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Article Date: January 2018
Word Count: 269

Sheikh Shoes Seeks Nike Vendor Credit for All-Star Weekend

The bankrupt retailer asked the court to approve a $4 million short term senior vendor credit from Nike for stock it desperately needs in time for the Feb. 18 NBA All Star Game, which it thinks it can flip for over $7 million within 30 days. The credit needs to be secured by a priming lien on all the retailer’s assets, and it will repay the Eager Beavertons for the inventory from the first moneys generated ahead of all other obligations. Sheikh argues that having fresh, premium Nike and Jordan product will drive traffic and sales of all brands on ... Log in to view full article.


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