Anna's Linens Renews and Expands Credit Facility

COSTA MESA, Calif.-Anna's Linens has entered into a four-year secured revolving line of credit with Union Bank, which expands the retailer's borrowing capacity during peak periods later this year.

The agreement, which increases the company's previous line of credit, provides for a borrowing capacity of $50 million for the period between Aug. 1 and Dec. 15 of each year, and $45 million for the remainder of each year. The new credit line also includes "favorable interest costs, limited financial covenants and flexibility to support the company's strategic growth initiatives," according to a statement from Anna's Linens.

Calling the agreement "a major milestone" for the company, Alan Gladstone, founder and chief executive officer of Anna's Linens, added that the new credit line "provides us with the resources and flexibility to continue our aggressive growth strategy."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.