Sycamore’s Belk Taps Kirkland, Lazard for Restructuring Talks
- Discussions focus on solutions for $2.4 billion debt load
- Retailer operates almost 300 stores concentrated in U.S. South
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Belk Inc., the department store chain owned by Sycamore Partners, is talking with creditors about easing its almost $2.4 billion debt load and has tapped law firm Kirkland & Ellis and investment bank Lazard Ltd. for advice.
Belk and its advisers are huddling with holders of the retailer’s debt -- which includes first-lien and second-lien securities -- according to people with knowledge of the matter. Options could include a debt-for-equity exchange and new financing, according to the people, who asked not to be named discussing private negotiations.