Content about Credit

July 8, 2014

The American Apparel saga continues, with the beleaguered chain receiving a notice of default from its longtime lender, Lion Capital.

June 23, 2014

J. C. Penney Company announced today that it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan.

May 1, 2014

Pier 1 Imports (U.S.) Inc., a subsidiary of Pier 1 Imports Inc., has completed the amendment of its $350 million senior secured revolving credit facility and syndicated and closed a previously announced $200 million seven-year senior secured term loan B.

April 29, 2014

Eddie Bauer has signed a long-term renewal agreement with Alliance Data Systems Corp. to continue providing private label credit card services.

April 10, 2014

Ann Inc. has signed a long-term renewal agreement with Alliance Data Systems Corp. to continue providing private label and co-branded credit card services.

April 3, 2014

Guitar Center's total debt has been reduced by approximately $500 million and annual cash interest expense has been reduced by more than $70 million.

March 27, 2014

Social media sites are playing an increasingly important role in driving traffic to other websites, including retail websites and even other social networking sites, at the expense of search engines and portal websites, according to new research from Experian Research Services.

February 27, 2014

Goldman-Sachs Group, sole underwriter of a $400 million bridge loan supporting Jos. A. Bank’s tentative acquisition of Eddie Bauer, is reportedly postponing the loan.

January 2, 2014

The National Retail Federation Thursday formally filed an appeal of a controversial antitrust lawsuit settlement covering credit card swipe fees, asking the 2nd U.S. Circuit Court of Appeals to overturn a lower court’s ruling.

December 16, 2013

Analysis has uncovered a 46% increase in social networking referrals to top 500 retail websites during the most critical week of the year, just one of four key trends identified in a report by Experian Marketing Services.

December 16, 2013

GE Capital, Corporate Retail Finance said it is administrative agent on a $250 million senior revolving credit facility for regional sporting goods retailer Dunham’s Athleisure Corp.

December 13, 2013

Bon-Ton Stores has entered into an amendment to the company’s existing $675 million asset-based revolving credit facility that was scheduled to mature in March 2016.

December 13, 2013

The National Retail Federation issued the following statement from senior VP and general counsel Mallory Duncan in response to U.S. District Court Judge John Gleeson’s approval of a controversial antitrust lawsuit over credit card swipe fees:

December 11, 2013

Despite a number of economic factors that have shaken consumer confidence lately, including the government shutdown and continued high unemployment rates, retailers and manufacturers believe holiday sales will rise slightly compared to last year, according to Capital Business Credit, a non-bank lender that services the retail sector.

December 2, 2013

Hispanic adults are more frequently visiting retailer websites than the average online population, according to Experian Marketing Services.

November 8, 2013

Online coupon provider FatWallet predicts a larger selection and assortment of lower-priced Black Friday deals in 2013 as compared to the previous year.

October 17, 2013

RadioShack and Citi Retail Services announced a long-term agreement to extend their 28-year consumer credit relationship.

October 15, 2013

GE Capital Retail Bank announced a long-term extension of its private label and dual card credit program with J.C. Penney Co.

October 7, 2013

GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers.

October 3, 2013

For mid-size retail companies — those with anywhere from $10 million to $1 billion in revenue — the combination of today’s steady growth and affordable capital is rare indeed. There is also ample liquidity as traditional middle-market lenders are being joined by institutional investors with deep pockets and a strong desire to participate in these loans. What’s more, new products are available that give borrowers more flexibility. In short, it’s a near ideal environment for midsize company borrowers.

September 16, 2013

Sears Holdings Corp. on Monday said it plans to obtain a senior secured term loan facility of up to $1 billion to help lower borrowings under its revolving credit facility.

February 13, 2013

GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with J.C. Penney Co.

February 6, 2013

By Gary Glick, Cox, Castle & Nicholson LLP

January 11, 2013

The 2012 holiday shopping season didn’t provide the sales and traffic lift anticipated by retailers, according to Experian FootFall.

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