SB360 CAPITAL PARTNERS

In The News

All the latest SB360 headlines.

SECOND AVENUE CAPITAL PARTNERS CLOSES ON A SENIOR SECURED CREDIT FACILITY TO COS BAR

BOSTON, Massachusetts – March 18, 2021 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.

SECOND AVENUE CAPITAL PARTNERS PROVIDES A $6.5 MILLION DIP FACILITY TO SOLSTICE SUNGLASSES

BOSTON, Massachusetts – March 4, 2021 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) has provided $6.5 million in debtor-in-possession (“DIP”) financing to Solstice Sunglasses, the second-largest sunglass retailer in the United States. The DIP facility delivers supportive capital to Solstice as the retailer commences a restructuring.

WWD: A PARED DOWN FRANCESCA’S RESETS FOR THE FUTURE

By David Moin, as published in WWD February 16, 2021

There’s a rapidly evolving agenda at Francesca’s, now fresh out of bankruptcy with new owners.

To widen the customer base, a tween collection, called franki by francesca’s , rolled out to 100 Francesca’s stores the first week of February after debuting on francescas.com last December.

FRANCESCA’S COMPLETES SECTION 363 ASSET SALE TO FRANCESCA’S ACQUISITION, SB360 CAPITAL PARTNERS, AND TIGER CAPITAL GROUP

HOUSTON, Texas – February 1, 2021 – Francesca’s Holdings Corporation (the “Company”) and Francesca’s Acquisition LLC, an affiliate of TerraMar Capital LLC (“TerraMar”), today announced, after a fulsome auction and sale process under Section 363 of the United States Bankruptcy Code, that it completed the sale of substantially all of francesca’s® assets…

SB360 IS PROUD TO SUPPORT THE HOLIDAY DREAMS FOUNDATION

BOSTON, Massachusetts – December 12, 2020 – SB360 Capital Partners is proud to support charitable organizations and initiatives that make a positive impact at both a local and national level. This holiday season, SB360 has donated to the Holiday Dreams Foundation to help kids and families through this challenging year. In addition to a cash donation, SB360 donated sporting goods, apparel, and other Wishlist items.

THE M&A ADVISOR: AARON S. MILLER NAMED A RECIPIENT OF EMERGING LEADERS AWARD

NEW YORK, December 4, 2020 – In the spirit of hope and celebration during a period of economic uncertainty, The M&A Advisor is pleased to announce winners of the 11th Annual Emerging Leaders Awards. Renowned globally for its recognition of leading M&A, financing, and turnaround professionals, The M&A Advisor created this awards program to honor the emerging leaders of our industry…

JUSTICE COMMENCES TOTAL INVENTORY BLOWOUT SALES IN 85 LOCATIONS AND ONLINE

BOSTON, Massachusetts – November 13, 2020 – SB360 Capital Partners, one of the country’s leading asset disposition specialists, announced the start of “Total Inventory Blowout” sales in 85 Justice stores as well as the e-commerce site at www.shopjustice.com. SB360 will be the exclusive consultant to assist Justice as they conduct these sales.

SB360 CAPITAL PARTNERS TO ASSIST PET VALU, INC. WITH WIND DOWN OF ALL U.S. BASED STORES

BOSTON, Massachusetts – November 5, 2020 – SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant…

PET VALU U.S. TO WIND DOWN OPERATIONS DUE TO COVID-19

WAYNE, Pennsylvania – November 4, 2020 – Pet Valu, Inc. (“Pet Valu U.S.”), a specialty retailer of pet food and supplies in the United States, today announced plans to commence a wind down of its operations due to severe impact from COVID-19. The Company expects that all of its 358 stores and warehouses in the Northeastern and Midwestern U.S., as well as…

JUSTICE COMMENCES STORE CLOSING SALES IN 23 ADDITIONAL LOCATIONS

BOSTON, Massachusetts – September 24, 2020 – SB360 Capital Partners, one of North America’s leading asset disposition specialists, announced that it commenced store closing sales in an additional 23 Justice stores located in 13 states.

Justice is a destination store for tween girls and the store closing sales in the 23 Justice stores will feature great deals on all products.

SUR LA TABLE STORE CLOSING SALES UNDERWAY AT 17 LOCATIONS ACROSS THE U.S.

LOS ANGELES, September 11, 2020 – B. Riley Financial, Inc.’s (NASDAQ:RILY) (“B. Riley”) Great American Group, SB360 Capital Partners and Tiger Capital Group today announced that store closing sales started August 28th at an additional 17 Sur La Table retail locations across the United States.

STEIN MART TO CLOSE 279 LOCATIONS THROUGH GOING OUT OF BUSINESS SALES

CHICAGO, Illinois – August 13, 2020 – On August 12, 2020, Stein Mart filed for Chapter 11 reorganization and authorized going out of business sales by a joint venture comprising Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners. The sale process is underway at all 279 Stein Mart locations across the U.S.

ASCENA ENGAGES SB360 CAPITAL PARTNERS AS CONSULTANT TO CONDUCT STORE CLOSING SALES ACROSS BRANDS

BOSTON, Massachusetts – July 24, 2020 – Ascena Retail Group, Inc. (Nasdaq: ASNA) (“ascena” or the “Company”), a leading national specialty retailer for women’s and girls’ apparel, and SB360 Capital Partners, one of North America’s leading asset disposition specialists, today announced the commencement of store closing sales in all Catherines stores, a significant number of Justice stores, and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores.

GOING OUT OF BUSINESS SALES RESUME AT 107 MODELL’S SPORTING GOODS LOCATIONS

NEW YORK, New York – June 25, 2020 – With retailers resuming in-store operations following the months-long COVID-19 pause, shoppers from across the Northeast and Mid-Atlantic will find liquidation discounts on top-name sporting goods, footwear and apparel brands as Modell’s Sporting Goods resumes going-out-of-business sales at 107 of its remaining stores, beginning immediately.

THE POST-COVID NEW NORMAL FOR STORE CLOSING AND STRATEGIC SALE EVENTS

Scott Bernstein, Co-President of SB360 writes about “Luring Retail Shoppers Back to Store Closing Sales in the Age of COVID-19”

Liquidation sales are, by design, loud and fast moving events structured to attract as many customers as possible for the purpose of selling as much merchandise as possible in the shortest possible time. Suffice to say that the continued practice of social distancing will likely not be compatible with a successful store closing sale.

WWD: AMERICAN EAGLE OUTFITTERS BEGINS REOPENING STORES

By Kellie Ell and Jean E. Palmieri, as published in WWD May 7, 2020

American Eagle Outfitters is reopening for business in select locations — although for now, things will look a little different.

“People do want to go out, but they want to do it in a way where they feel safe,” Jay Schottenstein, executive chairman of the board and chief executive officer of American Eagle Outfitters Inc., told WWD.

SECOND AVENUE CAPITAL PARTNERS PROVIDES A $17 MILLION CREDIT FACILITY TO CROWN & CALIBER

BOSTON, Massachusetts – April 21, 2020 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $17,000,000 senior secured credit facility to Crown & Caliber, an online marketplace leader in authenticated pre-owned luxury watches. The credit facility will be used to support growth opportunities and provide additional working capital.

SB360 DONATES KN95 MASKS TO BETH ISRAEL LAHEY HEALTH

BOSTON, Massachusetts – April 10, 2020 – As new cases of the coronavirus are reported each day, the need for personal protective equipment for medical personnel and first responders is becoming increasingly critical. As a response to the crisis, SB360 has donated 22,000 FDA-approved KN95 respirator masks to Beth Israel Lahey Health.

SB360 CAPITAL PARTNERS ADDS NEW HIRES AS GROWTH AND EXPANSION CONTINUE

BOSTON, Massachusetts – February 25, 2020 – SB360 Capital Partners, one of North America’s leading asset realization and advisory firms, is pleased to announce two new additions to our team of professionals in the Boston corporate office. Adam Milton joins SB360 as a Senior Financial Analyst, and Tiffany Arredondo joins SB360 as Assistant Vice President of Corporate Development.

OLYMPIA SPORTS SELECTS SB360 AS EXCLUSIVE AGENT TO CONDUCT CLOSING SALE FOR 76 STORES

WESTBROOK, Maine – October 31, 2019 – Olympia Sports, the prominent Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer JackRabbit, will continue to operate…

SECOND AVENUE CAPITAL PARTNERS IS CO-AGENT FOR $40 MILLION FACILITY TO JACKRABBIT

BOSTON, Massachusetts – October 29, 2019 – Second Avenue Capital Partners LLC (“SACP”) and Crystal Financial LLC (“Crystal”) announced the closing of a $40,000,000 Senior Credit Facility for JackRabbit (“JackRabbit” or the “Company”), a leading omni-channel retailer of athletic footwear, apparel, and accessories owned by affiliates of CriticalPoint Capital (“CPC”).

FRED’S INC. TAPS SB360 AS EXCLUSIVE CONSULTANT TO CONDUCT CLOSING SALES IN REMAINING 81 STORES

BOSTON, Massachusetts – September 11, 2019 – Fred’s Inc., a discount value retailer, has once again tapped SB360 Capital Partners as their exclusive consultant to conduct Store Closing Sales in all 81 remaining Fred’s locations. SB360 Capital Partners, one of North America’s leading asset disposition specialists, has closed 442 Fred’s locations since April of this year.

SECOND AVENUE CAPITAL PARTNERS IS CO-AGENT FOR $16 MILLION FACILITY TO MAROLINA OUTDOOR

BOSTON, Massachusetts and SAN FRANCISCO – August 13, 2019 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com), and White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, have closed on a $16,000,000 asset-backed revolving credit facility for Marolina Outdoor, Inc., a Charleston, SC based apparel company.

SB360 AND HILCO TO CONDUCT GOING OUT OF BUSINESS SALES AT ALL 54 A’GACI STORES

SAN ANTONIO, Texas – August 8, 2019 – A’GACI, an innovator in the fast fashion apparel industry since 1971, is closing all 54 stores in the US and Puerto Rico. A’GACI filed for Chapter 11 Bankruptcy protection this morning and retained a joint venture of SB360 Capital Partners and Hilco Merchant Resources to liquidate the stores.

SECOND AVENUE CAPITAL PARTNERS IS CO-AGENT FOR $35 MILLION FACILITY TO CHARMING CHARLIE

BOSTON, Massachusetts and SAN FRANCISCO – April 18, 2019 – Second Avenue Capital Partners, LLC “(SACP”) (www.secondavecp.com), and White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced today the closing of a $35,000,000 asset-backed revolving credit facility for Charming Charlie.

SB360 TO CONDUCT STORE CLOSING SALES AT CERTAIN FRED’S STORES THROUGHOUT THE SOUTHEAST

BOSTON, Massachusetts – April 11, 2019 – SB360 Capital Partners (www.sb360.com), one of North America’s leading asset disposition specialists, has been retained as the exclusive consultant to conduct “Store Closing” Sales and other clearance events for Memphis based Fred’s Inc., a discount value retailer with 557 stores throughout the Southeast.

CHARLOTTE RUSSE STORES RECEIVING FINAL SHIPMENTS AS STORES WRAP UP GOB SALE

SAN FRANCISCO, California – March 20, 2019 – The final shipments of fresh new spring Charlotte Russe merchandise are arriving in stores this week. As the Charlotte Russe stores head into their last 10 days of a “Going Out of Business” sale, associates are getting the new arrivals processed and pushed directly to the selling floor.

SB360 TO CONDUCT GOING OUT OF BUSINESS SALES AT ALL 416 CHARLOTTE RUSSE STORES

SAN FRANCISCO, California – March 7, 2019 – After 44 years, fast-fashion retailer Charlotte Russe is going out of business and closing all of the company’s remaining 416 store locations. A U.S. Bankruptcy Court judge in Delaware approved an order naming SB360 Capital Partners (www.sb360.com) as agent for the liquidation.

SECOND AVENUE CAPITAL PARTNERS PROVIDES $20 MILLION SECURED FACILITY TO THE NEW FALLAS STORES

BOSTON, Massachusetts – November 27, 2018 – Second Avenue Capital Partners, LLC, (www.secondavecp.com) announced the closing of a $20,000,000 asset based credit facility to help fund the purchase and on-going working capital needs of a new entity under the banner of Fallas Stores. This new facility was integral to closing a transaction for the purchase of 85 stores

TOWN SHOES CANADA TAPS SB360 CAPITAL PARTNERS TO CONDUCT CLOSING SALE

TORONTO, Ontario – November 8, 2018 – Town Shoes Canada, a trend setting mid-luxury footwear retailer, has retained SB360 Capital Partners LLC (www.sb360.com), to assist in the closure of all 28 stores operating as Town Shoes and the Town Shoes ecommerce platform. Ohio based DSW Inc., parent company of Town Shoes Limited, announced earlier this year…

ABG PARTNERS WITH JAY SCHOTTENSTEIN TO PREVAIL AT THE THOMASVILLE AND BROYHILL AUCTION

NEW YORK, New York – October 19, 2018 – Authentic Brands Group (ABG), a global brand owner, marketing, and entertainment company, today announced that it has joined with Jay Schottenstein to emerge as the successful bidder to purchase the intellectual property of Heritage Home Group LLC in an auction conducted under Section 363 of the U.S. Bankruptcy Code.

STORE CLOSING SALES BEGIN IMMEDIATELY AT 184 SELECT NATIONAL STORES

NORTHBROOK, Illinois – October 12, 2018 – National Stores will begin a store closing sale at 184 of its remaining locations today. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners. The specific stores that will be closing are currently branded as Fallas and Factory 2-U stores.

SB360 CAPITAL PARTNERS CHOSEN TO CONDUCT STORE CLOSING SALES FOR THOMASVILLE & CO.

BOSTON, Massachusetts – September 14, 2018 – SB360 Capital Partners LLC (SB360), one of North America’s leading asset realization firms, has been chosen by Heritage Home Group LLC (HHG) to assist HHG in conducting sales of the inventory from their Thomasville & Co., and Broyhill business units. Thomasville & Co. includes the Thomasville brand, Drexel, and Henredon.

SECOND AVENUE CAPITAL PARTNERS CLOSES CREDIT FACILITY WITH TOMMIE COPPER

BOSTON, Massachusetts – May 16, 2018 – Second Avenue Capital Partners, LLC, (SACP) announced it has provided a senior secured credit facility to Tommie Copper, the innovative authority in creating premium patented copper compression products. The credit facility will be used to fund working capital and additional growth opportunities.

SECOND AVENUE CAPITAL PARTNERS LAUNCHES LENDING PLATFORM

BOSTON, Massachusetts – April 16, 2018 – Second Avenue Capital Partners, LLC, (www.secondavecp.com) announces its formation as a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Established by SB360 Holdings, Second Avenue is a Schottenstein Affiliate.

JUDGE APPROVES ORDER TO LIQUIDATE ALL NINE WEST CANADA STORES

(TORONTO, Ontario) – April 13, 2018 – A Canadian Bankruptcy Court judge issued an order Wednesday approving the liquidation of assets and the closing of all 35 locations of Nine West Canada. Nine West Canada LP and its General Partner Jones Canada, Inc. (together, “Nine West Canada” or the “Company”) each had previously filed a Notice of Intention to File a Proposal (“NOI”).