Published: Feb. 16, 2024 at 8:45 a.m. ET
By Will Feuer
Specialty retailer Children’s Place said it has reached a deal for a $130 million term loan from investment firm Gordon Brothers.
Children’s Place Chairman Norman Matthews is also on the board of Gordon Brothers, which is privately held. The companies have entered into a non-binding term sheet, but consummation of the deal is…
By Will Feuer
Specialty retailer Children’s Place said it has reached a deal for a $130 million term loan from investment firm Gordon Brothers.
Children’s Place Chairman Norman Matthews is also on the board of Gordon Brothers, which is privately held. The companies have entered into a non-binding term sheet, but consummation of the deal is still contingent on due diligence by Gordon Brothers and other factors.
Children’s Place said it will use the proceeds from the term loan to repay its existing $50 million term loan under its amended and restated credit agreement with a consortium of banks. The company will also reduce some of its accounts payable balances with vendors.
Children’s Place said it is still working with advisers to explore strategic alternatives for the company.
Write to Will Feuer at Will.Feuer@wsj.com
