Tuesday Morning in new, improved credit deal
-- Home Textiles Today, 12/17/2008 2:14:00 PM
Dallas – Closeout chain Tuesday Morning has entered into a new, five-year, $150 million senior secured revolving credit facility with Bank of America, N.A. as administrative agent and Wells Fargo Retail Finance, LLC as joint lead arranger.
The new facility, said the 851-store retailer, “provides the company with more availability and liquidity” than the previous one, “and does not have financial covenants.”
Kathleen Mason, president and ceo, said, “Securing a new credit facility which provides us with greater flexibility than our previous facility is a testament to the strength of our balance sheet. We believe that this facility represents a competitive advantage in this challenging retail environment and should give greater confidence to our shareholders and vendor partners that we are well positioned to weather the current economic storm.”
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...