Headlines
Ashley Stewart’s New Owner Nabs $15M Credit Facility
Access to Tiger Finance funding to support brand’s “transformation and omnichannel growth.”
The Ashley Stewart chain’s new owner has received access to added financing via a credit facility. Photo: Brett_Hondow/iStock by Getty Images
Tiger Finance has provided $15 million in revolving credit to G Ashley Inc., the new owner of plus-size fashion retailer Ashley Stewart (Secaucus, N.J.). The financing “enhances Ashley Stewart’s liquidity position and will support ongoing growth initiatives under new ownership,” the companies said in a news release.
The capital infusion follows the recent acquisition by G Ashley Inc. of Ashley Stewart’s assets through a UCC Article 9 sale. (Such transactions occur after a debtor has defaulted on a loan agreement.) G Ashley will use the new capital to support inventory procurement, supply-chain continuity and omnichannel initiatives designed to improve both customer experience and margin performance, the release states.
“This partnership underscores Ashley Stewart’s longstanding resilience and ability to reinvent itself through changing retail cycles,” said Ashley Steward CFO Sarika Gupta. “With added liquidity, the brand will accelerate ongoing transformation initiatives while staying true to its mission of serving and uplifting curvy women.”
Founded in Brooklyn, N.Y., in 1991, Ashley Stewart operates 72 stores across the U.S.
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