Loehmann’s has secured a three-year, $35 million asset-based revolving credit facility with GE Capital, Corporate Retail Finance.
The deal, expected to be unveiled today, replaces the revolver held with CIT Group Inc. and takes some pressure off Loehmann’s parent company, Istithmar. Loehmann’s would have required additional support from Istithmar if the revolver didn’t come through.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)