Rockport Plans To Restructure Shares Or Debt Financing

According to the world clothing shoes and hats net, the United States

A major creditor of Rockport Group (below Rockport) is seeking a possible restructuring plan after the acquisition of the controlling stake of the company recently, and the sale plan is also included.

Three sources,

The popularity and the change of consumers' shopping preferences make more and more entity retailers in deep trouble.

At present, Rockport plans to carefully consider restructuring plans, including the sale of equity or debt financing.

The company has hired investment bank Houlihan Lokey Inc as a consultant to explore the restructuring plan.

The main creditor of Rockport, the alternative Asset Management Co Crescent Capital Group LP (below Crescent) has acquired the controlling interest of Rockport in the past few weeks from the private equity fund Berkshire Partners LLC (below Bershire) and has injected new funds with other joint investors.

Insiders believe that Crescent's equity investment is to protect the funds that had been lent to Rockport, so as to ensure that the latter has the ability to repay thereafter.

According to Thomson Reuters data, The Rockport Group currently has at least $6000 in debt, in the form of revolving credit.

At the same time, Crescent also saw the added value of Rockport shoes for men and women.

Rockport is headquartered in Canton, Massachusetts, Massachusetts. It was founded in 1971 by Saul L. Katz and son Bruce Katz, and has been in 40 history for many years.

In the early days, two of the fathers and sons, who had been in the warehouse for months, had driven their cars from Boston to Washington, and sold them to the small leather factories and shoe shops in the town.

Today's Rockport also extends the entrepreneurial spirit of the two generation of the father and son, creating innovative comfort with the help of innovative sports technology.

And casual shoes.

Rockport sells products worldwide through its multi-channel network with wholesalers' partners, such as Messi department store, shoe store, brand retail store and official website.

In 2015, Berkshire, a private equity fund, and New Balance, a Boston running shoe brand, bought The Rockport Company from the German sports giant Adidas and merged it with the Drydock Footwear of New Balance's shoe company, including its shoe brand, including the Balance, the company and the company.

The four major brands covered by The Rockport Group include: Rockport, Cobb Hill, Aravon and Dunham.

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