Dennis Hernreich, Executive VP and COO and CFO, said, "The sale-leaseback transaction significantly strengthens our balance sheet and financial position. The company now has the flexibility to utilize future free cash flow and working capital to reduce the outstanding convertible notes and to seek external growth opportunities. In addition, Spirit worked very closely with us in creating a very flexible operating lease responsive to the Company's business and future requirements."
Casual Male Retail Group Inc, the largest retailer of big and tall men's apparel with retail operations throughout the United States, Canada and London, England, operates 483 Casual Male XL, Casual Male Big & Tall stores, the Casual Male e-commerce site, Casual Male catalog business, 13 Casual Male at Sears-Canada stores, 24 Rochester Big & Tall stores and a direct to consumer business.
The company is headquartered in Canton, Massachusetts, and its common stock is listed on the NASDAQ National Market under the symbol "CMRG."
Casual Male Retail Group Inc
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