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Article Date: March 2018
Word Count: 312

The Walking Company Files for Bankruptcy


The comfort footwear retailer blamed soft mall store sales during a difficult Holiday season and the loss of Deckers as a vendor as the catalysts for the prepackaged Ch. 11 filing that has already lined up $10 million in equity commitments from shareholders as well as $57.25 million of DIP financing. TWC’s primary lender, Wells Fargo, has agreed to provide the DIP including a $50 million revolver and a $7.25 million term loan, which will be used for operations and to pay down pre-petition debt. The bank has also agreed to provide $55 million of exit financing. TWC will use ... Log in to view full article.

 


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