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  • Kohl's Cuts 250 Jobs While Arguing That it is Operating From 'a Position of Financial Strength'
    February 13, 2020
    Kohl's is eliminating 250 roles, including an entire "layer" of regional-store leadership, according to a report from the Milwaukee Journal Sentinel.
  • New Podcast About Successful Business Leaders from HPS Investment
    February 13, 2020
    Leading global investment firm, HPS Investment Partners, has launched a new podcast series, The HPScast. The new series focuses on the careers of successful business leaders including: co-founder of Alvarez and Marsal, Brian Marsal, former Soulcycle CEO Melanie Whelan, and cable and media legend, Leo Hindery.
  • Investors Bank Appoints Andy Phelps To New Position in the Healthcare Lending Group
    February 13, 2020
    Investors Bank’s Healthcare Lending Group has appointed James Andrew “Andy” Phelps to the position of Senior Vice President. Mr. Phelps, who will report to the Healthcare Lending’s Founder and Senior Vice President James Vincenti, will be a member of the team that is introducing a new line of innovative banking products and services for healthcare providers. Mr. Phelps will be responsible for developing, managing and growing a portfolio of loans serving the national healthcare sector.
  • Encina Business Credit, LLC Announces the Closing of a $50 Million New Money DIP Facility for The McClatchy Company
    February 13, 2020
    Encina Business Credit, LLC (“EBC”) announces the completion of a $50.0 million revolving credit facility for The McClatchy Company (“McClatchy”). The facility was used to refinance McClatchy’s pre-petition, asset-based revolver and support their working capital needs during bankruptcy. The facility is also structured to automatically convert to an exit financing upon meeting certain criteria.
  • Sallyport Commercial Finance Structures a Credit Facility for a Plant Nursery in North America
    February 12, 2020
    Sallyport Commercial Finance supplies a $1,300,000 accounts receivable facility to a wholesale distributor of plants and flowers. The company needed additional working capital to fulfill large orders. They were referred to Sallyport by a broker who has worked with us in the past and felt confident that we could provide a structured solution to support their growth.
  • Stage Stores Reportedly Eyeing Bankruptcy
    February 12, 2020
    The retailer is preparing for a financial restructuring that could include a bankruptcy filing, reported The Wall Street Journal. According to the report, Stage Stores has been late in paying its vendors amid a cash crunch. Stages Stores has brought on the investment bank and financial services firm Peter J Solomon and law firm Kirkland & Ellis as it looks to refinance its bank debt, according to the report.
  • Allied Motion Secures New $225 Million Credit Facility
    February 12, 2020
    Refinancing expands borrowing capacity nearly 30%, reduces cost of debt and enhances flexibility to drive growth strategy
  • Winter Harbor Announces New Senior Director and Senior Managers
    February 12, 2020
    Winter Harbor LLC, a national restructuring and turnaround firm, announced Kurt Hedderich has been promoted to senior director and Matt Czerkowicz and Matt Dalton have both been promoted to senior manager.
  • SG Credit Provides $2.0 Million to Enterprise SaaS Company
    February 12, 2020
    SG Credit provided the Company with a bifurcated loan structure consisting of a $1MM interest-only loan to refinance the existing debt and a $1MM term loan to finance the Company’s growth initiatives.
  • KKR Closes $1.3 Billion Global Impact Fund
    February 12, 2020
    KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.
  • TAB Bank Provides Technology Company in California with a $2.5 Million Revolving Credit Facility
    February 12, 2020
    TAB Bank is pleased to announce it has provided a $2.5 million revolving credit facility for a technology company based in in California. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs
  • Prominent Energy M&A Partner Rejoins Latham & Watkins in Houston
    February 12, 2020
    Latham & Watkins LLP is pleased to announce that Justin T. Stolte has returned to the firm's Houston office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice. Stolte draws on a unique combination of technical, legal, and business experience regularly representing clients in complex transactions across the energy sector.
  • California Bank of Commerce Adds Michael Nicita as Executive Vice President, Senior Credit Administrator
    February 12, 2020
    California BanCorp (CALB), the holding company for California Bank of Commerce (CBC), has further expanded its Northern California presence with the addition of Michael Nicita as Executive Vice President and Senior Credit Administrator. Nicita will be based out of the Sacramento office and will be responsible for overseeing high-quality credit underwriting.
  • Wells Fargo Announces Organizational Changes
    February 12, 2020
    Wells Fargo & Company (NYSE: WFC) today announced the appointment of several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability, and responsibility. The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s Operating Committee.
  • Can Macy’s Save Itself?
    February 12, 2020
    Macy’s has a three-year plan to turn around flagging sales, but experts say it might be too little, too late for the iconic U.S. retailer.
  • Austin Financial Services Provides $6.3MM for Revolving and Term Loan Credit Facilities to a Meal Production Company with National Presence
    February 12, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $6.3MM AR and Inventory revolver with M&E and Capex Term Loans to a company who provides meal production & delivery service to hospitals, skilled nursing homes, long-term care facilities and catering companies throughout the country.
  • North America M&A Activity Analysis-Q4 2019
    February 12, 2020
    The North America region witnessed a slump in mergers and acquisition (M&A) deal volume in the fourth quarter (Q4) of 2019, according to GlobalData, a leading data and analytics company. M&A activity within the North America region witnessed a down trend, with the region experiencing a decrease from 3,149 M&A deals in Q4 2018 to 2,851 M&A deals in Q4 2019.
  • Peoples Financial Corporation Announces Officer Promotions
    February 11, 2020
    The board of directors of Peoples Financial Corporation (OTCQX Best Market: PFBX), parent of The Peoples Bank ("bank"), today announced the promotions of Karen B. Arguelles to Vice President (Commercial Lending), Brian J. Kozlowski to Senior Vice President and Chief Administrative Officer and A. Tanner Swetman to Senior Vice President and Chief Operating Officer.
  • Business Capital Delivers Financing For Bay Area Medical Clinic
    February 11, 2020
    Business Capital structured and delivered approximately $6MM in senior secured loans for NOVA IVF, a clinic established in 1987, providing in vitro fertilization (IVF) treatments with a consistent success rate well above average nationwide.
  • Angelo Gordon Raises $1.8 Billion for Inaugural Credit Solutions Fund
    February 11, 2020
    Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $38 billion alternative investment firm focused on credit and real estate investing, announced today the final closing of AG Credit Solutions Fund, L.P. (the “Fund”) with $1.8 billion of equity commitments.