FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Gibraltar Provides $13MM To Support Home Furnishings Company’s Turnaround

August 22, 2019, 08:45 AM
Filed Under: Consumer Products


A turnaround consultant called in Gibraltar when his client’s bank proved less flexible than necessary while certain business improvements were in process. Gibraltar was able to respond with a $13 million asset-based line of credit to help the company move through the transition.

The company, based in New York City designs, markets and distributes home fashions such as bedding, towels, shower curtains and pillows to several off-price and full-price big-box retail chains.

Anticipating growth, the company invested in infrastructure to serve its growing market. However, the timing of these investments and the cash-flow-producing growth necessary to fund them proved to be problematic, and the traditional bank that had financed the improvements did not have the flexibility to adjust to the company’s needs through this transitional period.

Gibraltar saw these improvement processes in a positive light, as setting the stage for strong future growth. Gibraltar stepped in with asset-based financing that allowed the home fashion producer to leave its restrictive banking relationship and gain more time to complete its restructuring. Gibraltar leveraged the company’s accounts receivable and inventory to provide additional working capital and create a bridge to the future. 

Gibraltar Business Capital offers credit facility capacity between $2 million and $20 million to serve mid-market businesses and their unique needs. Check out the quality of our leadership and read case studies of some of the more than 200 companies Gibraltar has helped so far. Then, set up a consultation today with our responsive sales team.





Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.