Gordon Brothers Finance Company Closes $40M Term Loan for Sears Hometown and Outlet Stores

Attorneys in Choate’s Retail Finance Group recently advised Gordon Brothers Finance Company, as Agent, in its $40 million Term Loan Credit Agreement to Sears Hometown and Outlet Stores, Inc. and its three operating subsidiaries, Sears Authorized Hometown Stores, LLC, Sears Home Appliance Showrooms, LLC, and Sears Outlet Stores, L.L.C. The Loan, which is secured by a second lien on the Company’s inventory, credit card receivables, and specified other assets, has a five-year term.