SFNet member companies who factor or lend to borrowers in the State of New York in an amount of $500,000 or less per borrower and transact more than 5 deals per year, may be immediately affected by new disclosure legislation which SFNet believes is adverse to our members’ interests and is quickly making its way through the New York State legislature.

Cirque du Soleil Entertainment Group, which is restructuring under court protection in Canada, accepted a recapitalization offer from a group of lenders, people with knowledge of the matter said. The ad hoc committee of creditors, which represents holders of about $760 million in Cirque debt, formally presented a “credit bid” that would see lenders inject at least $300 million of new capital into the live-performance company to eventually restart its shows. The offer, previously reported by Bloomberg, was accepted by a committee of Cirque’s board Tuesday night, the people said, asking not to be identified because the information is private.

J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company.

Nasuni, a Boston, MA-based provider of cloud file storage solutions, secured $40 million in funding. This included an additional $25 million in new equity financing from family offices, venture capital firms and corporate venture arms, Goldman Sachs, Telstra Ventures, Northbridge Venture Partners and others, and a $15 million debt facility from Silicon Valley Bank.

Wunder Capital (“Wunder”), the nation’s leader in commercial and industrial solar financing, today announced it has partnered with funds managed by Ares Management Corporation’s Infrastructure and Power strategy (“AIP”), Cyrus Capital Partners (“Cyrus”), and Keyframe Capital (“Keyframe”) to provide financing for more than $100 million in commercial solar loans. The commitment represents a boost for the commercial solar market.

Over half the collection agencies surveyed not only thrived during the pandemic, but actually outperformed their pre-pandemic metrics in a nationwide survey conducted by Prodigal Technologies, Inc. Prodigal, a debt collection AI software company, surveyed accounts receivable management (ARM) agencies about the impact of the coronavirus pandemic on their collections operations. Collection agencies from 30 U.S. states participated in the survey.

Leading global professional services firm Alvarez & Marsal (A&M) has strengthened its Asia restructuring practice with the appointment of Edward Middleton as Managing Director based in Hong Kong. This appointment demonstrates A&M’s commitment to bolstering the firm’s growing capabilities in Asia.

Integer Holdings Corporation (“Integer”) (NYSE: ITGR) is pleased to announce that it has successfully completed an amendment to its senior secured credit facility as a precautionary step during the COVID-19 pandemic. Integer expects to maintain compliance with its covenant net leverage ratio and requested a covenant modification as a precautionary measure to provide additional cushion to allow for continued bolt-on M&A activity and protect against a prolonged pandemic.

Nomad Royalty Company Ltd. ("Nomad" or the "Company") (NSR.TO) (NSRXF) is pleased to announce that it has entered into an agreement with The Bank of Nova Scotia ("Scotia"), Canadian Imperial Bank of Commerce ("CIBC") and The Royal Bank of Canada ("RBC") for a $US50 million revolving credit facility ("Facility") with the option to increase to US$75 million , subject to satisfaction of certain conditions.

Jay Coogan—a well-known attorney who advises clients in mergers and acquisitions, private equity transactions, securities offerings, capital financings, and corporate governance matters—has joined Ballard Spahr as a partner in the Business and Transactions Department, Firm Chair Mark Stewart announced today.

Sterling Bancorp (NYSE: STL) announced that its principal subsidiary Sterling National Bank (“Sterling”) is introducing its new Banking-as-a-Service (“BaaS”) program, which provides a wide range of customized products, payment and back office capabilities for FinTech and other non-bank institutions. The launch of BaaS aligns with Sterling’s continued focus on developing innovative solutions for small and middle market enterprises and working with leading technology solutions companies to produce world-class digital capabilities.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (the “Company” or “Seacoast”) today announced it has hired Austen Carroll as executive vice president and chief lending officer. In his newly-created role, Carroll will lead the commercial banking division at Seacoast. Additionally, Julie Kleffel, the Company’s current community banking executive and central Florida market president has been promoted to chief banking officer of the Company.

Gordon Brothers, the global advisory, restructuring and investment firm, has appointed Samantha Findley to be Director, Special Situations in Australia. Findley will help clients to use the strength of the Gordon Brothers balance sheet and the company’s expert knowledge to resolve liquidity issues and execute restructuring programs. Findley brings more than 15 years of experience as a workout banker, restructuring and insolvency professional and client advisor. In her new role, she will steer clients through some of their most mission-critical operational challenges and lead deals from initial concept and origination, to final execution and portfolio management.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced that it has renewed and expanded its senior secured credit facility for Mersino Management, providing an additional $5.1 million of borrowing capacity. Mersino is a leading provider of pumping and dewatering services. The increased borrowing capacity provides Mersino with additional liquidity to support their growing platform. The tailored facility includes a traditional term loan, as well as a revolver and delayed draw term loan.

A&G Real Estate Partners (A&G) has begun marketing 137 Modell’s Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer’s voluntary Chapter 11 bankruptcy filing and liquidation.

A&G Real Estate Partners, working on behalf of Neiman Marcus Group in the retailer’s bankruptcy proceedings, is marketing four luxury department store leases in California, Washington, Florida and Washington, D.C. Offering long-term, multiple-option leases, the buildings are situated in prime, high-visibility retail districts or shopping centers, said Emilio Amendola, Co-President of Melville-based A&G, which provides real estate advisory services to many of the nation’s most prominent retailers and corporations in both healthy and distressed situations.

In the midst of the Covid-19 pandemic and uncertain economic forecast, Concord Financial Advisors, LLC announces the closing of four senior debt transactions in the second quarter of 2020.

Startek Inc. (NYSE:SRT), a global provider of customer experience management solutions, has entered into an amendment agreement for its senior term loan and revolving credit facility. As part of the amended and restated facility agreement signed by one of its wholly owned subsidiaries, Startek has agreed to accede to the facilities agreement as an additional guarantor. The agreement continues to provide for a $140 million term loan facility along with a $20 million revolving credit facility.

Accord Financial Corp. ("Accord Financial") today announced the launch of its participation in the Export Development Canada (EDC) Business Credit Availability Program (BCAP) Guarantee. The EDC BCAP Guarantee provides eligible small and medium sized companies with loans of up to $6.25 million.

RTW Retailwinds, Inc. [OTC PINK:RTWI], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced that it and its subsidiaries (collectively, the “Company”) have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”). The Company has filed customary motions with the Bankruptcy Court that will authorize, upon Bankruptcy Court approval, the Company’s ability to maintain operations in the ordinary course of business, including, among other things, the payment of employee wages and benefits without interruption, payment of suppliers and vendors in the normal course of business, and the use of cash collateral.