Gordon Brothers is supporting Kirkland’s Inc.’s strategic repositioning efforts with a $12 million first-in last-out delayed draw term loan.
 
When drawn, the U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand will use the loan to provide additional liquidity for ongoing working capital needs.
 
“We’re proud to invest in an industry leader like Kirkland’s and provide additional liquidity to achieve growth initiatives after a period of challenging financial performance and macroeconomic pressures,” said Kyle C. Shonak, Senior Managing Director, Transaction Team & Head of North America Lending at Gordon Brothers. “We were able to combine our customized lending with additional enhancements for a more effective long-term solution.”
 
“Gordon Brothers’ capital, capabilities and breadth of services will further bolster our transformation efforts,” said Mike Madden, Chief Financial Officer of Kirkland’s Home. “Not only does the additional capital provide us with sufficient room to continue executing our strategic repositioning, but the financing was tailored to maximize value and give us flexibility going forward.”