Folks, mid year inventory now In august
I’ve been in retail for 32 years and have never seen an august inventory…..never…..
PIK Payment due in august
You all see a connection here?
Start looking for a new job
5 replies (most recent on top)
Belk has mid-year inventory every year. Do your research.
WRONG, @cpd.
It begins in August 2023.
Belk CAN NO LONGER DEFER INTEREST PAYMENTS, known as “payment-in-kind” or “PIK”. Its interest expense is set to DOUBLE to $90 MILLION this year with loan interest payments beginning AUGUST 2023.
(Moody’s Investors Service cut the company’s corporate credit ratings to Caa3 in February, citing Belk’s UNSUSTAINABLE DEBT LOAD AND GROWING INTEREST BURDEN.)
Belk has an “asset-based revolver” due in August 2024, followed by first-lien term loans that mature in 2025. .
Pik payment is August 2024.
We are a golden store and we are not having a mid year inventory nor have they even discussed it so I don’t know what ya are even talking about!!!!
Mid year 2021 was in August.