FINANCE

Coldwater Creek announces new financing with Golden Gate Capital

BY Marianne Wilson

Sandpoint, Idaho — Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016.

“We are pleased to announce this strategic investment and partnership with Golden Gate Capital, which is a strong endorsement of our brand and turnaround strategy, and provides us with further financial flexibility to complete our near term business objectives and accelerate our growth plans,” said Dennis Pence, chairman and CEO of Coldwater Creek. “Golden Gate Capital brings a highly flexible investment approach and extensive retail expertise, which will be beneficial in the continued revitalization and long-term growth of Coldwater Creek.”

Neale Attenborough, Golden Gate’s retail group operating partner, will join the Coldwater Creek Board of Directors, in addition to another member, whose appointment will be announced at a later date.

“We look forward to working closely with Coldwater Creek’s talented management team as they return the Company to profitable long-term growth,” Attenborough said in a statement.

Golden Gate is one of the most active private equity investors in the retail and restaurants sector. Some of the firm’s retail portfolio companies include Eddie Bauer, J.Jill, Zales and Express. Over the last 12 months, Golden Gate has also announced investments in California Pizza Kitchen, Pacific Sunwear, and Payless ShoeSource (pending).

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P.Banik says:
Apr-10-2013 07:40 am

That is a huge amount of loan
That is a huge amount of loan they have been given. The kind of volatility that is clouding the market is making it impossible for the businesses to find the financial support they are looking for, however, they should continue to move ahead by summarising performances, and remodeling their business plans.

P.Banik says:
Apr-10-2013 07:40 am

That is a huge amount of loan they have been given. The kind of volatility that is clouding the market is making it impossible for the businesses to find the financial support they are looking for, however, they should continue to move ahead by summarising performances, and remodeling their business plans.

H.Hashimamlar says:
Oct-11-2012 05:00 pm

Working on the given topic is
Working on the given topic is really a difficult task but your this tutorial made it easy for me to handle it without any problem. If anyone seeking information then this blog is the best place for him as it has quality content for your required information. Thanks for sharing. William

H.Hashimamlar says:
Oct-11-2012 05:00 pm

Working on the given topic is really a difficult task but your this tutorial made it easy for me to handle it without any problem. If anyone seeking information then this blog is the best place for him as it has quality content for your required information. Thanks for sharing. William

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Premier Retail Networks nabs new COO

BY CSA STAFF

Martin Fry has joined Premier Retail Networks as chief operating officer, the company announced Monday.

Prior to joining PRN, Fry held a number of senior business positions at Grass Valley from 1995 to 2011, most recently serving as SVP and general manager for the switching and router solutions businesses. Fry was the executive in charge of the Grass Valley team that developed the Trinix NXT Multiviewer, and their efforts were honored with a TVB Europe Best of IBC 2011 Editors’ Award in the production and infrastructure category. His previous positions include principal scientist at Bayer Diagnostics (now Siemens Diagnostics) and engineering project manager at Philips Medical Systems.

“Martin brings extensive experience in operations, technology and business leadership to PRN,” said Ahmad Ouri, PRN president. “His expertise is a great asset to PRN, and I’m pleased to have him on our executive team and help execute our growth strategy.”

Fry holds a Bachelor of Science in physics with honors from the University Of Surrey, England, and completed graduate studies in biophysics and bioengineering at Imperial College in London.

PRN is a Technicolor company and a global leader in digital place-based media services that enable retailers and marketers to reach over 200 million consumers on a monthly basis in more than 9,100 locations in the U.S. PRN’s retail customers include Acme Markets, Albertsons, Associated Food Stores, BJ’s Wholesale Club, Costco, Jewel-Osco, Meijer, Pathmark, Sam’s Club, Shaw’s, ShopRite, Star Market, Target and Walmart. PRN also represents the in-venue networks located in a number of leading quick service restaurants. PRN’s programming alliances include major television networks and other media properties, as well as movie studios, record labels and magazine and newspaper publishers.

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Asda online unit identifies e-commerce solution

BY CSA STAFF

To help manage its rapidly growing e-commerce business, Walmart’s Asda division in the United Kingdom has selected multiple components of Manhattan Associates supply chain solutions portfolio known as SCOPE.

Asda Direct, the retailer’s general merchandise ecommerce operation, will deploy the supply chain solutions within several distribution centers across the United Kingdom and leverage the Manhattan Associates Supply Chain Process Platform.

“What we needed was a supply chain technology platform that would allow us to continue along the growth trajectory we’ve experienced in recent years,” said Paul Anastasiou, head of distribution for new business at Asda direct. “We also wanted a systems platform that would allow us to enhance the overall efficiency of our distribution processes and offer complete visibility of inventory throughout our operation. Finally we wanted a supply chain technology platform that could integrate with our core systems and support our growth and range expansion goals.”

Anastasiou said Asda chose Manhattan Associates because its systems met all of these requirements and the company’s people displayed an understanding of the Asda organization’s business challenges. The Manhattan technology will support a range of ordering and delivery options, which will extend as the deployment project progresses.

Asda Direct offers a wide range of general merchandise goods including electrical appliances, clothing, home furniture, toys, home entertainment products, garden and outdoor equipment and baby items. The business has experienced rapid growth in the four years since it was launched and further growth is expected in terms of sales and expansion of the product range, according to the company.

“While we will initially focus on deploying Manhattan’s Warehouse Management solution, the potential to implement additional, complementary, solutions from the Manhattan product suite, and what that gives us in terms of future flexibility and adaptability, was a big appeal to us,” said Rob Wilks, distribution systems manager.

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