Monday, October 30, 2017

Sycamore In Talks To Acquire Bon-Ton's Retail Assets

Sycamore In Talks To Acquire Bon-Ton's Retail AssetsBon-Ton has an estimated 260 stores across the country, including furniture galleries and clearance centers, and has a market value of $15.7M. It is also laden with more than $1B in debt and has seen its shares decline by half their value this year, falling another 13% on Thursday, according to Bloomberg. But Sycamore is reportedly engaging in talks with Bon-Ton about a potential deal to take some of those assets off Bon-Ton's hands.

This would not be the first time Sycamore has come to the rescue of a retailer. The firm is known for investing in ailing companies and in June entered into an agreement to buy Staples Inc. for $6.9B. Sycamore also invested in Aeropostale Holdings and Nine West Holdings and is attempting to raise $4B in funding by January in order to invest in even more. . . . more

No comments: