Birks Group has received a new $33 million loan that it will use for new store openings, store remodels, and new merchandise.
The 49-store Montreal, Canada–based jeweler’s second lien term loan from Crystal Financial refinances an existing term loan. It matures in August 2018.
“The management team has demonstrated a commitment to enhancing the company’s performance, and we look forward to working with them as they achieve their goals,” said Rebecca Tarby, managing director at Crystal, in a statement.
The company owns Mayors Jewelers in the United States.