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Article Date: February 2018
Word Count: 223

Sheikh Shoes Seeks More Financing after Weak All-Star Weekend

The bankrupt retailer is asking the court to approve an $11,000,000 second term loan from 10 Brothers Holdings, an entity controlled by the Sheikh family trust, to alleviate its ongoing liquidity crisis and pay operating and administrative expenses. The funds will come from Revere capital, which will provide the money by refinancing real estate owned by the family. It will supplement the $5,000,000 first term loan from Anjum Sheikh, which has already been spent, and provide a longer-term solution to fund operations as Feb. rent is coming due. The retailer said it is finalizing negotiations with the unsecured creditors committee ... Log in to view full article.


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