The arts and crafts big-box chain has drawn an aggregate of $120m from its senior secured asset-based credit facility to ‘meet its cash needs while there are disruptions in the debt markets’. Bain and Blackstone bought the US retailer in 2006 in a $6bn deal.
2 min read · 12 January 2013
The Los Angeles-based private equity firm has acquired nearly all the company’s debt for $200m and is funding the plan of reorganisation for Pierre, which is one of 34 private equity-backed companies that has gone bankrupt this year. Madison Dearborn bought Pierre in 2004 for about $422m.
2 min read · 12 January 2013
Department store Mervyns, bought in 2004 by Cerberus Capital Management and Sun Capital Partners for $1.2bn, will liquidate after filing for bankruptcy protection in July.
2 min read · 12 January 2013
The data doesn’t lie – there are far fewer deals being done than last year.
2 min read · 12 January 2013
The US firm has reportedly made its second bid in two years for the electronics maker, two months after Morgan Stanley's deal for the home appliance maker fell apart.
1 min read · 12 January 2013
The number of commercial property transactions has dropped off significantly in the past three months, according to a report by Real Capital Analytics – including in Asia. In the US. Macklowe, Fortress, Morgan Stanley, Aviva and GE biggest sellers.
2 min read · 12 January 2013
The publicly listed private equity firm, battered by the public markets, has increased the stake the Chinese sovereign wealth fund can own in the firm from 9.99 percent to 12.5 percent.
2 min read · 12 January 2013
The US firm has reportedly made its second bid in two years for the electronics maker, two months after Morgan Stanley's deal for the home appliance maker fell apart.
1 min read · 12 January 2013
The bankrupt retailer will be sold for about $476m to a liquidation group including Gordon Brothers Retail Partners, Hilco Merchant Resources and Hudson Capital. Apollo, which spent $201m for its stake in the company, has said the loss will have minimal impact.
2 min read · 12 January 2013
The buyout giant estimates that the value of its private equity investments, $31.8bn as of 30 June, will continue to decline in the third quarter, according to a regulatory filing. It previously recorded a $1.2bn loss on its investments for the first half of 2008.
1 min read · 12 January 2013
