March 06, 2018
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.
Tyler Watson, a 20-year-old Oregon resident, filed two separate lawsuits against the retailers after clerks at the Medford Field & Stream and Grants Pass Walmart stores refused to sell him a rifle because of his age.
The ratings agency gave a B3, or highly speculative, rating to Boardriders’ $450 million senior secured term loan due in 2024 with which it is financing the A$380 million ($292 mm) BBG buyout and paying down other debt.
Velia Carboni was appointed to the newly created position on the company’s senior leadership team reporting directly to Steve Rendle.
He will step down from his current role as chairman of the outdoor equipment company after leading it for 46 years, as part of a planned transition that will see his son David, currently president, take over as chairman.