By  on April 30, 2014

BCBG Max Azria Group is in transition mode.

The company has been trying to restructure its $685 million in debt for nearly a year. Guggenheim Partners holds about $475 million of the debt, with $230 million on a first-lien term loan and $245 million on a second-lien term loan. The balance was drawn down from a revolving credit facility. Talks last year included a refinancing that would convert the debt into equity, and that would have Guggenheim taking control of the company.

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