The Company Announces That It Has Entered Into a Non-Binding Term Sheet for $130 Million Term Loan
2024年2月16日 - 10:00PM
The Children’s Place, Inc. (Nasdaq: PLCE), an
omni-channel children’s specialty portfolio of brands with an
industry-leading digital-first model, today announced that it has
entered into a non-binding term sheet with 1903P Loan Agent, LLC
(“Gordon Brothers”), as Lender, Administrative Agent and Collateral
Agent, (the “Term Sheet”), for a $130 million term loan (the “Term
Loan”).
Additional details concerning the Term Sheet,
certain of the expected terms of the Term Loan, and the Company’s
ongoing activities concerning strategic alternatives, may be found
in the Form 8-K filed by the Company with the Securities and
Exchange Commission on February 16, 2024.
About The Children’s PlaceThe
Children’s Place is an omni-channel children’s specialty portfolio
of brands with an industry-leading digital-first model. Its global
retail and wholesale network includes four digital storefronts,
more than 500 stores in North America, wholesale marketplaces and
distribution in 16 countries through six international franchise
partners. The Children’s Place is proud to be a women-led Company,
including industry-leading gender diversity in senior management
and throughout all levels of its workforce, and of its commitment
to sustainable business practices that benefit its customers,
associates, investors, suppliers and the communities it serves. The
Children’s Place designs, contracts to manufacture, and sells
fashionable, high-quality apparel, accessories and footwear
predominantly at value prices, primarily under its proprietary
brands: “The Children’s Place”, “Gymboree”, “Sugar & Jade”, and
“PJ Place”. For more information, visit: www.childrensplace.com,
www.gymboree.com, www.sugarandjade.com and www.pjplace.com, as well
as the Company’s social media channels on Instagram, Facebook, X,
formerly known as Twitter, YouTube and Pinterest.
Forward-Looking StatementsThis
press release contains or may contain forward-looking statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to statements relating to the Term Sheet and expected Term Loan.
Forward-looking statements typically are identified by use of terms
such as “may,” “will,” “should,” “plan,” “project,” “expect,”
“anticipate,” “estimate” and similar words, although some
forward-looking statements are expressed differently. These
forward-looking statements are based upon the Company’s current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results and performance to
differ materially. Some of these risks and uncertainties are
described in the Company’s filings with the Securities and Exchange
Commission, including in the “Risk Factors” section of its annual
report on Form 10-K for the fiscal year ended January 28, 2023.
Included among the risks and uncertainties that could cause actual
results and performance to differ materially are the risk that the
Company will be unsuccessful in gauging fashion trends and changing
consumer preferences, the risks resulting from the highly
competitive nature of the Company’s business and its dependence on
consumer spending patterns, which may be affected by changes in
economic conditions (including inflation), the risks related to the
COVID-19 pandemic, including the impact of the COVID-19 pandemic on
our business or the economy in general, the risk that the Company’s
strategic initiatives to increase sales and margin are delayed or
do not result in anticipated improvements, the risk of delays,
interruptions, disruptions and higher costs in the Company’s global
supply chain, including resulting from COVID-19 or other disease
outbreaks, foreign sources of supply in less developed countries,
more politically unstable countries, or countries where vendors
fail to comply with industry standards or ethical business
practices, including the use of forced, indentured or child labor,
the risk that the cost of raw materials or energy prices will
increase beyond current expectations or that the Company is unable
to offset cost increases through value engineering or price
increases, various types of litigation, including class action
litigations brought under consumer protection, employment, and
privacy and information security laws and regulations, the
imposition of regulations affecting the importation of
foreign-produced merchandise, including duties and tariffs, the
uncertainty of weather patterns, the risk that we may be unable to
consummate the Term Loan as anticipated, or at all, or obtain
alternative financing. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date they were made. The Company undertakes no obligation to
release publicly any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Contact: Investor Relations (201) 558-2400 ext.
14500
Childrens Place (NASDAQ:PLCE)
過去 株価チャート
から 4 2024 まで 5 2024
Childrens Place (NASDAQ:PLCE)
過去 株価チャート
から 5 2023 まで 5 2024