Saks Operator HBC in Talks to Raise Liquidity, Refinance Loan
- Firm has a $1.3 billion asset-based loan due in October
- It’s also negotiating to raise another $50 million: people
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The owner of department store chains including Saks Fifth Avenue is working on refinancing a $1.3 billion loan, according to people familiar with the situation, a move that would help boost cash reserves.
HBC, whose operations also include Hudson’s Bay in Canada, faces an October due date on the asset-based loan, said the people, who asked not to identified discussing a private matter.