dELiA*s announces new revolving credit facility

31 May '11

1 min read

dELiA's Inc, a direct marketing and retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, announced that it has entered into a new, five year, $25 million revolving credit facility with GE Capital, Corporate Retail Finance.

Walter Killough, Chief Executive Officer, commented, "We are excited to have entered into this new agreement with GE Capital. This facility will supplement our existing cash levels and support the organization as we continue to implement our key initiatives."

The new facility includes a $15 million letter of credit sublimit and an accordion feature that, under certain circumstances, allows for increases in borrowing capacity. The new facility does not include a restricted cash collateral requirement and replaces the Company's prior $10 million letter of credit agreement with Wells Fargo.

dELiA's, Inc. is a direct marketing and retail company comprised of two lifestyle brands primarily targeting teenage girls and young women. Its brands - dELiA*s and Alloy - generate revenue by selling apparel, accessories, footwear and room furnishings to consumers through direct mail catalogs, websites, and dELiA*s mall-based specialty retail stores.

dELiA's Inc

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