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Article Date: October 2017
Word Count: 194

Iconix License Shifts Pose New Financial Threat


Iconix said Walmart’s decision not to renew the Danskin license will depress revenues by some $15.6 million next year, which is likely to mean the company will not be in compliance with its debt covenants. As a result, it has agreed to reduce its credit line by $75 million to $225 million and retained Guggenheim as an advisor to explore additional asset sales and possibly a sale of the company. The most critical short-term need is $165.7 million in outstanding convertible notes that become due in Mar., 2018, which was restructured by the company contingent on its ... Log in to view full article.

 


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