HEADLINES

THE M&A ADVISOR: SACP IS A WINNER IN THE CHAPTER 11 REORGANIZATION OF THE YEAR CATEGORY

NEW YORK, August 27, 2021 – After an unprecedented year of dealmaking during a global pandemic and period of challenge and financial uncertainty, The M&A Advisor announced recipients of the 15th Annual Turnaround Awards, recognizing those that reached the pinnacle of the distressed investing, bankruptcy, and restructuring industry over the past year. Second Avenue Capital Partners and SB360 Capital Partners received an award for the Old Time Pottery transaction.

SOLSTICE SUNGLASSES EMERGES FROM CHAPTER 11 WITH $6.5 MILLION EXIT FACILITY FROM SECOND AVENUE CAPITAL PARTNERS

BOSTON, Massachusetts – August 05, 2021 – Solstice Sunglasses, the second-largest sunglass retailer in the United States, announced today it has successfully emerged from Chapter 11 with the support of a $6.5 million exit financing facility provided by Second Avenue Capital Partners, LLC. Solstice filed for bankruptcy relief in February giving them an opportunity to restructure the business as the country tries to recover from the impact of COVID-19 disruptions.

MARQUEE BRANDS PLANS FOR GROWTH WITHIN MATERNITY BRANDS WITH SECURED CREDIT FROM SACP

New York, New York – June 29, 2021 – Second Avenue Capital Partners, LLC (“SACP”) closed on a $10,000,000 senior secured credit facility to the leading maternity apparel sister brands Motherhood Maternity and A Pea in the Pod within the Marquee Brands portfolio. The credit facility will be used for general working capital purposes and will provide the company with additional liquidity for future expansion.

JCR: FROM ‘APOCALYPSE’ TO PANDEMIC: RETAIL IN THE AGE OF COVID AND BEYOND

The following article was penned by SACP’s Michael Sullivan and Mark Gallivan for the June 2021 issue of the Journal of Corporate Renewal

The retail industry has endured several challenges since the start of the global pandemic. While several big-name retailers have filed for bankruptcy, others once again evolved their businesses to survive and flourish. Retailers have broadly recognized the necessity to adapt their business models to withstand the COVID-19 disruption and plan for a future in the post-pandemic era.

WWD:  UNTUCKit SEES SALES BUMP AS PANDEMIC WANES

As seen in WWD May 19, 2021 – by Jean E. Palmieri

Earlier this month Untuckit closed on a $30 million senior secured term loan with Second Avenue Capital Partners, a deal that the company said will give it the “financial latitude to continue [its] pre-pandemic growth trajectory.” Sanandres, chief executive officer, explained that the company’s existing loan was coming due, so they started to explore refinancing options. It was Second Avenue’s retail experience that sealed the deal.

SECOND AVENUE CAPITAL PARTNERS PROVIDES A $30 MILLION SENIOR SECURED TERM LOAN TO UNTUCKit

BOSTON, Massachusetts – May 06, 2021 – Second Avenue Capital Partners, LLC (“SACP”) announced it has closed on a $30,000,000 senior secured term loan to UNTUCKit, one of the fastest-growing retail apparel brands in North America. The term loan will be used to restructure existing debt and provide the Company with the financial latitude to continue their pre-pandemic growth trajectory.

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.

SECOND AVENUE CAPITAL PARTNERS AND TIGER FINANCE PROVIDE $25MM ABL IN SUPPORT OF FRANCESCA’S

BOSTON, Massachusetts – February 2, 2021 – Second Avenue Capital Partners and Tiger Finance provided a $25 million asset-based revolving credit facility to francesca’s in the company’s recent asset sale. Francesca’s Holdings Corporation and Francesca’s Acquisition completed the sale of substantially all of francesca’s assets to SB360 Capital Partners and Tiger Capital Group.

INDUSTRY VETERAN ERIC LUUKKO JOINS SECOND AVENUE CAPITAL PARTNERS AS MANAGING DIRECTOR

BOSTON, Massachusetts – October 6, 2020 – Second Avenue Capital Partners (“SACP”), a lender specializing in asset-based loans for the broader retail and consumer products industry, is pleased to announce Eric Luukko has joined the firm as a Managing Director. Based in the Boston office, Eric’s portfolio will be wide-ranging and include detailed due diligence, collateral oversight, and loan operations for SACP.

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.

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 Announces Innovative Lending Platform

BOSTON, Massachusetts – April 16, 2018 – Second Avenue Capital Partners, LLC, 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. As such, Second Avenue joins a portfolio consisting of the finest retail and consumer businesses in the United States.

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