USA: Retail Financier Provides $10 Million Credit Line To Youngworld Stores
IBJ Whitehall Retail Finance announced today that it has provided a $10 million, three year, revolving line of credit to Youngworld Stores Group, a 12-store retail chain based in Brooklyn, New York. Youngworld Stores, which specializes in children's apparel, accessories and furnishings, was founded in 1948 by the Chera family. Today, it is a leader in providing quality merchandise at low prices."It was refreshing to do business with people who do everything they promise to do," commented Haim Chera, president of Youngworld Stores Group. "Not only did IBJ Whitehall live up to their word - the people we worked with, the credit team, attorneys, and the cash management staff were all professional as well as pleasant to deal with. We are confident that dealing with lenders who specialize in retail businesses will benefit our company tremendously over the long term."Barbara Anderson, executive vice president, IBJ Whitehall Retail Finance stated: "Our lending institution seeks opportunities to support companies that are outperforming many of the competitors in their niche. IBJ Whitehall is proud to be part of Youngworld's 50-year history, and we look forward to finding ways to add value to their capital structure with financial products and services tailored to their retail business."IBJ Whitehall Retail Finance provides asset-based financing arrangements and a full array of commercial banking products exclusively to middle market retailers nationwide. It specializes in senior secured debt facilities for growth, acquisition and restructuring situations, including debtor-in-possession and emergence financing. IBJ Whitehall Retail Finance is a division of New York-based IBJ Whitehall Financial Group, a leading provider of specialized financial services to middle market companies since 1923.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- What TTIP might mean for US, EU textiles & apparel
- Four steps to reduce product defects
- Geo-political uncertainty and how to survive it
- Unlocks for the future fashion sourcing landscape
- Adidas raises the bar for North America sales
- H&M, VF Corp and Levi among most ethical companies
- US Q4 in brief – Destination XL Group, Caleres
- PVH Corp to acquire e-commerce retailer True&Co
- Vietnam limits hazardous chemicals in apparel
- Target unveils "ambitious" store re-design plans
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective