Gordon Brothers

The Children's Place Announces Receipt of the $48.6 Million Second Tranche of the Previously Announced Interest-Free Unsecured Financing Provided by Mithaq Capital

Retrieved on: 
Monday, March 11, 2024

SECAUCUS, N.J., March 11, 2024 (GLOBE NEWSWIRE) --  —The Children’s Place, Inc. (Nasdaq: PLCE), an omni-channel children’s specialty portfolio of brands with an industry-leading digital-first model, today announced that it has received from its majority shareholder, Mithaq Capital SPC (“Mithaq”), the second tranche of interest-free, unsecured and subordinated term loan funding contemplated by the previously announced Unsecured Promissory Note, dated February 29, 2024, entered into between Mithaq and the Company, in the amount of $48.6 million (the “Second Mithaq Term Loan”). 

Key Points: 
  • As previously announced, Mithaq provided the initial tranche of $30 million to the Company pursuant to such Unsecured Promissory Note on February 29, 2024, also in the form of an interest-free, unsecured and subordinated term loan (the “Initial Mithaq Term Loan” and together with the Second Mithaq Term Loan, the “Mithaq Term Loans”).
  • On March 8, 2024, with the funding of the Second Mithaq Term Loan, the resignations from the Board of Norman Matthews, John E. Bachman, John A. Frascotti, Debby Reiner and Michael Shaffer have become effective and the size of the Board has been reduced to six.
  • Jane Elfers will continue to serve in her role as President, CEO and director of the Company.
  • The Company is also pursuing improved terms with Gordon Brothers as well as alternative financing on terms no less favorable in the aggregate to the Company.

Gordon Brothers Offering for Sale by Private Treaty Royal Falcon One Superyacht

Retrieved on: 
Monday, March 4, 2024

London, March 04, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is exclusively offering for sale by private treaty the Royal Falcon One superyacht.

Key Points: 
  • London, March 04, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is exclusively offering for sale by private treaty the Royal Falcon One superyacht.
  • Royal Falcon One was built in 2019 and is the world’s only luxury catamaran superyacht created by Studio F.A.
  • “Royal Falcon One presents a unique opportunity for the discerning buyer to acquire a one-of-a-kind catamaran under 500 gross tons,” said Oliver Veart, Director, Marine & Valuations at Gordon Brothers .
  • The firm provides advisory services including fleet and vessel renewal analysis, disposition and investment strategies.

Gordon Brothers Commits New Capital to Support KidKraft’s Liquidity & Exploration of Strategic Alternatives

Retrieved on: 
Wednesday, February 21, 2024

Boston, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has committed new capital to support KidKraft Inc.’s liquidity and continued exploration of strategic alternatives.

Key Points: 
  • Boston, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has committed new capital to support KidKraft Inc.’s liquidity and continued exploration of strategic alternatives.
  • The U.S. wholesaler of outdoor and indoor children’s playsets will continue to service its supply chain partners as it evaluates strategic alternatives with Gordon Brothers’ financing support.
  • “Additionally, utilizing Gordon Brothers’ consultant services and leveraging their consumer industry asset expertise will allow us to continue to drive stability for future success from both a capital and operations standpoint.”
    Gordon Brothers provides both short- and long-term capital to clients undergoing transformation.
  • Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations.

Gordon Brothers Provides $5M Operating Lease to Aerospace & Defense Solutions Provider

Retrieved on: 
Tuesday, February 13, 2024

Boston, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has provided a five-year operating lease to an Ohio-based aerospace and defense solutions provider for 15 late-model CNC machine tools worth more than $5 million.

Key Points: 
  • Boston, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has provided a five-year operating lease to an Ohio-based aerospace and defense solutions provider for 15 late-model CNC machine tools worth more than $5 million.
  • The provider will use the equipment in support of its precision manufacturing, fabrication and assembly services for the aerospace, defense and power generation industries.
  • “By delivering rapid liquidity solutions and hands-on support, we partner to help clients manage through operational challenges and market cycles to transform their businesses.”
    Gordon Brothers provides equipment financing solutions for clients with liquidity needs traditional banks and lenders cannot easily provide.
  • Our equipment finance and lease solutions leverage our deep industry expertise and extensive equipment knowledge.

Gordon Brothers Supports Kirkland’s Strategic Repositioning with $12M Term Loan

Retrieved on: 
Thursday, February 1, 2024

Boston, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is supporting Kirkland’s Inc.’s strategic repositioning efforts with a $12 million first-in last-out delayed draw term loan.

Key Points: 
  • Boston, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is supporting Kirkland’s Inc.’s strategic repositioning efforts with a $12 million first-in last-out delayed draw term loan.
  • When drawn, the U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand will use the loan to provide additional liquidity for ongoing working capital needs.
  • “Not only does the additional capital provide us with sufficient room to continue executing our strategic repositioning, but the financing was tailored to maximize value and give us flexibility going forward.”
    Gordon Brothers provides both short- and long-term capital to clients undergoing transformation.
  • Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations.

Gordon Brothers Engaged to Sell Zulily Inventory & Fulfillment Center Assets

Retrieved on: 
Tuesday, January 30, 2024

Boston, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.

Key Points: 
  • Boston, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.
  • The inventory available for sale includes nationally branded consumer products, including apparel, footwear, small appliances, beauty and housewares.
  • “This is a great opportunity to acquire a wide selection of well-known nationally branded fashion and home products inventory,” said Ulos Anderson, Senior Managing Director, Commercial & Industrial at Gordon Brothers .
  • Gordon Brothers leverages decades of experience buying, selling, operating and valuing assets in the industrial economy across Australia, Brazil, Canada, the U.K. and Europe, Japan and the U.S.

GETZLER HENRICH NAMES LAURENCE SAX MANAGING DIRECTOR

Retrieved on: 
Thursday, January 4, 2024

William H. Henrich, Co-Chairman of Getzler Henrich continued, "Boston is an important and growing market for Getzler Henrich. As a distinguished turnaround and operations improvement leader well-entrenched in the Boston market, we are thrilled to add Larry to our team. With his depth of knowledge and broad network of relationships-- both in Boston and across the US -- he will significantly help grow our services to meet the needs of our expanding client base."

Key Points: 
  • NEW YORK, Jan. 4, 2024 /PRNewswire/ -- Laurence Sax has joined Getzler Henrich & Associates LLC, ( getzlerhenrich.com ), one of the nation's oldest and most respected middle-market corporate restructuring and operations improvement firms, as a Managing Director in the firm's Boston office.
  • In announcing Mr. Sax joining Getzler Henrich, Joel I. Getzler, Co-Chairman of Getzler Henrich said, "We are pleased to welcome Larry to Getzler Henrich.
  • William H. Henrich, Co-Chairman of Getzler Henrich continued, "Boston is an important and growing market for Getzler Henrich.
  • Mr. Sax previously served as Chief Operating Officer/Senior Managing Director at Gordon Brothers in Boston; Senior Director: Turnaround & Restructuring Consulting and Interim Management at Alvarez & Marsal in Boston and New York City and Managing Director: Turnaround & Restructuring Consulting and Interim Management at NHB Advisors in Boston.

Gordon Brothers Facilitates Soft Surroundings’ Going Concern Sale to Coldwater Creek

Retrieved on: 
Tuesday, December 5, 2023

Boston, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, facilitated Soft Surroundings’ going concern sale to Coldwater Creek through the U.S. women’s clothing and accessories retailer’s filing of Chapter 11 bankruptcy in September.

Key Points: 
  • Boston, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, facilitated Soft Surroundings’ going concern sale to Coldwater Creek through the U.S. women’s clothing and accessories retailer’s filing of Chapter 11 bankruptcy in September.
  • Coldwater Creek, a U.S. women's apparel, accessories, shoes and home décor retailer, has acquired Soft Surroundings’ direct-to-consumer business allowing for the entire collection to continue online at softsurroundings.com and the preservation of jobs.
  • Gordon Brothers leveraged its integrated service offering to provide capital, expertise and guidance on the sale process prior to, during and post-bankruptcy, maximizing value for all stakeholders.
  • “In pursuing the acquisition of Soft Surroundings’ direct-to-consumer business, we greatly benefitted from Gordon Brothers’ partnership over the last few months, their expertise and all-encompassing, tailor-made solution,” said David Walde, Chief Executive Officer of Coldwater Creek.

Gordon Brothers Partners with Maynards Europe to Sell AURORA Lichtwerke’s Lamp Development & Manufacturing Plant Assets

Retrieved on: 
Wednesday, November 22, 2023

Cologne, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is partnering with Maynards Europe to sell by online auction AURORA Lichtwerke’s lamp development and manufacturing plant assets.

Key Points: 
  • Cologne, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, is partnering with Maynards Europe to sell by online auction AURORA Lichtwerke’s lamp development and manufacturing plant assets.
  • The site was previously a LEDVANCE production plant and prior to that a spin off from OSRAM that was part of Siemens AG.
  • “With the complete closure of the plant these assets are in high demand, and we are seeing significant global interest from established industry manufacturers.”
    “We’re excited to auction the assets from AURORA Lichtwerke, which was once the world’s largest lamp manufacturing site,” said Daniel Kroeger, Managing Director at Maynards Europe.
  • Gordon Brothers leverages decades of experience buying, selling, operating and valuing assets in the industrial economy across Australia, Brazil, Canada, the U.K., Europe, Japan and the U.S.

Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index

Retrieved on: 
Tuesday, November 21, 2023

WASHINGTON, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) , which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for October was $10.4 billion, down 8 percent year-over-year from new business volume in October 2022.

Key Points: 
  • WASHINGTON, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) , which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for October was $10.4 billion, down 8 percent year-over-year from new business volume in October 2022.
  • Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in November is 42.8, an increase from the October index of 40.1.
  • Origination activity for the year continues to be in acceptable ranges.”
    Dennis Bolton, Senior Managing Director, Head of Equipment Finance North America, Gordon Brothers , said, “All metrics continue to reflect the equipment finance industry’s stability and resilience.
  • While challenges remain, the industry is well positioned to manage these challenges and support continued equipment investment.”