Gordon Brothers to support Kirkland’s growth strategy with real estate services
Home décor and furnishings retailer Kirkland’s is ready for its next stage of store growth following the payoff of the firm's $12 million term loan.
Kirkland’s has retained Gordon Brothers for lease renewal services and new store site selection. The move comes as the retailer has launched a new partnership with Beyond Inc., owner of Bed Bath & Beyond, Overstock, Zulily and other online retail brands. Additionally, Beyond has invested in Kirkland’s to support future collaborations — including the launch of new Bed Bath & Beyond small-format retail stores — as its exclusive brick-and-mortar operator and licensee.
“Gordon Brothers was an integral partner in our transformation efforts, and we’re looking forward to continuing our partnership with the real estate team,” said Mike Madden, CFO of Kirkland’s Home.
Gordon Brothers will provide real estate consulting services to support Kirkland’s collaborations and assist with the retailer’s growth strategy across brands.
“We’re thankful for the opportunity to invest in Kirkland’s and would like to congratulate the industry leader on its investment from and strategic alliance with Beyond,” said Kyle C. Shonak, senior managing director, transaction team & head of North America lending at Gordon Brothers. “In addition to leveraging our deep asset expertise to provide Kirkland’s with financing to pursue its strategic initiatives, our real estate team’s cutting-edge technology platform will provide the customized service offerings needed to achieve this next phase of growth.”
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
