TD Bank's facility to help Ashley Stewart meet their goals
07 Feb '11
2 min read
Ashley Stewart and TD Bank have jointly announced that they have entered into a $12 million senior secured revolving credit facility arranged by TD Bank's Commercial Lending Group. The asset based lending agreement includes cash management solutions that will streamline financial operations of the business.
"Our new bank facility with TD Bank is a key step in positioning Ashley Stewart for future growth and materially increases our financial flexibility. We look forward to working with TD Bank as we add new stores and aggressively grow our global e-commerce business, AshleyStewart.com" said Laura Weil, Chief Executive Officer of New Ashley Stewart, Inc.
"We at TD Bank are pleased to be able to provide Ashley Stewart with the capital and cash management resources they need to grow. We're proud to bring our expertise and financial solutions into this partnership to help Ashley Stewart meet their goals," said Peter R. White, Managing Director, Sponsor Finance, TD Bank.
Ashley Stewart currently operates 186 stores in 25 states. Since the early 1990's, Ashley Stewart has been styling customers and setting fashion trends for the plus-size fashion industry. The Ashley Stewart brand is truly an eclectic mix. It is fashion forward, sexy and inspirational. It provides the customer with head-to-toe outfits from trendy sportswear to lingerie to outerwear.
marketing@alchempro.com
