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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