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$65M Question: Who’s Getting Loan for that Amount from Hilco?

Recipient an as-yet-unnamed “national specialty retailer.”

Published

3 hours ago

July 24, 2026

Shop! Association

Graphic illustration: design master/iStock by Getty Images

At just before 1 p.m. EDT on July 23, Hilco Global Capital Solutions put out a news release saying it had provided a $65 million first-in, last-out secured term loan “to support the acquisition of a leading specialty retailer.” But it did not name the recipient of that so-called FILO loan, other than to say it “operates a nationwide retail platform that serves a broad consumer base through an extensive network of retail locations and robust e-commerce capabilities.”

As of this posting, more than 24 hours later, the ID of the loan recipient remains a mystery. A check with a variety of national and regional news sources (Hilco is in the Chicago suburb of Northbrook, Ill.), turned up no answers to that question.

Hilco Global, which offers monetization and liquidation services, has been down this path before. For example, according to published reports, in 2023, Hilco Global’s ReStore Capital unit provided a $65 million second-lien term loan to fashion retailer Express during its liquidity restructuring prior to bankruptcy.

Note: this item will be updated when the retailer’s name is made public.

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Shop! Association

The Shop! Association is a global trade association dedicated to advancing the retail environment and experience industry. Its purpose is to empower members to innovate at retail by connecting them with education, insights, and events that support collaboration and forward-thinking solutions. From ideation through implementation, Shop! engages its diverse membership to co-create innovations that help shape the future of retail worldwide. Central to its mission is fostering an inclusive culture that embraces diverse voices and upholds high standards of ethics and transparency. Since 1956, Shop! has empowered its members to innovate at retail through education, insights and events. Learn more by visiting shopassociation.org. Interested in joining the Shop! Association? Reach out to Dina Meindl, Membership Services, for more information today! dina@shopassociation.org.