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FINANCE

  • J.Crew clinched lenders’ consent to amend loan

    J. Crew just bought itself some more time with its lenders.   Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.  

  • Canadian retailer prepares for bankruptcy

    Sears Canada could file for Chapter 11 sooner than expected.   The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.  

  • TJX Cos. bucks retail’s store closure trend

    As a number of traditional chains across the industry continue to struggle, TJX Cos. is being called one of the country’s fastest growing retailers.   Traditional retailers industry-wide are blaming shifting consumer tastes, digital options and new competitors for not only stealing their wallet share, but for declining foot traffic and related sales. However, this could not be farther from the truth for TJX Cos.  

  • Whole Foods Markets CEO expects Amazon deal to evolve the brand

    The ink is barely dry on Amazon’s acquisition of Whole Foods Markets, yet the natural grocer’s CEO implied that “big ideas” are already in the works.  

  • Target extends its investment in online retail disruptor

    Fast-growing mattress retailer Casper has closed on a new round of funding — with help from Target Corp.   

  • Lululemon in investment, partnership with cycling apparel startup

    lululemon athletica is thinking outside its core athleisure category.   

  • J. Crew clinches lender support to trim debt load

    J. Crew is entering into a deal that it expects will put it one step closer to improving its business.   The fashion retailer has won the support of more than 50% of its term loan holders to trim its $2 billion debt load and end intellectual property litigation. This was according to sources familiar with the situation, according to Reuters.  

  • Walmart doubling down on fashion with Bonobos acquisition

    Walmart is buying the hot men's clothing company Bonobos for $310 million in cash.    The move is in keeping with Walmart's recent efforts to beef up its online offerings and widen its appeal by buying digitally native brands that target millennials and younger consumers. Founded online in 2007, Bonobos has expanded its assortment over the years and has also opened 35 brick-and-mortar stores ("Guideshops"). It also has a partnership with Nordstrom.   
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