Home / Knowledge / News / Apparel/Garments / G-III Apparel increases secured revolving credit line
G-III Apparel increases secured revolving credit line
04
Apr '08
G-III Apparel Group Ltd announced it has increased its secured revolving credit line to a maximum borrowing level of $250 million compared to a maximum of $195 million under the prior loan agreement.

Amounts available under the credit line are subject to borrowing base formulas and over advances as specified in the loan agreement. The lending group for the three-year revolving credit line, which now extends to July 2011, was led by CIT Commercial Services, a unit of CIT Group Inc.

Morris Goldfarb, G-III's Chairman and Chief Executive Officer, said, “This larger line is more appropriate for our business given our continued strong organic growth and our recent acquisition of the Andrew Marc business.

CIT continues to demonstrate a thorough understanding of our business and our strategic objectives. We look forward to a very successful ongoing relationship with CIT and the rest of our bank group and thank them for their support.”

John F. Daly, President of CIT Commercial Services, commented, “As an organization, we are dedicated to supporting the apparel industry. We have been delighted to continue our relationship with G-III, which is proving to be one of the most dynamic companies in the industry, and with Morris Goldfarb and his team, who have executed their business objectives consistently well. We are pleased to provide our ongoing support to G-III as they continue to grow.”

G-III Apparel Group Ltd


Must ReadView All

Courtesy: Prime Minister's Office, UK

Textiles | On 15th Nov 2018

British PM May secures cabinet support on Brexit

The British cabinet on 14 November backed a draft withdrawal...

India expands paperless processing of export documents

Apparel/Garments | On 15th Nov 2018

India expands paperless processing of export documents

To improve ease of conducting business and promote paperless...

Pak textile mills assured of ECC decision implementation

Textiles | On 15th Nov 2018

Pak textile mills assured of ECC decision implementation

The Pakistani prime minister’s advisor for commerce, textile,...

Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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

Leave your Comments


November 2018

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

news category


Related Categories:

Advanced Search