The company entered into a Restructuring Support Aggreement with a majority of its term loan lenders and equity sponsors, according to a company statement. The company secured commitments for $20 million in new-money debtor-in-possession financing from a majority of its existing term loan lenders. The company also entered into a $35 million DIP asset backedloan with its current lenders.
» RELATED: 5 retailers closing Ohio stores in 2017
Charming Charlie has locations in Beavercreek, Cincinnati, Columbus, Fairfield Twp. and Mason. Dozens of retailers have filed for bankruptcy this year including: ToysRUs, The Limited, Gymboree, Wet Seal, RadioShack, Gander Mountain and Payless.
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