The latest update is out from Children’s Place (PLCE).
The Children’s Place, Inc. secured a $78.6 million financing agreement with Mithaq Capital, which includes a $30 million initial loan and a $48.6 million delayed draw term loan to bolster its operations and pay overdue accounts. Amidst these financial maneuvers, the company’s board underwent significant changes with multiple resignations, a reduction in board size, and the appointment of Douglas R. Edwards as an independent director. Additionally, the company amended its bylaws to introduce a Vice-Chairman role, appointing Muhammad Asif Seemab to the position.
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