Home / Knowledge / News / Textiles / GE provides $100 mn for reorganization of Hancock Fabrics
GE provides $100 mn for reorganization of Hancock Fabrics
05
Aug '08
GE Commercial Finance Corporate Lending announced it provided a $100 million plan of reorganization credit facility to Hancock Fabrics Inc, a fabrics and accessories retailer. The financing will be used to complete the company's reorganization as it emerges from Chapter 11.

Founded in 1957 in Baldwyn, Miss., Hancock Fabrics is a specialty retailer of fashion and home decorating textiles. From stores in 37 states and online, their merchandise includes fabrics, sewing accessories, sewing machines and needlecraft supplies.

“GE's retail and restructuring expertise was critical in securing financing because they truly understood our business and the challenges we were working to overcome,” said Jane Aggers, president and CEO of Hancock Fabrics. “We also valued their ability to make a significant financial commitment in an uncertain market environment.”

“Combining industry and restructuring expertise accelerates our understanding of customer needs as well as their access to financing,” said Tom Quindlen, president and CEO of GE Corporate Lending. “We're committed to delivering smarter capital to borrowers to support both their short and long-term business objectives.”

GE Corporate Lending

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search