Salus Capital, Frederick’s of Hollywood Increase FILO Credit Line to $14 Million - Article | ABL Advisor
Summary
Fredericks of Hollywood Group announced that Salus Capital Partners, the companys lender, has increased the FILO Advance credit line portion of the companys credit facility by $5.0 million to $14.0 million. "By increasing the FILO Advance credit line to $14 million, we have greater financial flexibility to work with vendors and invigorate our merchandising strategy, which will play an important role in stabilizing our business. We are focused on reconnecting with our customers by returning to our roots and expanding our offering of core intimate apparel products in order to improve sales," stated Thomas Lynch , the companys chairman and chief executive officer. We are excited to receive their continued vote of confidence with improved terms of our credit facility that provide greater financial flexibility." Fredericks of Hollywood Group Inc., through its subsidiaries, sells womens apparel and related products under its proprietary Fredericks of Hollywood\xae brand through 112 specialty retail stores, a catalog and an online shop.