Samuels Jewelers Gets $10 Million Loan

Austin, Texas–based Samuels Jewelers has gotten a $10 million term loan behind its senior credit facility from GB Credit Partners. 

GB Credit Partners is an affiliate of Gordon Brothers Group.

The proceeds from the loan will be used primarily for working capital to support the retailer’s 106 locations. The financing provided by GB Credit Partners is supported by a second lien on Samuels’ inventory and receivables.

Samuels, owned by India’s Gitanjali Gems, received a $300 million senior secured credit facility from GE Capital in October.

The chain’s chief financial officer Robert Herman said in a statement the transaction will enable it to “focus on our continued growth strategy.”

JCK News Director