Tiger Finance Supports Ashley Stewart's Growth with $15 Million Credit Facility

Tiger Finance Provides $15 Million Credit Facility to Ashley Stewart

Tiger Finance has stepped in to support Ashley Stewart, a renowned women’s fashion and lifestyle brand established in Brooklyn in 1991, by providing a significant $15 million revolving credit facility. This funding is crucial as it enhances Ashley Stewart’s liquidity and underpins critical growth initiatives under its new ownership.

Recent changes in ownership have paved the way for a more streamlined balance sheet. G Ashley Inc. recently acquired the brand's assets through a UCC Article 9 sale. This acquisition empowers the new management to optimize operations while nurturing the core values of empowerment and sisterhood that Ashley Stewart embodies. With this capital boost, the company aims to strengthen its inventory procurement process, ensure supply chain continuity, and amplify its omnichannel strategies aimed at enhancing both customer experience and profit margins.

The brand continues to thrive with 72 retail locations across the United States bolstered by a robust e-commerce platform at AshleyStewart.com, complemented by a vibrant digital and social media presence. Firmly established as a leader in plus-size fashion, Ashley Stewart is dedicated to offering styles that promote confidence and empowerment.

Andy Babcock, Senior Managing Director at Tiger Finance, emphasized the importance of this revolving line of credit, stating, "The facility enhances the company's immediate liquidity profile and facilitates a disciplined restructuring process. This will allow Ashley Stewart to stabilize operations, leading to a better positioned brand with increased profitability potential."

Tiger Finance is part of the Tiger Capital Group based in New York, which issued over $200 million in new credit commitments in the previous year, spanning various retail and consumer sectors, including several omnichannel lifestyle brands. Babcock highlighted that their retail experience signifies strong confidence in supporting businesses that have established brand equity and pathways to operational improvement: "Ashley Stewart is a perfect example of this."

Sarika Gupta, CFO of Ashley Stewart, reflected on the partnership, stating, "This collaboration showcases Ashley Stewart's resilience and ability to adapt through varying retail cycles. With this additional liquidity, we can surge ahead with our transformation initiatives, ensuring we remain devoted to our mission of serving and uplifting curvy women."

About Tiger Finance

Tiger Finance is an asset-based lender that makes investment decisions based on intelligent asset utility. The firm offers first-lien, second-lien, and split-lien facilities, primarily structured as term debt, advancing funds against various assets including working capital, machinery, real estate, and intellectual property. As a division of Tiger Capital Group, Tiger Finance specializes in secured debt financing and equity investments while providing comprehensive appraisals for the asset-based lending industry.

This financial maneuver signifies a progressive step for Ashley Stewart as it navigates the complexities of the current retail landscape, harnessing newfound capital to accelerate its comeback while upholding its ethos of empowerment and style.