ONE PRICE RECEIVES $4M
NEW YORK — In a step that will help the retailer take advantage of the high inventory levels of many stores and vendors, Gordon Brothers’ GB Retail Funding division on Tuesday said it has provided $4 million in financing to One Price Clothing Stores Inc.
The financing package for working capital needs will help the 640-unit retail chain acquire additional inventory for the peak spring season.
Leonard M. Snyder, One Price’s chairman and chief executive officer, said in a statement, “One of our key goals is to take advantage of the special buying opportunities that are currently available in the marketplace.”
The national specialty retail chain offers first quality, in-season apparel and accessories for men, women and children. The company has retail sites in 30 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands under the One Price & More! and BestPrice! Fashions brands.