Kirkland’s has received $12 million from a global asset management firm to support its strategic repositioning efforts.
Gordon Brothers provides short- and long-term capital and liquidity by lending against and investing in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually. The firm is providing Kirkland’s with a first-in last-out delayed draw term loan to support ongoing working capital needs as it continues its business transformation.
“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 of the Transaction Team and 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.”
Kirkland’s Home CFO Mike Madden noted that Gordon Brothers’ capital, capabilities and breadth of services “will further bolster our transformation efforts. 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.”
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