Children’s Place (PLCE) has released an update.
The Children’s Place, Inc. is actively working on strengthening its financial stability by securing new financing to support its operations. The company has negotiated a preliminary agreement with Gordon Brothers for a $130 million term loan, with plans to use the funds to repay an existing loan and reduce vendor payables, among other corporate needs. The finalization of this deal, which includes various customary fees and interest rates, hinges on due diligence, the negotiation of definitive documents, and an intercreditor agreement. This step is part of a broader strategy to ensure the company’s future success.
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