Cherokee Global Brands Amends Credit Facility with Cerberus
CHEROKEE (CHKE)
Last cherokee earnings: 12/13 04:05 pm
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US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=104335&p=irol-irhome
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Source: GlobeNewswire
SHERMAN OAKS, Cali., Nov. 13, 2017 (GLOBE NEWSWIRE) -- New financial terms provide greater financial flexibility Amendment to eliminate obligation to call equity commitments Cherokee Global Brands (NASDAQ:CHKE), a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, today announced the amendment, subject to the satisfaction of certain conditions, of its senior secured credit facility(the "Amendment"). "We are pleased to announce the amendment of our credit facility with our lenders, whom we thank for their collaborative approach throughout the amendment process,” commented Henry Stupp, Chief Executive Officer of Cherokee Global Brands. “The amendment revises the financial covenants materially to enable the company to focus on growing the business for the long term. Importantly, as part of the amendment, we have eliminated the liquidity
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