Gordon Brothers, the global asset experts, will provide real estate consulting services in support of Kirkland’s Inc.’s store growth strategy following the payoff of the firm’s $12 million term loan.
The U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand has launched a new partnership with Beyond Inc., the U.S. owner of Bed Bath & Beyond, Overstock, Zulily and other online retail brands. Additionally, Beyond has invested in Kirkland’s to support future collaborations, including the launch of new Bed Bath & Beyond small-format retail stores, as its exclusive brick-and-mortar operator and licensee.
To support these collaborations and assist with the retailer’s growth strategy across brands, Kirkland’s has retained Gordon Brothers to provide lease renewal services and new store site selection.
“We’re thankful for the opportunity to invest in Kirkland’s and would like to congratulate the industry leader on its investment from and strategic alliance with Beyond,” said Kyle C. Shonak, Senior Managing Director, Transaction Team & Head of North America Lending at Gordon Brothers. “In addition to leveraging our deep asset expertise to provide Kirkland’s with financing to pursue its strategic initiatives, our real estate team’s cutting-edge technology platform will provide the customized service offerings needed to achieve this next phase of growth.”
“Gordon Brothers was an integral partner in our transformation efforts, and we’re looking forward to continuing our partnership with the real estate team,” said Mike Madden, Chief Financial Officer of Kirkland’s Home.
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm’s tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.
To learn more about Gordon Brothers and the firm’s asset lending and financing services, please visit: https://www.gordonbrothers.com/services/financing-investment/.
About Gordon Brothers
Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Our solutions-oriented approach across asset services, lending, financing and trading gives clients the insights, strategies and time to optimize asset values throughout the business cycle. We work across the full spectrum of assets globally with deep expertise in retail, commercial, industrial, brands and real estate. We are headquartered in Boston with over 30 offices across North America, Europe, the Middle East and Africa, and Asia Pacific.
About Kirkland’s Inc.
Kirkland’s, Inc. (Nasdaq: KIRK) is a specialty retailer of home décor and furnishings in the United States, currently operating 325 stores in 35 states as well as an e-commerce website, www.kirklands.com, under the Kirkland’s Home brand. Kirkland’s provides its customers with an engaging shopping experience characterized by a curated, affordable selection of home décor along with inspirational design ideas. This combination of quality and stylish merchandise, value pricing and a stimulating in-store and online environment allows the Kirkland’s customers with a unique brand experience.