65 million revolving credit facility for Everlane, Inc., a leading retailer of sustainable apparel, accessories and footwear in the U.S. Founded in 2011 and based...
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September 16, 2022, 07:18 AM
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Adapting to ongoing shifts in consumer behavior is key to recovering asset value, advises Michael McGrail in Q&A with ABL Advisor. Retailers’ store-closing and going-out-of-business sales are performing better than expected—especially in categories...
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October 26, 2020, 07:05 AM
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Retail bankruptcies to date have largely been the result of the changes in the retail industry and evolution of customer preferences, high-risk LBO structures and terrible store merchandising, according to an article in the November ABI Journal....
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December 04, 2017, 07:00 AM
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BankruptcyData released its Q2 2017 Business Bankruptcy Filings Report, which indicates that the Retail, Services and Finance/Insurance/Real Estate sectors increased their percentages of overall business bankruptcies during Q2 2017, compared to the...
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July 18, 2017, 07:18 AM
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As the industry continues to struggle, the number of retailers filing for bankruptcy keeps growing, and 2017 could end up with the highest number of retail bankruptcies ever. That's the assessment of a new report from BankruptcyData.com that compiles...
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June 23, 2017, 07:22 AM
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The future of a defining feature of 1980s Americana is under threat thanks to sweeping distress in the retail sector. According to a research note from Credit Suisse, up to a quarter of the nation’s retail malls will close in the next five years as...
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June 02, 2017, 07:26 AM
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Equipment Finance Advisor Exclusive: Distress in the brick and mortar sector led to a surge in retail bankruptcies in the first three months of 2017, with retailers accounting for 48% more filings than the same period last year.That’s according to a...
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April 19, 2017, 07:27 AM
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According to the 8th annual CIT Retail Outlook, 80% of middle market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent...
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November 23, 2016, 07:02 AM
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The retail industry is going through a form of evolution, maybe even a revolution. E-commerce has changed the way retailers sell, so that the major brick-and-mortar companies are looking at their individual stores, potentially closing what they...
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July 08, 2016, 07:12 AM
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GE Capital, Corporate Finance announced it is serving as lead arranger on a $180 million senior secured credit facility for Arbor Investments, a Chicago, IL-based food and beverage private investment firm. The financing will be used to acquire a...
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December 28, 2015, 06:49 AM
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As the economic recovery gains speed, the consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. These insights and more are shared by three CIT...
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February 19, 2015, 06:52 AM
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An annual retail outlook study of more than 250 senior middle market retail executives conducted by CIT Group found cautious optimism among respondents. Fifty-five percent of executives anticipate their total holiday sales will increase by 6% or more...
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November 21, 2014, 07:02 AM
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CIT Group announced that it provided financing to Wakefern Food Corp., the largest supermarket cooperative in the United States. Wakefern is the principal supplier of food and non-food products to member-owned supermarkets that trade under the...
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October 09, 2014, 06:54 AM
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CIT Group announced that it provided a senior secured credit facility to support Rosser Capital Partners’ significant investment in PetPeople, a specialty retail pet supply store that focuses on high quality, natural pet food. Financing was provided...
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July 29, 2014, 05:53 AM
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According to a regulatory filing, General Electric Company (GE) announced that it intends to pursue an initial public offering (IPO) of its North American Retail Finance business (Retail Finance) as a first step in a staged exit from that business....
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November 18, 2013, 07:09 AM
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According to the research study “Taking Stock in Tough Times: U.S. Retail Sector Outlook,” produced by CIT Group with Forbes Insights, more than a third (37%) of middle market retail executives believe their holiday sales will increase over 2011...
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November 15, 2012, 07:00 AM
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GE Capital Retail Bank and The Toro Company recently announced a multi-year extension of their exclusive private label credit card program. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers and...
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November 08, 2012, 07:07 AM
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According to the third annual Retail Finance Outlook study released by CIT Group Inc., 80% of retail executives expect their holiday sales to increase or remain the same as last year.
“In what has been an otherwise mixed season thus far, retailers...
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November 22, 2011, 06:00 AM
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