Salus Capital Partners and Downtown Capital Partners have agreed to provide $80 million in financing via a senior secured credit facility to specialty retailer Anna’s Linens, Inc, the companies announced. The retailer expects to use the funding to refinance the debt held by the retailer’s current lender as well as for general corporate purposes.
“We are happy to partner with the Salus team on our new credit facility, which provides the company with the resources and flexibility to execute our strategic business plan,” Scott Gladstone, president and CEO of Anna’s Linens, said. “Our new relationship leverages Salus Capital’s deep understanding of the retail sector, which has been evidenced in the new credit facility we have finalized.”
Anna’s Linens is a family-run specialty retailer of value-priced home textiles and home decor items since 1987, and has headquarters in Costa Mesa, CA. It has more than 300 stores located throughout the country as well as an ecommerce platform.
“Anna’s Linens is a family business with a history of success and a reputable market presence,” Andrew H. Moser, president and CEO of Salus Capital, said. “In partnering with Downtown Capital Partners, we were able to efficiently develop a capital solution that provides significant liquidity in a timely fashion.”