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Fashion Retailer rue21 Strikes Deal To Retire Debt

PYMNTS

Fashion retailer rue21 (r21 Holdings, Inc.) The retailer modified its asset-based credit facility to bolster availability to $155 million due 2025 headed up by Bank of America, N.A. The retailer also opened three new physical retail shops, with another 15 in the works for 2021. million members.

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Deliverr Raises $7.1M In Venture Funding Led By 8VC

PYMNTS

According to reports citing the company, the Series A round of venture funding was led by 8VC, the venture capital company. Deliverr has ten warehouses in states including Texas, Missouri, Pennsylvania, Ohio, and New Jersey. Deliverr said it will use the funding to grow its team and ink more partnerships with more online retailers.

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Proxy War Prompts Exit Of CEO From USA Technologies

PYMNTS

USA Technologies CEO Stephen Herbert has stepped down against the backdrop of a proxy war ignited by the company’s biggest investor, New York-based hedge fund Hudson Executive Capital, Biz Journals reported on Friday (Oct. will step in as interim CEO for the Pennsylvania-based company. Board member Donald W.

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Need A Shopping Mall? Landlords Are Selling Cheap

PYMNTS

Given the less than stellar track record of shopping malls in recent memory, investors are not exactly lining up to buy into fading retail behemoths where no one wants to shop. million transaction for the Logan Valley Mall in Altoona, Pennsylvania, anchored by Macy’s, JCPenney and Sears stores. It’s a tough environment.

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David’s Bridal Avoids Bankruptcy With Debt Deal

PYMNTS

Sources told Bloomberg that the retailer had discussions with lenders and equity holders from its previous bankruptcy filing, including Oaktree Capital Group, with some investors agreeing to rework about $280 million of debt and to provide $55 million of new money to keep the company in business.

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Commercial Credit Trends – Where to Tread Carefully

South State Correspondent

This data is critical for pricing, capital allocation, and marketing. The Midwest continues to perform the best, followed by Pennsylvania. ” The reality is that banks should be much more granular than that to allocate capital more efficiently. Once again, it is time to play more defense.

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Philadelphia Mall Owner Takes Care Of Its Own

PYMNTS

There’s arguably no more polarizing macroeconomic issue in the retail world than the fate of the American mall. The problems start with how retailers view and serve the customer. If you own mall REITs, be prepared for a long period of disruption, even as COVID-19 speeds up the retail sector shakeout,” he continued.