The Talbots Inc. secured a new $75 million term loan, boosting its liquidity as the retailer searches for a replacement for president and chief executive officer Trudy Sullivan and considers its strategic options, which could include a sale of the firm.
The new term loan was led by Wells Fargo Bank and is secured by a first lien on some of the retailer’s real estate and on its intellectual property, equipment and fixtures, as well as a second lien on the rest of its assets. It carries an interest rate equal to 10 percent plus the London Interbank Offered Rate. Talbots also amended its $200 million secured revolving credit facility with GE Capital.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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