Hilco, Infinity Brands provide term loan financing to Frederick’s of Hollywood
Northbrook, Ill. Hilco Consumer Capital, through its Hilco Brands unit, and in partnership with Infinity FS Brands, announced the completion of a $7 million term loan to Frederick's of Hollywood Group. Hilco Brands acted as agent on the transaction.
The loan, which is secured in part by the intellectual property of Frederick's, including the company's trade name and trademarks, is being used to repay a $2 million bridge loan provided by Wells Fargo Financial and also for general working capital purposes.
Mitchell C. Berk, CEO of Hilco Consumer Capital, a unit of Hilco Trading, LLC, said, "The rich and long history of the iconic Frederick's of Hollywood brand combined with our ability to recognize value in the intellectual property and the company's multichannel distribution, including retail, catalog, e-commerce, wholesale and licensing, made this investment an attractive opportunity for us."