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Centric Brands Inc (CTRC.OQ)

CTRC.OQ on NASDAQ Stock Exchange Capital Market

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27 May 2020
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Latest Key Developments (Source: Significant Developments)

Centric Brands Voluntarily Files For Chapter 11 To Implement Recapitalization Plan
Monday, 18 May 2020 

May 18 (Reuters) - Centric Brands Inc ::CENTRIC BRANDS INC - VOLUNTARILY FILES FOR CHAPTER 11 TO IMPLEMENT RECAPITALIZATION PLAN.CENTRIC BRANDS REACHES AGREEMENT WITH LENDERS TO POSITION THE COMPANY FOR LONG-TERM GROWTH.CENTRIC BRANDS INC - EXPECTS TO EMERGE AS A PRIVATE COMPANY.CENTRIC BRANDS INC - SECURES $435 MILLION OF DEBTOR-IN-POSSESSION FINANCING.CENTRIC BRANDS INC - PRE-ARRANGED AGREEMENT WITH ITS SECURED LENDERS.CENTRIC BRANDS INC - INTENDS TO CONTINUE OPERATING IN ORDINARY COURSE.CENTRIC BRANDS INC - EXPECTS TO EMERGE FROM CHAPTER 11 AS A PRIVATE COMPANY.CENTRIC BRANDS INC - BLACKSTONE WILL EXCHANGE SECOND LIEN DEBT FOR EQUITY INTERESTS IN REORGANIZED COMPANY.CENTRIC BRANDS - EXISTING SENIOR LENDERS ARES AND HPS WILL RETAIN THEIR SENIOR LOAN POSITIONS AND WILL RECEIVE EQUITY INTERESTS.  Full Article

Centric Brands Enters Seventh Amendment To Receivables Purchase Agreement
Friday, 17 Apr 2020 

April 16 (Reuters) - Centric Brands Inc ::CENTRIC BRANDS - ON APR 13, AMENDED TRADE RECEIVABLES SECURITIZATION FACILITY BY ENTERING INTO SEVENTH AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT.CENTRIC BRANDS - PURSUANT TO AMENDMENT, PARTIES AGREED TO A WAIVER OF OBLIGATION TO DELIVER ITS DEC 31, 2019 YEAR-END FINANCIAL STATEMENTS UNTIL MAY 29.CENTRIC BRANDS INC - PURSUANT TO AMENDMENT, SELLER AGREED TO REDUCE OUTSTANDING CAPITAL OF PURCHASERS UNDER RPA BY $90.0 MILLION.  Full Article

Centric Brands Says Partners Could Limit Access To Credit
Tuesday, 31 Mar 2020 

March 30 (Reuters) - Centric Brands Inc ::PRODUCTION AND DISTRIBUTION PARTNERS MAY LIMIT ACCESS TO CREDIT OR MAY REQUIRE ADVANCE CASH PAYMENTS.MAY EXPERIENCE A DISRUPTION IN SUPPLY CHAIN AS WELL AS A DECLINE IN SALES ACTIVITIES AND CUSTOMER ORDERS.ALTERNATIVE PRODUCTION, SOURCING OR DISTRIBUTION PARTNERS MAY NOT BE AVAILABLE AT ALL, OR MAY BE AVAILABLE AT A HIGHER COST..EXPECTS MATERIAL ADVERSE EFFECT ON BUSINESS, FINANCIAL CONDITION, LIQUIDITY AND RESULTS OF OPERATIONS DURING FISCAL 2020.  Full Article

Centric Brands Acquires Zac Posen Brand And Licenses
Friday, 14 Feb 2020 

Feb 14 (Reuters) - Centric Brands Inc ::CENTRIC BRANDS ACQUIRES ZAC POSEN BRAND AND LICENSES.CENTRIC BRANDS INC - AS PART OF TRANSACTION, CO ALSO ACQUIRED ALL EXISTING LICENSES & COLLABORATION AGREEMENTS FROM PREDECESSOR BUSINESS.CENTRIC BRANDS INC - CO NOT ASSUMING ANY LIABILITIES ASSOCIATED WITH PREDECESSOR BUSINESS.  Full Article

Centric Brands Entered Into First Amendment And Waiver To First Lien Credit Agreement
Thursday, 18 Apr 2019 

April 18 (Reuters) - Centric Brands Inc ::CENTRIC BRANDS INC - ENTERED INTO FIRST AMENDMENT AND WAIVER TO FIRST LIEN CREDIT AGREEMENT, DATED AS OF OCTOBER 29, 2018.CENTRIC BRANDS - AMENDMENT INCREASES AMOUNT OF PERMITTED SECURITIZATION FACILITY UNDER RECEIVABLES PURCHASE AGREEMENT FROM $550.0 MILLION TO $600.0 MILLION.CENTRIC BRANDS INC - AMENDMENT INCREASES BORROWING BASE OF FIRST LIEN CREDIT AGREEMENT.CENTRIC BRANDS INC - ON APRIL 17, ENTERED INTO FIRST AMENDMENT AND WAIVER TO SECOND LIEN CREDIT AGREEMENT, DATED AS OF OCTOBER 29, 2018.CENTRIC BRANDS INC - AMENDMENT INCREASES AMOUNT OF INDEBTEDNESS UNDER FIRST LIEN CREDIT AGREEMENT FROM $795.0 MILLION TO $845.0 MILLION..CENTRIC BRANDS INC - AMENDMENT INCREASE AGGREGATE COMMITMENTS UNDER SENIOR SECURED ASSET BASED REVOLVING CREDIT FACILITY AMOUNT TO $200.0 MILLION.  Full Article

Centric Brands Inc - QTRLY Loss Per Share $0.89
Thursday, 15 Nov 2018 

Centric Brands Inc ::CENTRIC BRANDS INC. REPORTS THIRD QUARTER 2018 RESULTS.CENTRIC BRANDS INC - TOTAL COMPANY NET SALES FOR Q3 OF FISCAL 2018 DECREASED 6.0% FROM SAME QUARTER LAST YEAR TO $39.8 MILLION.CENTRIC BRANDS INC - QTRLY LOSS PER SHARE $0.89.  Full Article

Centric Brands Appoints Anurup Pruthi As Chief Financial Officer
Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - Centric Brands Inc ::CENTRIC BRANDS INC - ANURUP PRUTHI HAS JOINED COMPANY AND HAS ASSUMED ROLE OF CHIEF FINANCIAL OFFICER EFFECTIVE IMMEDIATELY.CENTRIC BRANDS INC - GLENN KREVLIN WILL JOIN BOARD OF DIRECTORS EFFECTIVE IMMEDIATELY.  Full Article